All Forum Posts by: Jose Pena

Hello @Miguel Hernandez, I'm an investor from Omaha. I would recommend Midwest Title, DRI title, and Trustworthy title. I know other wholesalers have been able to work with those companies to close wholesale deals. Feel free to reach out if you would like to talk about Omaha and real estate.

Hello Alexandro, I'm not very familiar with the Mortgage side of Charter West, but they've been very helpful with the commercial loans on my investments. Feel free to reach out when you're in Omaha. Best of luck. 

I would recommend Centris. They have a commercial side and they definitely work with investors who want to refinance based on the ARV amount. You'll have to pay for an appraisal, but it is worth it.

Hello @William Gilbert , if you are still looking for an extra set of eyes, feel free to send me the information. Best of luck.

Good morning Scott,

I just sent you a message and congratulations on those numbers. Best of luck with the property management adventure. 

Hello @Mike Cowper, 

Is the property available? I'd be interested in taking a look at it. 

Thanks.

Welcome @Jacob Hanika

I'm in Omaha and have attended the Omaha Real Estate meetup a couple of times. I definitely recommend checking it out. I'm barely starting out and have been active in my search, I have a feeling we have the same or close to the same amount of questions. Best of luck and feel free to reach out.

Thank you all for your feedback.

I did put the house into a contract, but after a survey inspection, some issues arose with the location of the house. Therefore, I decided not to pursue it since the issues were major and would take the property from positive cashflow to negative. I did lose $200 on inspections, but well worth it. A good learning experience. I was excited to close on it, but it wasn't meant to be.

On to the next one. Again, thank you all for your comments and feedback, I really appreciate it.

@Anthony Gayden, I plan on adding off-street parking to the property by building a retaining wall in front of it. The only concern is the alley. I plan to rent the property. I did think about the difficulty of selling it in the future, but I think another investor with a buy and hold strategy will be interested. Thank you for your feedback, really appreciate it.

@Mark Maly thanks for the feedback. The property is in South Omaha, really close to the zoo. I've had a really hard time finding a property with a decent amount of cashflow, which is the reason why I decided to pursue this deal.

@Derek Bailey The neighbors are not really in the same situation because they all have access to a paved street. My realtor told me that this is kind of unique, so it is not really the norm here in Omaha. Feel free to PM me and we can definitely chat about the Omaha market. I'm really new at this :) just making sure to set the expectations, but I'm learning and willing to help out in any way I can.

I'll keep you all informed of what I do and how things go. Thanks again for your comments.

Hello BP,

I might have found a deal. The owner is asking 48K for the house, it can rent for $750 a month and it is ready to rent. The house has 780sqft, 2 bedrooms and 1 bath. The only catch is the location. The house doesn't have access to a street, it is in an alley. Also, there is no off-street parking, but the tenants could park in the alley (the city is fine with this) or I could rent a parking spot from the neighbor. 

I called the city and they said that they do plow the snow in that alley since the alley is actually marked in the city as a street. I think the house would appraise for 55K, but not entirely sure because of its location. I could build a parking space in front of the house if I do a retaining wall too. I plan on keeping it as a buy and hold property to generate cashflow. What would you do?

The empty lot next to the house (right) is actually not part of the house.