Investment Buying Tips Lincoln NE

How to take the good decision when buying a house or investing in the real estate market? Find out here key rules for freshman class investors, which will help you make the right choice.

Dan L. Cuda
(402) 421-7777
1201 High Street
Lincoln, NE
Company
The appraisal Company
Appraisal Types
Residental, Commercial, fha, hud, edi
Licensing Information
License Number: 930122
Insured
Counties Served
Cass, Gage, Hl, Hamilton, Lancaster, Otoe, Sine, York

Data Provided by:
Robert Frickel
(402) 479-4761
1500 Hwy 2, Box 94759
Lincoln, NE
Licensing Information
State: NE

License Number: CG950105
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Gregory Heinzmann
(402) 479-4761
1500 Hwy 2, Box 94759
Lincoln, NE
Licensing Information
State: NE

License Number: CG290035
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Donald Killeen
(402) 441-7356
920 O St #203
Lincoln, NE
Licensing Information
State: NE

License Number: CG920709
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Barbara Ramm
(402) 327-0873
5632 M Street
Lincoln, NE
Licensing Information
State: NE

License Number: CG990021
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Ken Rousek
(402) 423-8545
4501 Duxhall Dr.
Lincoln, NE
Company
Rousek Appraisal Services, Inc.
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: L920239
Insured
Counties Served
Cass, Gage, Lancaster, Otoe, Sine, Saunders, Seward

Data Provided by:
Jane Hermsmeyer
(402) 488-6024
925 Dale Drive
Lincoln, NE
Licensing Information
State: NE

License Number: CR290013
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Cherie Dougherty
(402) 479-4761
1500 Hwy 2, Box 94759
Lincoln, NE
Licensing Information
State: NE

License Number: CR290032
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Richard Keith
(402) 476-1144
115 Cherry Hill Blvd.
Lincoln, NE
Licensing Information
State: NE

License Number: CG950208
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Robert Ogden
(402) 441-8774
555 S 10Th St
Lincoln, NE
Licensing Information
State: NE

License Number: CG920626
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Data Provided by:

Investment Buying Tips

Provided By: Realty Times

by Kenneth R. Harney

Foreclosures and bank REOs are pulling a new wave of novice investors into the market, some of whom "are just plain clueless, to put it bluntly," says Robert Cain, a long-time rental market and real estate management specialist based near Tucson, Arizona.

"They see the price and they way, wow! I can buy that house and turn it into a rental," says Cain, who lectures around the country and online about investing intelligently.

"But they don't understand the local market, they don't understand landlording, and don't even necessarily visit the property," Cain said in an interview last week with Realty Times.

For example, a property manager in Tennessee called Cain for advice recently. The manager had a simple question: "Should I fire my client?" who lives in California and purchased rental real estate 3,000 miles away in Tennessee -- sight unseen because the low price made it sound like a steal.

But the property had a long list of defects requiring costly repairs, and it was slow to rent - causing the absentee owner-investor to blame the property manager for the cash drain.

"We see it constantly," said Cain. "New investors think it's easy. They buy on emotion, on low pricing, rather than buying with a disciplined plan.

What are some of the key rules for freshman class investors? Here are a few of Cains' that have served him well since the early 1980s:

Number one: Due diligence is never optional. You've got to understand the local market - and that includes not just where prices are headed, but specific market demand for rental real estate in this price segment, and even the local government's plans for the area where you're thinking of buying.

Number two: Buy with a written plan - that's right, just like the large professional investors use, with an entry strategy and an exit strategy. How long are you going to hold onto the property, how much will it earn you during your period of holding?

And what's the endgame - a sale to another investor? Conversion to condos? Tear it down and build something that's closer to the underlying real estate's highest and best use?

"Write it all down," says Cain. That way you can analyze it better.

Number three: Calculate the actual costs of the property in advance - not just the bargain basement price, but how much you'll need to fix it and feed it - the management costs, rental commissions, vacancy costs, taxes, to name just a few.

"If you don't know these things up front," says Cain, "you are flying blind. And there are no good surprises in real estate."

Published: October 23, 2009

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