All Forum Posts by: Nathan Eckles

These numbers look very tight.  I'm not saying you have to be at the 2% rule, but any unexpected expenses, or if you miscalculated the rents by even 10%, and I think you'd be in a hole

The Omaha market has cooled off a bit. Two-bed REO houses in C neighborhoods were selling for under $20k 18-months ago, and renting for $650-700. The REOs have dried up a bit, and now those houses are closer to $40k. I don't have much experience with A properties. I only have one B and three C's, so that's what I watch. I can't really tell you how the higher end is doing.

I'd say the rents are strong here overall. 2% ratios are still not uncommon. I'm optimistic.  I'm looking to try a flip right now, just to help to get more capital for rental. 

I'm not a big time investor yet, so don't go on my word alone, but I'd endorse Omaha. The job market is strong, and the population is growing for a Midwest city.  Don't expect a ton of appreciation in Omaha. You have to make your money on the rents. 

Also, on the podcasts, you also hear a lot of people talking up Milwaukee. It sounds similar to Omaha's situation.

Hello all. My name is Nate.  I've been reading so many blogposts and listening to all the podcasts, that I put off doing a new member intro until now. 

I thought I was new to the industry, but now I see these people on BP that are very successful in much less time than I've been active in real estate, so I guess I'm not new, just inexperienced. 

I started in 2006, partnering with my mom to buy my first house, when I could barely afford an appraisal, let alone a down payment. I have since bought three more single-family properties, and in 2014, I was able to buy out my mom's share of the first property, bringing my total up to four, one of which I own free and clear. I'm definitely still learning. I can't say that it's been a huge moneymaker. Part of that might be because of the mortgage payments. I assume once they are paid off, that things will change. 

I'm not looking to become a millionaire.  When I first came to the site a couple of weeks ago, I had a plan to buy one or two buy-and-holds per year, until I could replace enough of my day job income to be a full-time investor. After being on BP for a couple of weeks, I'm now in the process of writing a business plan, with a goal of quitting in five years. 

My biggest issue is finding enough time to balance family, my day job, and my passion, which is real estate... and of course having enough cash and time to do every deal that I would like to take on. 

I'm glad to be here and be part of this community. I'm glad you have real information for those of us who don't know everything yet. 

I'm already past that "just get started" step everyone on the podcasts talks about. Now I'm at the "what should I do next to take me to the next level" step.