All Forum Posts by: Dave Poeppelmeier

It depends on where you're at in 43609. There are a couple of nice sections of neighborhoods that are solid to invest in, but there's a lot of D+ in that zip code as well. And no, you don't need tornado insurance. Let me know if you have any other questions. 

@Raghavendra Kandukuri you live in a great market! I grew up in Green, and the Akron area should have plenty of properties that will perform well that you can manage yourself to start. In Ohio, you should NEVER "break even". You can figure Property Management in your numbers so when you scale you know you're still going to cash flow enough to your tastes. Find an Investor Agent around you in Akron and start looking for deals in your own backyard. Good luck!

@Aiden Huseboe House. Hack. I wish I had started doing that at 18 years old, and I agree with everyone above. But, the question is how are you going to earn money? You have so many different directions to go: Go directly into RE and work with a Property Management Company, a Brokerage, Construction Company, etc to get experience. If there's something else you are very interested in that you can have a career in for 10-15 years to bring in bigger front door income to be able to invest into RE, go to college. Otherwise, you can simply get a job, but that's not usually going to bring in enough to squirrel away to invest. However you go, just remember that most people you see here on BP did NOT start at 18 years old. You have time. Build your knowledge base, look for a great deal, and take it one thing at a time. Best of luck to you!!!

@Kyle A. I agree with all of the above, but it depends on what you want to do. You're also 18-22 years old I'm presuming, so that may change over time. I started as a Physical Therapist, and left the profession after 20 years to be a full time Realtor/Investor, but I also started Investing in year 13 and knew that I didn't want to be a PT forever by year 5. 

If you do have an interest in a career that can bankroll your Investing, go for it. If absolutely nothing else interests you fully, then skip college and work in the industry somewhere: Property Management, a Brokerage, Appraiser, something. Don't spend college money on something you're not going to enjoy and spend a while doing. Listen to all of us when we say working at a job you don't enjoy isn't fun, working at a job you hate is pure misery. Yes, it's good for capital to start investing, but there's much more to life than that. 

There is also so much here on BP and in the Online world as a whole on RE Investing, I don't see how paying for a 2 or 4 year degree would be worth it. If you're adamant about going to college (which, as a Student Housing investor, I get), then go into some kind of Business/Real Estate program. Do it locally at a community college or low cost University, don't saddle yourself with crazy debt. 

Otherwise, it's great that you're looking to do this at a young age, but you have to figure out you first. Everything else will fall into place after that. Good luck!

Well, considering a smoke detector at Home Depot costs around $8 and a CO detector costs around $25, it's really not a huge cost even if they are required. I have smoke detectors in every bedroom and at least one in the hallway, first floor, and basement. CO detectors I would think one on each floor would suffice most places, as well as a fire extinguisher in the kitchen, but it all depends on your municipal code. 

 "I hear water running!" That's gold, I'm using that!!!

Hi @Sarah B., we are a Full Service PM/Brokerage here in Toledo. Let me know if you would like more information. 

Yup, this falls into the Stuff Happens category. I agree with others, you're not saving this lease. I would talk to the PM and see if they will re-lease your property since this is an extreme circumstance it appears. If they won't... might be time to look for a new PM. 

 Without oversight from regulators: yes.