June 30, 2012

Are There Viable Multifamily Properties in Omaha?

I was recently looking for multifamily properties for sale in Omaha and there is absolutely nothing for sale that is worth considering..... unless you want to wake up after you close on one of these places and pound your head against the concrete wall until you get the properties stabilized.  I am not kidding. There is not a lot for sale worth considering

Here are the reasons I think there is very little viable multifamily properties are for sale in Omaha.

1. We have a "herd mentality". Because everyone else is doing it, why don't I? All the good ones have already been snatched.

2. Other real estate sectors such as office and retail are a terrible place to put your money. I have two office buildings for lease right now. One has had one showing in a year. The other has had two showings in 2 years.  Retail is even worse.

3. With the TD Ameritrade building going up in Omaha, its only going to get worse. All the space that TD Ameritrade is in right now, is going to be vacant soon. The office environment is going to get even worse.

4. Companies are making a lot of money right now, and a lot of people realize real estate is a great inflation hedge.

5. It's hard for someone to steal real estate.

6. So far,(fingers crossed), we still have good property rights.

7. Bonds are paying terrible returns right now.

8. Many people have realized the stock market is not for the faint of heart.

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