Chris Egan Berkshire Hathaway Home Services Ambassador Real Estate
Counties: Douglas, Sarpy, Washington
Cities and Towns: Omaha, Papillion, La Vista, Bellevue, Elkhorn, Gretna, Bennington
Licensed Since: 2007 | NE License # 20060790
About Chris Egan
I started in real estate in 2007 after graduating from college. I joined my father in the business; he has been a licensed agent and investor since 1980. I love helping other investors achieve their goals through real estate investing. I personally buy single family rentals mostly in the midtown Omaha area. I try to by one new rental every couple of years. As an agent I work with a number of investors. Most of them subscribe to the buy and hold philosophy buying residential single-families and some multi-families. I also work with some clients who buy to flip.
The Midwest and more specifically Omaha, Nebraska is a fabulous market to invest in real estate. Here in Omaha our existing home median price is $203,000. The median rent for a single family home is $1,289. Our unemployment rate in Omaha is very low at 2.7%. We have a very diverse economy with many different industries, making Omaha a very attractive market to invest in. Our market has remained stable over the years with typical application around 3.5%. In 2008 and 2009 our average sales price was down 10%-15% so we fared much better than other markets around the country.
Investment Price Points
In Omaha our entry price point for most properties is about $125,000. For a property in that price range you can expect to rent it between $750-$1,000 per month. The vast majority of investors I work with including myself will buy single family homes between $125,000-$160,000. These properties will typically rent between $1,000-$1,600 a month. These properties seem to be the most popular because you are buying a quality property and also maximizing your rental return. Over $160,000 the rents do not seem to keep pace with price of the property unless they are multi-family properties.
Free Report: Demographic and Housing Data on the Omaha Market
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