I was having a conversation with an owner today who asked me if I still believe there is money to be made in real estate. "YES!" I answered. "No doubt!" And this is true even with all the foreclosures, bankruptcies and defaults we are seeing - many of which are strategic in nature I might ad. The thing you have to keep reminding yourself to do is look at the broader economic value of owning real estate and decide what it is you want to accomplish from being a landlord.
I do agree it is NOT easy to be successful as a SUPER, as many investors are now finding out. But for those who are willing to be hands on and have the time as well as the money to contribute, there is still much value to be realized from owning real estate in Omaha.
Proper debt and expense management is crucial. This becomes a problem most often for landlords with maintenance expenses.Turnover costs can eat up a year's worth of collected rents. But if you planned well, you have already reinvested that money, building equity, and you will know exactly how to work the property to get it ready for your next tenant.
There are many cash flow and equity models to follow but the one that works best is the one that is tailored to fit your goals, comfort level and ability. By doing this, you assure that you are not worthless because of your real estate choices but actually adding value.
In fact, Omaha is an excellent city in which to own real estate. Kiplingers recently rated Omaha, NE as the #1 City in the Nation for Value rating things like housing cost, cost of living, unemployment rate and per capita income. Here is a link to the article: http://www.kiplinger.com/magazine/archives/best-value-cities-2011-omaha.html .