New investor looking to pick someones brain

9 Replies

Back story, My wife and I moved from Omaha to Phoenix for Work 7 years ago. 6 years ago we bought our house in Phoenix for $157,000. I got another job opportunity in Omaha and we moved back. Before we moved, we toyed with the idea of keeping our Phoenix house as a rental, but ultimately decided to sell it, netting a little over $70,000. We have used some of that money to pay off student loans, and other debt. We were going to use the remaining to reamortize our loan. When we looked into it, the $30-40k that we were going to apply to it would only decrease the payment by a couple hundred dollars a month. So instead we are looking to buy a rental property, and I’m looking to make a few contacts to help us start investing into rental properties locally and answer some questions. -Tony

Welcome back to Omaha. Keep an eye on the BP events tab for a monthly meet up put on by a couple members. We just had one a couple weeks ago and it has been immensely helpful for me. 

@Tony Cimino , congrats!  There is a growing population of Omaha investors to BP.  I would recommend getting involved in the forums and learning through the responses toubget back.  Also finding out what niche and where you to invest and gravitate towards people doing similar things.  Good luck!

@Matt Morgan after some research, I think I want to flip houses. My father is a contact salesman for Lowe’s and has a few flippers he works with. I am hoping to possibly partner up with an experienced flipper to split the first few houses and learn.

@Tony Cimino

Hello from another Arizona transplant to Omaha. I still own my properties in Phoenix and Tucson.

The market here is very different from Arizona and requires a little different strategy since we don't experience as much appreciation and there aren't masses of California exiles moving here.

Hey Anthony!

We bought it Az 6 years ago, and sold our home for over 70K profit this summer.

It’s super different, that’s for sure! I’m glad you touched on the appreciation aspect. I don’t think the buy and hold model is for me right now, maybe after growing my capital so that I can pay cash for a home, to get the best deal possible and apply the 2% rule.

I looked into the wholesale model, but I don’t have the time to send out letters/research. I’m getting my MBA so that’s 10-20 hours per week. I have a family and another one on the way. I think it would be a great opportunity, but not for me just yet.

Based on a lot of people I know, that’s why I think I’m going to focus on flipping.

When/where are the local meet ups?

Originally posted by @Tony Cimino :

Hey Anthony!

We bought it Az 6 years ago, and sold our home for over 70K profit this summer.

It’s super different, that’s for sure! I’m glad you touched on the appreciation aspect. I don’t think the buy and hold model is for me right now, maybe after growing my capital so that I can pay cash for a home, to get the best deal possible and apply the 2% rule.

I looked into the wholesale model, but I don’t have the time to send out letters/research. I’m getting my MBA so that’s 10-20 hours per week. I have a family and another one on the way. I think it would be a great opportunity, but not for me just yet.

Based on a lot of people I know, that’s why I think I’m going to focus on flipping.

When/where are the local meet ups?

There are a few members of this site who hold meet ups monthly. I have been to one of them. I also know that they have a local REIA that has meetings on the third Monday of the month. I have attended once and it was informative.

Wow! It’s great to see a familiar face! I’ll reach out Anthony!
Thanks

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