For those of you that have some cash available this real estate market is tailored made for you. On any given day one can find properties that are selling at 30-70 % less than what they sold for just a few years ago. So why would you not want to get in the “game” or add to your portfolio.
So many people out there who are hesitant are missing a once in a lifetime opportunity to get on some great deals .I am not sure what they are waiting for.
In over 35 years that I have been investing I cannot think of a better market to buy properties at rock bottom prices.
So if you are ready to get in the game keep some of these things in mind.
1) Know what properties are worth before you make an offer and that does not mean that you have to write low ball offers. Sometimes the asking price may be a terrific price. Just last week a client of mine wrote an offer for $17,000 more than the asking price and he lost out as they had 4 offers. Lately this seems to be the pattern. The previous week another client lost out and he also offered over asking price. On this one there we’re 20 offers. Bottom line, decide if the property has the potential to accomplish your short or long term objective and make your offer accordingly. Obviously, the longer the property is on the market the better the opportunity to get deals .I also see a lot of properties that are being bought for 30-70 % less than they sold a few years ago. This is the beauty of purchasing in a down market. A knowledgeable Realtor can be your greatest asset; don’t under estimate the value they bring to you.
2) Second, think location, location, location. Why is location important (I use the term “family friendly neighborhood)? Location is so important because you want to own something that is worth owning, either as a rental or to flip . Also how quickly would you be able to sell the property if your priorities changed and you needed to sell is often overlooked? Bottom line desirable properties will always be in demand.
3) Consider a multi unit (duplex, 4 plex 6 plex etc) if you are financially strong and have access to money. Lots of great buys in the Metro area with fewer buyers.
4) Become a landlord. It just makes too much sense that while the foreclosure market is in full steam, the same people that have lost their home need to rent. There are a lot of circumstances why someone lost their home to foreclosure, but I can tell you that there are a lot of good hard working people that lost their home and would make great tenants.
Lot’s to think about.
Feel free to contact anyone of us on the Omaha Real Estate Investing Team for a confidential consultation: Prudential Ambassador Realtors Fred Tichauer, 402-679-3914 or Shawn Prouse at 402-305-1504 or Keller Williams Greater Omaha Realtor John Van Gelder at 402-871-5596 and you will be happy that you did. We consider ourselves to be one of the most experienced team in the Metro/Omaha area. With us you can count on: Excellence, Trust, Commitment, Honesty, Integrity, Leadership, Expertise, Practical Knowledge, Results and over 60 years experience as investors.
You can also check out our website for additional information. https://omaharealestateinvesting.com
Our Mission Is Simple: To Help Our Clients Generate Wealth
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