Newbie in Omaha, Nebraska

[Micheal Rieves]

Hello Everyone, 

I have to admit I have been hesitant to join the sight. I have been listening to a lot of the podcast and read several books. I have come to the point where I need to start putting some of these principles to action. I have looked at some properties and talked to some private sellers. I have yet to do my first deal but hope to complete it soon. I have been doing research for several months now. I don't have a lot of real life experience in real estate but I am looking to surround myself with like minded individuals that can provide input. Hopefully, I can provide a potential different perspective in the forums.  

A little about me. I am married and we have a son age 4 and a daughter age 2. I am sure some of you know how much fun this can be. I currently manage a team that works with life insurance policies that are involved in trust accounts for banks and trust companies. 

I am hoping that I can learn a lot. I have definitely learned a lot from the BP podcast and some other real estate podcast. Primarily, I would love to focus on multi-family units of 5 or more for cash flow while flipping some single family homes for cash. Eventually, I also would like to grow into some other markets where I have people I trust on the ground. 

I am excited about building relationships and being active on BP. 

Regards, 

Micheal 

[Christopher Hunter]

@Micheal Rieves welcome to BiggerPockets Micheal.

[Micheal Rieves]

Thank you! @Christopher Hunter

[Brian Johnson]

Welcome Micheal Rieves I am from Omaha as well. Let's meet up sometime & maybe we can work together.

[Nilesh Makhija]

@Micheal Rieves - One thing I would recommend is feel free to ask questions and post it on forum. Many a times we are hesitant to post a question, but surprisingly you will find there are lot of ways to answer the question and its always to get to have multiple perspectives.

As @Ned Carey says - Just ask the questions and follow up with people, keep in touch

Also would recommend reading How do I find a Mentor?

[Micheal Rieves]

Thanks Brian!

[Micheal Rieves]

@Nilesh Makhija - I appreciate the reference on finding a mentor and definitely plan on being active on the site.  

[Paul Timmins]

@Micheal Rieves 

Welcome. Time to build the legacy and foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

[Micheal Rieves]

I appreciate you reaching out to me @Paul Timmins. I definitely like the idea of building a legacy. I have looked at the start hear page. I will check out the books by J. Scotton as well. Due diligence is something I am still filling in the voids in my knowledge level.

[Sondra Mckibben]

Micheal,

Hello, My name is Sondra, I was raised in Nebraska in a little town west of you in Shelby.  My daughter Ashley is stationed there at Offutt AFB, so I know Omaha very well.  Omaha is a great place to live too and there are many investment opportunities as well!!! 

Please google Meetup.com and see what local investor groups there maybe right there, as well as get active in a REIA group as well. Then GO!!!!! lol its a great way of Networking and getting your self out there meeting others with the same goals! There are people in your area that will help Mentor you and give you advice, as well as here on Bigger Pockets, just as questions and they will be answered!

MARKET yourself, put ads out on Craigslist, banner signs, business cards, drive for dollars (knock on doors), write letters to vacant property owners, and visit your county public records.  

LISTEN be a VERY Good Listener to what the property owners NEEDS are, and NOT YOURS!!  That is where you will make the DEAL,  by caring and listening!! Its a win win for both, everyone is HAPPIER!!  

I have only been doing this business since October last year, and in that year I have done 4 deals that have closed, 1 full rehab in the works now, 3 short sales in the works, 2 deals i am negotiating right now, one being a land contract and the other is a wholesale deal!!  

I wish you much success for You and Your Family, great things will come, be Persistent, be HONEST, have INTERGRITY and your Word must be Golden in this business!!!

Best Regards and Success!

Sondra McKibben

[Micheal Rieves]

@Sondra Mckibben 

Sondra, 

Thank you for reaching out to me and tell Ashley thank you for her service. I have three active family members in the Air Force. Omaha has been a great place to live and I enjoy working with my wife to raise our children here. I haven't checked recently but last time I did we did not have a REIA group here. I looked at meetup.com and found a group and I need to go to a meeting. I have been able to meet some people who are currently investing in real estate through some of the current relationships I already have. I am working on building those relationship while continuing to grow more relationships. I feel pretty blessed to be in the situation I am in.

I am definitely trying to make every situation a win win for everyone involved in the deal. I am improving on listening more. I sometimes have a tendency to monopolize the conversation. I find myself looking at every house as I drive around town. I spend a lot of time on the assessors page but I feel like there is more information that I can obtain from that site that I haven't learned about yet. 

The one thing I have consistently heard is that my reputation is everything for building relationships in this business. Thank you for reiterating it again. Congratulations on the deals you are currently worked on. I have walked away from three properties because the numbers do not work. I am currently hoping to wholesale a property because there is not enough room to complete a fix and flip. 

Wishing you continued success, 

Micheal    

[Brandon Turner]

Hey @Micheal Rieves thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.

Seeya around!