I'd really like to get started with flipping houses in Omaha but not sure where to start. I'm trying to figure out where I can find good deals before they hit the MLS or in some cases never hit the MLS at all. Can anyone point me in the right direction? Wouldn't mind meeting some more people to discuss as well. Thanks!!

Originally posted by @Mike Tinker:

I'd really like to get started with flipping houses in Omaha but not sure where to start. I'm trying to figure out where I can find good deals before they hit the MLS or in some cases never hit the MLS at all. Can anyone point me in the right direction? Wouldn't mind meeting some more people to discuss as well. Thanks!!

@Owen Dashner does a lot of flipping in the Omaha area. Hopefully he can point you in the right direction. 

Thanks @Anthony Gayden.  @Mike Tinker, in order to know how to answer your questions, it would be helpful to have more information.  You will need to define your target areas, price points you are comfortable buying, type and level of construction you are able to handle, etc.  Do you have a marketing budget (if so, how much)?  And are you just hoping to do a flip here and there as a side hustle, or are you talking about making this into a legit business right out of the gate?  The answers to these questions will dictate the approach that would be best for you. 

Almost all legit flipping businesses spend a lot of money on marketing (online, direct mail, etc.) to acquire off market leads. There are other more grassroots/cheaper ways of lead generation like networking, driving for dollars, door knocking, surfing Craigslist, FB and FSBO sites for leads, etc.

You could also seek out the legit wholesalers in the area and buy from them.

@Owen Dashner Thanks Owen. I’d really love to make it into a legit business. What is a realistic marketing budget?   

@Mike Tinker, you will need to start with your goals/plan and work backwards to figure out what a realistic marketing budget is.  A realistic budget to acquire enough leads to buy 2 houses a year is a not the same as a realistic budget to acquire 200 houses a year...  I'm not trying to be vague here, but there are a lot more specifics needed to give good answers.

@Owen Dashner No this is good information. It’s making me get more specific on certain areas. Any chance you know someone in the area looking to partner up for a first time flipper to show me the “ropes?”

@Mike Tinker, Owen mentioned everything you need to know to get started. I'd suggest you start with any of the marketing strategies he mentioned and stick to it. I have been doing direct mail and the results are coming out really good. Also, if you're looking for someone to partner up with you, start attending local REIA meetings and network with investors and wholesalers and someone might show interest. Good luck!

Hi Mike Tinker, 

you can find great deals on the MLS as well as off-market. The key is to be as fast as possible and have a good agent that will submit offers on properties that you source. If you submit 5-10 offers a days on all potential new flips on the market (with contingency of inspection) you'll find that within a month or two you'll have your first good flip. Oftentimes sellers get calls with something along the lines of "Would you take X for this property" and they say no. But when there is an actual offer submitted they are much more willing to budge. Good luck investing and don't dismiss the MLS, it is a great place to source!

All the best,

Krenar Roka

Thanks @Krenar Roka and @Ehsan Rishat I appreciate the information and guidance. I will definitely take the advice given.