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All Forum Posts by: Eric Eickhof

Eric Eickhof has started 8 posts and replied 11 times.

Post: Anyone have experience with Wellings Capital?

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

I have been invested with Paul Moore from Wellings capital for 5 years. I have been very happy with the returns and communication.

Post: Anyone have experience with Wellings Capital?

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Hi David- I am familiar with Wellings Capital. I invested $50K of self directed Roth IRA funds with them about 18 months ago after being referred to them and listening to a webinar. So far they have delivered on their anticipated returns. From my perspective it has been a success, and I'll probably invest more in the future. Feel free to reach out with any questions, happy to share more details.

Post: Real Estate Attorney Recommendations for Texas

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

I am purchasing an apartment building in Dallas Texas, and looking for a referral to a real estate attorney. Any advice would be very helpful. Thanks!

Post: Creative Financing for Real Estate

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Hope to see you tonight for this event! 

Post: Creative Financing for Real Estate

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Come join Ryan Luthi and our panel of financing and investing experts to discuss how to make your money work hardest for you. We will discuss contract for deeds, leveraging life insurance for downpayment and some interesting commercial financing options. Come grab a beer and join in on the conversation!

Head to our Fulton Realty Facebook page to RSVP for this event and other upcoming events. 

@fultonteam

Post: IRA Investing Happy Hour! Wednesday January 11th from 4:30-6:30

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Happy Hour Guest Speaker!

Ever wonder if it was possible to invest in real estate through your IRA? Wonder no longer!

Come join us to learn more about the in's and out's of investing within your IRA. We are super excited to have Todd Grill, a local expert speak on the topic.

It will be informational and interactive including a Q and A session at the end. Todd will cover several topics such as:

  • What is an SDIRA?
  • How does investing with your IRA savings help you?
  • What are the pros and cons?
  • What are the tax implications?
  • And much more!
  • Appetizers and beer/wine will be served

Time: Wednesday, January 11th from 4:30-6:30

Location: Please PM me for location

Guest speaker: Todd Grill

Todd Grill collaborates constantly with many local companies such as Saunders Daily (Crowdfunding), Virtus Law and personally owns Nexus IRA Direct IRA, an IRA investment company that guides investors through the process of alternative investments. He has successfully started and sold multiple companies, one specifically in the IRA alternative asset investing arena and has extensive first hand knowledge on investing within your IRA through Self Directed IRA's (SDIRA). He is a local speaker, mentor and advisor to many and we are very excited be able to host him!

Event Sponsored by Fulton Realty and Waterstone Mortgage

Post: IRA Investing Happy Hour! Wednesday January 11th from 4:30-6:30

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Happy Hour Guest Speaker!

Ever wonder if it was possible to invest in real estate through your IRA? Wonder no longer!

Come join us to learn more about the in's and out's of investing within your IRA. We are super excited to have Todd Grill, a local expert speak on the topic.

It will be informational and interactive including a Q and A session at the end. Todd will cover several topics such as:

  • What is an SDIRA?
  • How does investing with your IRA savings help you?
  • What are the pros and cons?
  • What are the tax implications?
  • And much more!

Time: Wednesday, January 11th from 4:30-6:30

Location: Please PM me for location

Guest speaker: Todd Grill

Todd Grill collaborates constantly with many local companies such as Saunders Daily (Crowdfunding), Virtus Law and personally owns Nexus IRA Direct IRA, an IRA investment company that guides investors through the process of alternative investments. He has successfully started and sold multiple companies, one specifically in the IRA alternative asset investing arena and has extensive first hand knowledge on investing within your IRA through Self Directed IRA's (SDIRA). He is a local speaker, mentor and advisor to many and we are very excited be able to host him!

Event Sponsored by Fulton Realty and Waterstone Mortgage

Post: How to Make a Cold Call

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Making an impact as a cold caller in a world full of cold callers is an art. You have all these people out there who are constantly beset on all sides by scammers posing as the IRS, Microsoft, Carnival Cruises, you name it, all these people fumbling around until they trick some poor sap into forking over their social security number. This competition means you have about four seconds to prove that you aren’t a crook reading off a script and then compel them to hear you out.

I’ve made more cold calls than most people have made...well, calls. Only a whole book would satisfyingly cover the subject, but I can boil my experience down to a few key tips you’d be well advised to follow.

First way to do this is to throw away the script. Certainly isolate your talking points and aim your conversation in the direction you want to go, but the second you start reading into the receiver the person at the other end is going to let their eyes glaze over and think of any excuse to hang up on you. Be organic. Be human. Inject a personal anecdote, tell a joke, invoke a story from your experience. The better you can convey the notion that you’re a pro with everything in the world going for them, the better they’ll appreciate that they’re talking to a real mover and shaker and not some corpse stuffed into a cubicle somewhere in a call center.

Divert the conversation into something personal. I don’t mean you ought to start talking about your feelings, but if you have a story about the neighborhood they’re from, tell it as soon as you get the chance. If they have some horror story about an agent or contractor that tried to bleed them dry, tell them about the same thing that happened to you one time. Mention the weather if you’re near where your mark lives. It immediately shows you’re a trustworthy local instead of some shady outsider. The goal is to humanize yourself, make yourself a sympathetic character who they’ll remember by name rather than the interruption you caused in their day.

Be confident. State your purpose for calling right off the bat. Beating around the bush is a death sentence. You tell them exactly why you’re worth their time right after you tell them your name. If you want to sell their house for them, say “My name is Eric and I want to sell your house.” Since most cold calls are going to amount to nothing, it saves time to launch right into the objective.

I like to listen to a great monologue on YouTube before I make calls. Listen to Pacino’s closing speech from Scent of a Woman or Williams’ park bench monologue in Good Will Hunting. Heated oratory like that is going to put you in a loquacious frame of mind. You’ll be surprised how much a little pick-me-up like that can affect an entire day’s worth of phone calls.

Finally, remind yourself that you’re the best before you start calling. Only you have to believe it at first, and if you believe it strong enough others will pick up on your confidence and follow suit. Cold calls are tricky, but they’re singular in their objective. All you have to do is make them want to listen to and believe a total stranger who called them from out of the blue. What could be simpler than that?

Post: How to Pick a Good Tenant

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

Without a good tenant, your rental is less than worthless. Your life is going to get eaten up with complaints and errands, you’re not going to be able to count on rent, and I wouldn’t wish going through the eviction process on my worst enemy. If you didn’t need tenants, investing in real estate would be the easiest thing on earth. Fortunately, here in the real world there are a lot of things you can do to ensure you’ll have good people living in your houses.

The key thing while screening potential tenants is to make sure they can and will pay the rent. Their credit score is an easy and available rating, just what you need. I usually cut applicants off if their score is below 640. Proof of income is the other thing: make sure they have a job and can afford your rent. Ideally they’ll make three times the rent, but if they’re earnest and reliable they may make twice. The bigger the buffer, the less likely they’re going to stiff you on the last day of the month because other bills got to them first.

The next piece of the puzzle is the criminal record. I don’t flat-out reject someone just because they got arrested in the past -- little indiscretions aren’t the definition of someone’s character. If they did something felonious or extra heinous, though, I don’t want them in my building. It can be tough, but I find other outlets for being charitable without jeopardizing my property value. A bad tenant can ruin a rental in more ways than one.

Finally, you have to meet your tenant face to face, really get an impression of them. If you advertised your property well, you’ll probably have a handful of applicants who passed the financial and criminal tests. Pick the one you have the best feeling about and rapport with. If they like you too, even a little, they’ll be a lot more civil in your interactions and just treat your property better. Like so many facets of real estate, personal impressions mean a lot.

Leave as little as you can to chance. The human element to renting is the most hectic and important part of it. Surround yourself with good people, tenants included, and you’ll have a lot less to worry about.

Post: 1031 Exchange Investor Summit - Minneapolis/St Paul MN

Eric EickhofPosted
  • Real Estate Broker
  • Minneapolis, MN
  • Posts 13
  • Votes 4

My team and I are hosting a Real Estate Investor Summit on March 30th, and you are invited!

OUR GOAL:

You walk away with concrete and helpful tips on investing in the Twin Cities, an understanding of the entire 1031 exchange process, and you get a chance to meet some local movers and shakers that help you on your journey!

TOPICS:

> Buy & Hold Investment Property Tips and Insight for Minneapolis and St Paul

> 1031 Like kind Exchange Process - Avoiding pitfalls to keep your gains!

EVENT:  Wednesday March 30th - 8am-12pm 

8am-9am - Networking/Coffee/Light Breakfast

9am-12pm - Local and National Speakers, Panel Discussions, and Q & A

To learn more and sign up go to: (Limited space available)