Flipping Houses In Nebraska

How To Flip Houses In Nebraska

November 23, 2023

Produced by:
Richard Stevens

Richard Stevens is an active real estate investor with over 8 years of industry experience. He specializes in researching topics that appeal to real estate investors and building calculators that can help property investors understand the expected costs and returns when executing real estate deals.

With extremely low unemployment rates, affordable housing and a stable economy, Nebraska can be a good place to successfully complete a house flip. The revenue per flip ($67,500) is higher than most states in the US, while the low unemployment rate ensures that the need for housing is always high. Nebraska is also populated with several charming (and very safe) cities and towns that could be perfect for a fix and flip, provided you can find the right property to renovate. 

Now let’s take a more detailed look at how to flip houses in Nebraska.

Nebraska House Flipping Stats

Median Purchase Price

$109,000

Median Resale Price

$223,560

Average Revenue

$114,560

Price Per Square Foot

$139

Nebraska Population Size

1,934,408

Median Household Income

$59,116

High School Graduation

91,1%

Travel Time To Work

19 Mins

Best Cities for Flipping Houses In Nebraska

  1. Omaha
  2. Lincoln
  3. Bellevue
  4. Grand Island
  5. Kearney

Safest Areas In Nebraska

  1. Gering – Safety Score: 91.11
  2. Seward – Safety Score: 89.99
  3. Columbus – Safety Score: 89.42
  4. Alliance- Safety Score: 87.40
  5. La Vista – Safety Score: 87.09

Please note – All the statistics in this article are based on 2020 data. You can view the data sources at the bottom of the article.

The Basics Of Flipping Houses In Nebraska

  • Find a property in Nebraska that is undervalued
  • Source funding from a reputable hard money lender in Nebraska
  • Buy the property for a price that makes it possible to generate profit when it is resold
  • Complete renovations that will increase the after repair value
  • Find buyers for the property and sell it for a healthy profit margin

How To Find Houses To Flip In Nebraska

1. Use FlipScout By New Silver

FlipScout is a free tool that helps you find most profitable real estate investments using data and intelligence. Find a property to flip or rent out anywhere in the country.

2. Leverage The Power of Wholesalers

Finding a good wholesaler can be very rewarding for a property flipper. Wholesalers tend to have access to all the most relevant property databases, and they often have unique personal networks. By using a wholesaler, you effectively gain inside access to their knowledge of properties in Nebraska.

3. Attend Bank Auctions

Bank auctions often present opportunities to purchase properties below their market value. This is mainly because banks hold these auctions in order to sell the properties as fast as possible. If you attend bank auctions with a clearly defined strategy, you can potentially walk away with a new property that fits in perfectly with your investment portfolio.

4. Use Direct Mail To Find Off-Market Properties

Although it is considered an old school technique, direct mail can still yield positive results for house flippers. Direct mail has been shown to have a higher response rate than email, and numerous studies have shown that people actually enjoy checking their mailboxes. More importantly, you might be surprised by how many people have considered selling their homes. Your letter could be the trigger that they have been waiting for.

5. Sign Up To The Multiple Listing Service (MLS)

Even though MLS listings can be competitive, it is still a good avenue for finding properties to flip. The MLS is literally a database created by real estate agents, and it is filled with property details and statistics that can help aid your research process. There is a fee involved, but one deal is all you need to comfortably cover the costs.

6. Find Foreclosures

When properties fall into foreclosure, the primary goal of the loan originator is to recoup any potential losses. This is good news for house flippers, because properties in foreclosure often sell for less than their market value. If you are able to locate foreclosure opportunities in Nebraska, there’s a good chance you will be able to purchase a property for less than its market value. This is why foreclosure can serve as a great platform for a potential flip.

Nebraska Housing Market Analysis

House Flippers Are Focusing On Mid & Upper Range Areas: There is only a notable gap between median home value in Nebraska ($190,969) and the median resale price for house flips in Nebraska ($223,560). This indicates that house flippers are selecting properties in  good areas, while still factoring in affordability. Ultimately, following the 70% rule is always a good guideline when deciding how much to pay for an investment property that you are hoping to flip. 

 

The Revenue Per Flip Is Higher Than Most States In The US: The median revenue per flip in the US is just over $61,000. In Nebraska, this figure jumps up to $114,560. This is good news for property investors. It means that you can potentially set aside additional budget for renovations, or simply bank more profit when the deal concludes. 

 

Home Values Appreciated By 6.9%: According to Zillow, home values in Nebraska appreciated by 6.9%% over the last year. Moreover, property prices have been steadily increasing since late 2012.

Despite taking a small dip when covid-19 first arrived in the US, the Nebraska real estate market has responded well since then. Historically low interest rates have increased demand, while the supply of homes hasn’t increased proportionally. This is a recipe for continued home appreciation, at least in the short term.

 

Homes In Nebraska Are More Affordable Than The National Average: The average home value in Nebraska is $190,969. This is considerably less than the average home value in the United States, which is approximately $266,222. 

The relatively low cost of homes in Nebraska can set the stage for first time flippers to get started. In essence, you will need less capital to purchase the target property and complete the renovations. 

Apply For An Investment Property Loan

If you’re ready to start your house flipping journey, New Silver Lending can provide the capital you need to fund your first flip. We offer ultra fast hard money loans with competitive interest rates and quick closing times. The entire application can be completed in less than 10 minutes.

Next Steps

If you’re committed to flipping houses in Nebraska, the next step is to invest time and energy into finding the best possible property. We have outlined a number of methods in this post, and all of them can potentially bear fruit. 

Once you have identified a property, using a reputable Hard Money lender like New Silver can help accelerate the house flipping process. Our company is built on speed, efficiency and user-friendly technology. The online application can be completed in less than 10 minutes, and we offer instant proof of funds letters to all of our clients.

Property Flipping Resources

Hard Money Loan Calculator: Analyze the costs of your next flip in detail with our hard money calculator.

ARV Calculator: Workout the After Repair Value of the property that you are hoping to flip.

Resources Used In This Post

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