All Forum Posts by: Craig Pfeifer

The real estate agent I use in Omaha is Ryann Kluthe.  She is awesome.  Google her.

The court house should have a record of all past sales, it might even be county's website

I would make sure my contractor has deadlines and penalties if not met.  Figure out overall budget and see if it will cash flow if you move out.  Of course add insurance and taxes in the mix as well as property management fees in case they are needed.  

@Jonathan West see above

Call your local fire inspector.  You definitely don't want to set yourself up for a lawsuit (there are enough opportunities for that already).  Most fire inspectors I've talked to are very forthcoming and nice individuals.  But I would say the in order to rent the third unit you would need two exits.  Otherwise it should be advertised as two units.  If someone wants to live up there "unbeknownst to you" that's another story.  

@Nathan Brooks :  I concur with Matt.  Talk to Ryann she is awesome.

Talk to Ryann Kluthe, she is awesome with REIs.  

You have to look at the cash on cash return on any investment so if you are buying a good deal, then it should be able to pay for the HELOC as well as the conventional loan. You may not have as much cash flow if you are doing a no money down deal, but you will be paying down the HELOC which will provide additional back-up financing in case a major expense comes along.

@Brady Lee In my opinion, unless you can find the right partners, conventional financing is the cheapest and easiest.  Of course if you don't have the money for a down payment then you have to be more creative.  

@Eric Bilderback Depends how much work you want to do right away.  What's the Weather like in October?  I know in Nebarska you would never want vacancies that time of year.  Also, are there any regulations as to how high you can raise rents?  Just some food for thought