All Forum Posts by: Dave Vona

I've started to hear and read more about these opportunity zones as well.  This is a big incentive for people that have unrealized capital gains to move their profits into a tax advantaged investment.  I would expect people that are comfortable with real estate to take advantage of this opportunity to get a discount on their existing capital gains tax bill and the potential for no taxes if they keep hold the real estate for 10 years or more.  There are close about 8,700 opportunity zones identified in the US, so it's hard to say whether every zone will see investment come in.  I would expect there to be some residual effects on the surrounding areas and see some lift in property values as money is funneled to these zones.  There was a recent Real Estate Guys Radio podcast on Nov 5, 2018 talking about the opportunity zone legislation.

Congratulations Brian. I keep hearing that it's not possible to find deals on the MLS anymore, but you proved that theory wrong. That works out a 1.4 price to rent ratio which should provide better than 10% cash on cash return.

@Collin Schwartz yet, let's definitely talk when I'm in town. I didn't realize you also did SFH, I was thinking you focused on apartments.

Hi, I live in Denver, CO and I'm looking to begin investing in Omaha, NE.  I plan to start by flipping homes to generate additional capital to invest in rentals.  I've done one out-of-state flip that completed earlier in 2018.  I'd like to find someone that has some experience in doing flips in Omaha.  I can bring the capital needed for the home purchase and rehab, and the other person would be involved in confirming the rehab budget and managing contractors.  I don't have a property yet, I'm working with a couple of wholesalers and a real estate agent in Omaha to find potential deals.  The terms of the partnership are open for negotiation.  Please let me know if you have any questions. 

Hi, I wanted to see if there are opinions on which areas of Omaha are good for flipping. It seems you can make flips work in just about any area as long as you're able to acquire the properties at the right price. For me, the criteria I've created for flips is 75% of ARV minus the rehab. I think some areas may have more homes that are in need of updating, but it's not the same as trying to find a rental that works since home prices and rents don't increase proportionally. In other words, the math usually works better for lower cost rentals. Thanks.

Thanks for all of the great feedback.  I know there is risk but I also hear about others being very successful with long-distance rehabs.  I've heard of people using a project manager that is paid a flat fee per property, but I would think someone that has a stake in the success of the project would provide a better outcome.  A 50/50 or some other split could be arranged.  I agree that finding the right people to work with in the local market is key, and that may take a couple of projects to figure out.  I'm currently looking in Omaha, NE and need to continue meeting other investors there that may make good partners. 

Hi, I'm looking for some recommendations from people who have completed long-distance house flips and rehabs.  I live in Denver and I'm looking to do flips out of state due to the challenge of finding homes in Denver and the high price points.  I completed one flip in Kansas City earlier this year with a full-service broker.  I made some money but it didn't go as smoothly as I would've liked.  I'm trying to figure out how to estimate the rehab that will be needed, and then how to manage the project from out-of-state.  I think one option is to have a partner that is local that can help.  I've read @David Greene' s book Long-Distance Real Estate Investing and he had some good recommendations.  However, if I'm doing a flip I won't have a property manager to help, and if it's an off-market deal, I also won't have an agent/broker to help either.  That means I would need great contractor that I trust to provide the initial estimate and to manage the entire project themselves.   Does anyone have any experience in this area?  Thanks.

@Sterling Anderson Thanks for the link, I've registered. 

@Josh Miller  Thanks for the update on the property.

@Oliver Pilco My personal email address is [email protected].  I'm interested in hearing more about your RE business and your work in Omaha.  

@Josh Miller Thanks, I'm already signed up on cashbuyersomaha.com and started reviewing the properties available.  

Great, thanks.  I'll send you an email shortly.