Hello, all! I am a newbie working full time and have been a licensed realtor part time for the past few years in Omaha, NE. I have been reading and listening to podcasts for several months.
I've been able to save about $35k and am eager to start building a portfolio. I have decided that buying and holding and the BRRRR strategies are most appealing to me. Since I have an understanding of the market I'm in and have access to the MLS I have come across a couple of properties that could make sense to buy and hold.
My goal is to accrue as many doors as possible - as fast as possible while maintaining my full time job for the time being. My target is around Universities and price is between 80k-120k in hopes of starting with 2 single family residences instead of 1 although I understand it is not the end of the world if it doesn't work out. This will likely mean that I will have to take into consideration mortgage insurance on both properties eating into my cash flow until the proper LTV can be met.
I’d like to hear your thoughts on if this seems logical, if I’m overthinking it, or if I should focus on maximizing cash flow on 1 first.
@Evan Krist that product doesn’t exist near universities in Omaha from my experience. Start in north O. I started with two there, best one with $310 mortgage and getting $1150 section 8 rent. I don’t see a ton of cash flow in those price points if that’s your goal.
@Travis Brizendine curious as to why those don’t cash flow. It seems like they should follow the 1-2% (speaking from ZERO personal experience myself)
@Amber Linthakhan I guess it depends on everyone’s perspective on cash flow. I prefer a little greater spread personally. A couple grand is hard to recoup when an AC goes out, or you have water damage etc. on $200 per month in cash flow
Hi Evan. Sounds cool. I started my investing journey around colleges also. Lots to consider.
Give me a holler if you want. I’m a broker in Omaha.
That product does exist near Creighton University. Not necessarily UNO.
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