All Forum Posts by: Erin Dorsey Robinson

@Darwin Crawford I have always said that the way to win is to make people feel VERY VERY good about giving us exactly what we want. It works! But it requires that we give something first. I see you know that too. :) It's a very particular world view, not everyone's natural gift or orientation to be sure, and that's ok. Other people are good at other things. But that makes it all the more effective for those of us who practice it. Best to you, my friend.

@Isaac S. I definitely like the idea of people helping each other out, it's true.  But I'm not knocking anyone for whatever decision they make for their own business. We are not better off if people lose their livelihood on the landlord side also. It's a hard time for everyone. 

I really appreciate the stories from property owners like @Darwin Crawford whose tenants stretched themselves to pay as much as those from others who decided to give tenants breaks. I was just reaching for the silver linings in the midst of it, and sure enough, people had some to share. 

'

@Korok Chatterjee In addition to the other suggestions, I would call and survey some property managers. You are a potential future customer for them so I would think they should be willing to take your call. You might even hit two birds with one stone- this could double as a test for the quality of customer service they provide and help you decide who you might want to work with down the road.

@Marija Sparano My husband and I live, work and invest here in Cleveland and have found that $100k can go a long way.  We have 10 properties and our clients and friends have many more. $150/month for capX should be find if you buy a home in decent condition...and of course assuming no major disasters early on. You definitely want to take fewer risks on the purchase if you need more predictable expenses. There are plenty of places where this is doable. Maple Heights and Euclid come to mind in addition to certain pockets of the city. But keep in mind that even at the zip code level, these areas vary from one section to the next, so you will need some eyes and ears on the ground to help you discern which properties will meet your criteria.

@Mitch Messer!!! YES!!! Where else can you put this post so everyone can see it?! Shout it from the rooftops! This is THE Bible for how to build a good relationship with a Realtor (Or other commission sales professional) who is doing good work for you...(No blasphemy intended:0).

@Casey Roman That’s a very honest self assessment. I commend you on acknowledging your strengths and weaknesses, people who can do that start out ahead, in my opinion. BUT there is good news! You can delegate the things that you are not good at. For example, in Cleveland, you could buy 2 solid properties in C areas or 1 solid B and cash flow on your $100k including the cost of property management company. People do it every day, my husband and I included. We have bought and held 10 units in this price range. Happy to help if you want to know more. In CLE $100k still means you’re ready to play ball!

@Ethan Gregerson I am excited for you! My advice would be to read and learn all you can and to surround yourself with people who have already reached the place you want to be. I started a discussion recently that people responded to with some amazing advice for new investors. It was the Fastest Way to Make $1 Million. I don't know if we are allowed to link to things we have written ourselves, I don't want to get dinged by the monitors. But, if you check that out people have really given some great ideas about how to succeed in real estate. There is another young person on BP who recently posted about being 15 or 16 and needing book recommendations. Check out that post and read some of those books people are recommending. 

Lastly, consider getting your real estate license. You can take the exam at 18 in Ohio. But that would be a great way for you to start learning the real estate business while generating some capital that you can use to invest in your own properties. By the time you're 25 you could be killing the entire game. Just imagine.

Don't give up. Learn something every day. Take risks. You have absolutely nothing to lose and everything to gain by pushing yourself out of your comfort zone.

Good luck!

If you are looking for info that is more granular than what you find in the census data (MSA), you might need to contact specific departments in local city governments for help. Police departments provide crime statistics for precinct areas, for example. What city are you looking for?

@Javonn Musgrove I love this question! So thoughtful of you! I wish all clients were so considerate and appreciative of good service. It would make being a realtor even MORE fun.

Gift ideas for your realtor:

1. Buy another house lol!

2. Refer lots of friends and tell them how great he is

3. Repeat :)

Bonus: Get your license, join forces. Make lots of money together.

@Glen Mitchell I understand exactly what you're getting at. I have some examples of these methods in action very close to home. I think my response was meant to be more of a "yes, and...". IF one could figure out how to save it AND save it in smart places, all the better and all the more money your money makes.