All Forum Posts by: Kevin J Boyer

Hi Leigh,  Thank You for responding to so quickly.  I appreciate it.  I'll give them a call.

Hello Leigh et al,

I see several recommendations to your thread request for an Omaha Real Estate Attorney.  I am also looking for an attorney for the same reasons as you described. I wonder who you finally choose to work with?  

Thank You.

Hello Omahans,

Me too. I'm looking to network and talk with REI with investors in Omaha. So feel free to contact me if you want to get lunch or a drink after work.

I've spent most of my life in Omaha.  Never invested though.  Now I'm looking for the best area in Omaha to house-hack ... as well as future rentals.  Does any one have any recommendations for the best areas around Omaha for house hacking?  Where would I most likely attract room renters? 

There's an OmahaREI meetup on November 18th hosted by And Kozycz.  Go To Http://www.Omaha1REIA.com for additional details.  I hope to see y'all soon.

Hi Mindy,

I'm looking for my 1st property to house hack.  After you screen and approve a tenant to rent a room in your home, what rules govern every day behavior. What are some recommendations for governing the shared spaces like kitchen, bathrooms, living room, and yard? Do you have rules for using and cleaning up these areas?

Thank You Tim,

All utilities are renter paid.  But I don't yet know what the costs are for other expenses like water and sewer or garbage. -I'll look into now.

From the owners description, "the roof is new in 2019 and everything else is newer such as the furnaces, central air, water heater, kitchen, appliances, and bathrooms."  I don't have expenses on sewer and water, but you inspired me to ask about them from seller.  Since the roof is new I stayed with Cap Ex of 5%, but I see by your example you use 10%.  I'd like to hire a property management company to manage it for me as I still work full time so I calculated a 10% cost for that.

Thank you Landon, 

For the education on CoC. I hadn't realized my high CoC is due to putting nothing in. I feel better about the numbers now.

Thank you Sean,

I thought a Cap Rate was more relevant to properties with 5 or more units? The seller has not provided any information on rental history, yet. I've been searching the county assessors page for previous owners, purchase dates, etc. And relying on Real Estate agent to comb through MLS for nearby sales. Comps are varied because this property stands unique in its neighborhood. It's the only 4 plex within a mile of its location. The nearest 4 plex sold for $315K at end of 2018. I am basing my ARV on that number. Next highest sale price within 1/4 mile was $250k for 3bd 2ba.

I appreciate the tip to look into rental history. -I'll ask for more information on that point.

THANKS ALL!!!

Hello BiggerPockets Members,

I will be submitting an offer soon on this property.  Since it's my first i'm looking for advice from the experts.  Any tips and advice you can offer I would be glad to receive.  For example, purchase price in the calculation is also the list price, but i'm for my initial offer I want to go lower.  But how much lower should I make my offer?

I'm using the VA loan because I like the 0% down and no mortgage insurance features. I don't have cash available to add to this deal.

I also wonder why the Cash On Cash ROI is so high. Is this a flaw in the programming of the calculator itself? has anyone encountered this?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hi Jim,

Congrats on your first rental investment.  I recently joined biggerpockets.com and searching for my first investment.  Were you concerned about finding a renter to occupy your property right away?  Did you have to carry the mortgage payments for a few months?  

I've found a 5 bed, 3 ba with a completed walk-in basement which can be used as separate apartment.  But it's in deep inside a large residential area making it a significant distance to shopping, schools, major traffic ways. etc.

Insight from a new person like you would be appreciated.  Thanks.