Originally posted by Josh Pittman:
Who knows where we'll go. Its pretty much arbitrary. I was reading a few top ten lists of "best cities to invest in RE" and Omaha, Nebraska was on that list, so was Dallas and Austin, TX. We might go to Omaha, who knows? Why not go to the best place to invest and invest a while?
I can speak to the values in Omaha. We have a fairly diverse investment community. We have a strong Section 8 demand in a somewhat depressed section of the city. Values verses rents can produce upwards of 20% on a cash return and that includes having a management company in place. Without credit being used, the total costs can be as low as the $20K's. If you have some private financing, you can really kill it.
Other parts of the town are more traditional, values have dropped to a point that making greater than 10% are likely not including the appreciation over time.
The thing that makes Omaha so appealling is that the economic downturn has hit us as lightly as anywhere in the country.
I am always looking to help others enter our market. I am available for either consultation or partnering.
If it interests you, get in touch with me.
