All Forum Posts by: Dave Becker

Anthony Cosgrove Welcome to BP!

There are quite a few people in Omaha that can help out. Join the local REIA. Our next meeting is purely about networking. There are lots of property owners who own multi families. Also, look up the MOPOA. These are the landlords in Omaha. They meet once a month as well.

Thanks everyone for all the comments. I actually did the 70% of the 120 that it could sell for, but my investors are looking at quick exits at 110. I wasn't expecting that I guess. Thanks for all the info and I am already moving on to the next deal. I do have exit clauses.

Jerry Puckett@Jerry - Hi Jerry,

Thanks for the info. I was asking 4k but really am willing to take 3k since it is my first deal. I will surely look through the MLS and see what I can find. Thanks for the help.

Good Day Everyone,

I am looking for some advice on a wholesale deal. I have been learning all I can over the past couple months on here and elsewhere. I have gone to the local REIA meetings and met investors and decided to find a deal. I found one, got it under contract, and now I can't seem to find a buyer for the deal. Please let me know any info that would help. I understand you have far better knowledge than I and maybe this just isn't such a good deal. Or I am going about finding investors the wrong way.

Here is the home I have under contract:

2bed / 2 bath / 1 gar 1690 sq ft
List was $70,000
Contract is for $59,000
ARV $110,000 - I am a realtor and have pulled comps for the last 6 months in the area. This house could easily be sold for more than this, but I am putting it low for quick sale. The average sale price in the area is $120,000.

Rehab cost $25,000 - I personally have not rehabbed a property so I went to an investor who is mentoring me on wholesaling. He estimated the repair costs to be this price. He currently is setting up a new company and is not investing at this time.

I have sent out e-mails to all the investors I have met through the REIA meetings stating that I have an investment property opportunity under contract. I have also posted on CL but with no picture of the property or address ( maybe that is one mistake). I have only heard from one investor so far and he said that he could probably only make a $5,000 profit after holding costs and his costs for his line of credit, so it wasn't worth it for him.

Any help would be appreciated. I would really like to make my first attempt at wholesaling work, but it isn't looking too promising. I am in Omaha, NE for anyone in the area who may have more knowledge as well.

Thanks,
Dave

Welcome to BP Brandon! I too live in Omaha and am starting out in investing in the area. I am a realtor here as well. Please let me know if I can help you out with anything. I will put my ph# below.

I currently am only doing wholesaling but will be working my way into quick turns. I have not been a member here long myself, but have found reciculous amounts of information. Also, check out the podcasts. They have great info.

Last, but not least. Every 3rd Monday of the month we have a real estate investors association meeting at the Westside Community Center about 108th and Grover. Please come check it out. You will find some incredbily helpful people there and informative speakers. The MOPOA meets in the same location but I believe it is the 2nd Monday of the month.

http://www.omaha1reia.com/

Good Luck in your ventures!
Dave Becker
402-960-2356

Jennifer P. Welcome to BP. I am also very new here but am trying to help. If you know anyone that works for a title company, ask for the NOD list (notice of default). This is a good way to generate leads as well. If you do not have a contact at a title company ask a realtor you know. They should have a title company they work with often. I am a realtor and my title company gives me this for free every Monday, though I am not in your market.

Best of luck,
Dave

Thanks for the replies everyone. Obviously the community around here is great.

Dustin Skelton - Omaha is a wonderful place to live. We have a good REIA community too. http://omaha1reia.com/

James Vermillion - Glad to hear it. I hope to get it moving as soon as possible since I know I still have a lot of learning to do. I will certainly need help

Hello Brandon,

Thanks for the quick reply. I would like to start by flipping / rehabbing to gain some capital. Being in the RE business already should hopefully give me a leg up. I regularly attend seminars and classes to learn what I can. I will check out those links thanks.

Photo is coming. I need an updated one.

Hello all.

My name is Dave Becker. I currently reside in Omaha, NE where I am a realtor and hopefully soon to be investor and rehabber. Currently I have just started the processes. I have an LLC ready to go and now am working on the funding.

I am just about to hit 30 yrs old. I worked for a large logistics company for the last 5 years or so. There I was a business relations manager and export logistics manager. I recently moved out of there to free myself from the cubicle. Now I am a realtor growing my client base and looking into investing. My father owns several rental properties and commercial buildings, so this has been in my blood for a while and I have learned quite a bit from him. I am hoping to learn much more from this community.

My goal is to get into rehabbing and then rentals from that profit. I would like to start locally and then expand into another market where my brother is located. I have lofty goals, but I am very motivated.

- Dave