Anyone investing in N Omaha?

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I live in Omaha in the Dundee neighborhood, which is relatively close to Fontenelle. Fontenelle has some nice older homes, but it would be quite a stretch to suggest that the area could even be considered "up and coming". For now North Omaha is just a lower income area and you would have to go street by street to find the decent rental areas. That is not to say that it is a bad area to invest, but you need to be prepared and know what to expect. It is a cash flow market.

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Would definitely be interested in finding out more about this. I've been purchasing quite a few rental portfolios over the last year. N Omaha can be really hit and miss. Some areas are definitely better then others. Some of the portfolios I've bought in the area have been have been really beat up and neglected with a ton of deferred maintenance, others the owners have treated them like their babies and have kept up on them very well. Definitely one of those areas that need to drive past each property to scope out the neighborhood as even from one block to another there can be big differences in the quality of housing. There has always been a push for redevelopment in the area like many other cities try to with areas similar to this. They haven't made a ton of progress with this yet.

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Totally hit or miss. However, do not throw out the entire deal just because it is section 8. One of the agents in my office at Berkshire is making a killing in North omaha with his buy and holds-not all his properties have the best tenants and they tend to need more clean up after a lease ends however at the lower end purchase price your cash flow is great.....and your agent should be your eyes on the ground. Have them send you videos and make a list of what needs done right away and what will be in the 5 year plan....that's what i do for my San Diego investors.

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We have a property in NoDo (North Downtown Omaha) that we rent out on Airbnb. I agree with everyone else about going block by block...our house is on a quiet street across from a school and two houses down from a church. However, it's close enough to the main tourist area that it has been quite successful. There has definitely been revitalization in the NoDo area, especially around the Century Link Center. Kiewit just bought a bunch of vacant buildings to turn into a new headquarters. There have been some neat developments around 24th and Lake with some art galleries and local businesses, and if you get super north by Florence or Minne Lusa you can find some cool neighborhoods as well. Feel free to reach out if you any specific info, as we are pretty familiar with the area! Parts of North O that are close to Downtown would make some great Airbnbs.

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I would agree with Mark and Anthony that N Omaha is so hit or miss and completely changes from block to block. I wish that it was being revitalized but besides one new apartment complex that just opened last month I have not seen much progress. I think if you want to go forward with the deal you would definitely need eyes on each property and a great realtor helping out.

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Justin if you do not buy that package I would have a buyer that would. Let me know if you want to work out a deal on part of that.

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Hey, guys! I recently started wholesaling homes in the Omaha Metro. I am close to putting a house under contract that is on N 37th and Spaulding. House received a new roof not too long ago and the owner started to complete the house but wants to sell it. It is currently a 2/1 but can be outfitted to be a 3/1 and rent for $800.00-$900.00 per month. Message me if interested. I would love to meet investors who flip or rent in the Omaha metro–I should have 8 houses to choose from by the end of May. Thank you.Best,Carter Doering

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As many others have mentioned, pretty sure I know of the investor who owns these houses. We started looking at his properties in fall last year.Now, not 100% sure we're talking about the same properties/owner, but if we are, the vast majority have been incredibly neglected as have the tenants. The owner I am thinking of would not hesitate for a second to drastically lowball the amount of work/$$ to rehab or hide problems from potential buyers. He keeps his properties in miserable condition - little to no maintenance, does not address pest problems, not to code including basic safety devices, etc.Proceed with extreme caution with these, especially if you're out-of-state/relying on someone's elses word about their condition.Feel free to message me and I can confirm if it's the same investor, share further details, etc.(And Brian you're correct, he wants out but isn't particularly motivated and is basically waiting for the right buyer who doesn't do their due diligence and will pay way too much for them.)

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I think I know of the package you are talking about. Unfortunately, my realtor and I have been trying for 2+ weeks to get into one of these homes to take a look and cannot get the owner to even respond to us. Doesn't seem like he is too motivated to get these things sold...

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I came across someone offering a very similar package a couple weeks ago... I’m guessing it’s the same person. I went to a house that he said needed 10k in work. In reality, it probably needed 10k in cosmetic work and needed to be completely rewired and the foundation has some serious issues along with refinishing a bathroom. You could probably put the bare minimum into it and get a tenant in there to bring in solid cash flow, but if you actually put in the work to make the place safe and up to code then there isn’t much return, if any.