Looking to invest in Omaha real estate? Deal quality will define your success–so you need the best deals. This blog offers tips to discover the best investment properties in Omaha at the best prices!
Investing in Omaha real estate is one of the best things you can do from a financial standpoint. Real estate is simply the best way to build wealth (read Rich Dad, Poor Dad to substantiate that claim). In this post, we will offer tips to help you find the best investment real estate in Omaha.
1. Drive For Dollars
Driving for dollars is the tried and true way to find deals on investment real estate if you are local in Omaha. The process is simple. Get in your car, look for properties that are empty, or show signs of neglect. Snap a photo and record the address and description to jog your memory later. After you assemble a list of properties, research the owners and build a contact list. Next, contact each owner to gauge their interest in selling. Some people send an offer right away, while others simply inform the owner of their interest in buying.
2. Network With Others Industry Insiders
Networking with others in the real estate industry will expose you opportunities that never make it onto the MLS listing. You learn about investing and Omaha through networking groups, like the Omaha Real Estate Investors Association. These communities will also help you learn what you can expect from the Omaha real estate market. There are many ways to network with real estate professionals in your area. Sign up for local meetups, or attending networking sessions online. You can also attend general business networking events to build relationships in the community. You never know who you may meet or who may have insight on a property for sale.
3. Buy Lists to Find Potential Sellers
With the right data, you can identify motivated sellers before they realize they are ready to sell! Data brokers are specialists at providing detailed information for real estate investors. There are lots of resources and you’ll need to invest time to understand which data is most effective. One effective technique is called stacking and involves cross-referencing lists to find the buyer who is the most motivated. If you are looking for specific lists, try 90 days late, foreclosure lists, tax lists–these identify people who may have an immediate motivation to sell. If someone’s name is on one of these lists, they are probably getting mail from other investors. Think of ways to set yourself apart with potential sellers. Also, research the seller and their property before deciding if you want to make an offer.
4. Research the Market and Properties
Before you can achieve success in Omaha, you need to understand how the Omaha market works. Partners can help you get up to speed, but you still need to put in the time to know the market. Before making an offer, do as much research as possible on available properties, the local market, and real estate trends. This will help you be informed when you talk to sellers. Whether you choose to do the work on your own or if you turn to Chenoa Investment to help you with the process, being informed will help you avoid making a bad investment. Buying an investment property is an important decision. You don’t want to find out after the purchase that you made a huge mistake and the property will fall short of your goals.
5. Work With an Established Professional
If you aren’t looking to build a business to find properties, an alternative is working with a professional home buyer like Chenoa Investment. They can lead you to the best deals on investment real estate in Omaha. Neighborhoods vary (prices even vary by which side of the street) and your requirements will inform where you want to invest. We know exactly where to look and we do the legwork for you so you can buy the perfect investment property without any stress or wasted time. There is a cost to working with a house buying firm, but they can help you find exactly what you are looking for in an investment property so you can be sure to purchase something that perfectly compliments your portfolio.
If you’d like to learn more about investing in Omaha, we’d be happy to help. We’ll learn what you’re looking for, what you want to spend, and what you want to achieve. Then we can help you build a process to achieve your goals. You’ll be able to buy investment real estate in Omaha, building wealth and creating security for your family for years to come.