Investment Buying Tips Omaha 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.

Cindy
02-598-4728
6416 S. 100th St Omaha, NE 68127
Omaha, NE
Company
Schwarz Appraisal Company
Appraisal Types
Residental, fha, edi
Licensing Information
License Number: Cr290010
Insured
Counties Served
Cass, Douglas, Sarpy

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Michael Powers
(402) 651-2020
14481 Erskine St
Omaha, NE
Company
Powers Real Estate Services, LLC
Appraisal Types
Residental, Commercial, fha, edi, erc
Licensing Information
License Number: CR260210 & CR02768
Insured
Counties Served
Cass, Dodge, Douglas, Sarpy, Saunders, Washington, Harrison, Mills, Pottawattamie, Cass, Dodge, Douglas, Sarpy, Saunders, Washington

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Carylon Dillenburg
(712) 329-1907
201 4th Street
Council Bluffs, IA
Company
koestner, McGivern & Associates
Appraisal Types
Residental, fha, va
Licensing Information
License Number: CR02001
Insured

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Mark Schaecher
(402) 556-7878
6901 Dodge St. Ste. 109
Omaha, NE
Licensing Information
State: NE

License Number: CR960198
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Richard Meredith
(402) 391-4523
510 N. 73Rd Street
Omaha, NE
Licensing Information
State: NE

License Number: CR290134
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Tracy Schanou
(402) 681-5952
8129 S. 106th Street
LaVista, NE
Company
Schanou Appraisal Services Inc
Appraisal Types
Residental, fha
Licensing Information
License Number: 220120
Insured
Counties Served
Douglas, Sarpy

Data Provided by:
Jeff Reynolds
(402) 305-5739
16111 Hickory St
Omaha, NE
Company
Sky Appraisals LLC
Appraisal Types
Residental, Commercial, fha, edi, erc
Licensing Information
License Number: CR290003 & CR02984
Insured
Counties Served
Cass, Dodge, Douglas, Sarpy, Saunders, Washington, Mills, Pottawattamie, Cass, Dodge, Douglas, Sarpy, Saunders, Washington

Data Provided by:
David Peters
(402) 932-4229
725 N. 57Th Street
Omaha, NE
Licensing Information
State: NE

License Number: CG920549
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Denise Bighia
(402) 556-7878
6901 Dodge St. Ste. 109
Omaha, NE
Licensing Information
State: NE

License Number: CR940270
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Oalga Bighia
(402) 556-7878
6901 Dodge St. Ste. 109
Omaha, NE
Licensing Information
State: NE

License Number: CR940261
Appraisal Certifications
Certified Residential
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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