All Forum Posts by: Cory Bogler

Those are good #s. I found one the other day on Fort street. house was listed for 70. Had my contractor look at it and said anywhere from 20-30k for rehab and they would list it for 125k. Your #s are a little better but good to know it can be done in the area. I keep getting cold feet everytime it comes to pulling the trigger.

I read that there was someone else that would buy, refurbish and he would both list it to rent and list to sale. If he found a solid renter he would rent it but if he got an offer on the house prior he would sell. I might just have to look into that a little bit.

Ted,

Thanks for the information on flipping in North O. Do you think the Brrrr would work in North O or do you think it will be hard keeping occupancy? Doug mentioned earlier that the OPS tend to be on the market longer. I guess if you find one of the good streets than you could probably attract some good tennents. 

Jennifer,

I had contemplated reaching out to them but decided against it as the ad was for cold calling and I just wasn't up for that at the moment. I still keep their contact information so I might reach out. Appreciate the insights.

Cory

Glad to see there is getting more action on this. I plan to share information on here regarding how my journey is going once I find a property that may be helpful to you all. 

Tanner -  Not sure I could recommend a quality GC at this time. My cousin's husband is a GC and is going to help me on my property when I get it but I have not used him yet. When it does happen, I could surely share the information.

Jen - You say your mentors are in San Diego? If you don't mind me asking did you meet them via a facebook ad? I had an advertisement for a couple in SD that invest in Omaha and wanted people to do cold calling for them. Anyways, just curious. Cool that there are other people here in SD looking to invest in Omaha. Hopefully we could be good resources for each other.

Cory

Doug,

I apologize about the name early! Once again thanks for all the feedback.

Good advice on the rent prices. I have been playing with them a little but to see the ROI at different price levels. My guess would be to try and calculate this on the low side to build in a cushion. I would rather not make as much than lose money. I also didn't think to ask the real-estate agent for pricing. This would for sure be another great resource. Seems like I am talking to one now!

My aunt is a real-estate agent in the area and she said the same thing about availability. I refuse to believe there is not a property that will work for me but it appears I just need to be patient and keep turning over rocks.

I have looked into the owner occupant and just doing a small down payment but I currently live in California and have no plans to move back to the Midwest. I could do that out here but houses in my area are starting around 500k and up in not so nice areas. Obviously I believe it would appreciate but the rent vs monthly expenses don’t exactly align if I decide to move out and rent it after a year.

As for the property management rate. I have spoken with multiple management companies lately and they both told me 8% of each month, half the first month rent, and a renewal fee. I think one was $100 and the other was $150. As for the insurance, I am just going off the listed price on Zillow. Which now that I type that realize that’s not super accurate because it most likely will be more expensive if I am using it as a rental.

Thanks again for the valuable information.

Cheers,

Cory

Todd,

I appreciate all the information. Its very valuable I should be able to apply it while looking for properties. As of right now I have not identified a property. I put together a spreadsheet using the information in the bigger pockets books i've read as well as utilizing all the information I can gather online. I monitor rents in the area based off online reference and compare to the zillow and rentometer estimates. It seems there are alot of cash flowing properties that would work for me. It would be helpful though if you could review one of the properties that I have looked at to see if my #s are correct of way of. Ill post below.

I have held off pulling the trigger as I am hopefully able to find something I can Brrrr.It seems most of the Brrrr properties are not listed on the MLS or the seller is wanting cash. Is this typical?

The other sticking point for me was where to actually buy something which you seemed to have help address this question for me.

Its worth noting I am approved for 15% down. Anyways, take a look and let me know what you think. I truly appreciate the feedback and input. 

https://www.zillow.com/homedetails/4919-N-35th-St-Omaha-NE-68111/75838165_zpid/

Hello Everyone,

I am looking at buying my first rental property. I have chosen the Omaha/CB area because I am originally from the area and still have family. It only made sense that my first property be close to people I trust as I am living in San Diego, CA. I have been looking around for some time and most of the properties that work with my budget are in the North Omaha area. Growing up, North Omaha always had a bad rap and because of that I have been hesitant to purchase in that area. My question for the BP Omaha community, is North Omaha a good area to invest in? Are there any parts you would look to avoid? I saw an investor mention Benson area as his focus which is neighboring to North O. I would love to hear some opinions from investor that may know the area better.

Anyways, I have always heard BP forums are full of people willing to help so I thought I would give it a shot.

Thank you,

Cory