All Forum Posts by: Marc Ramsay

Hi @Paul Sorgi;

The properties are currently owner managed, however I am getting a PM proposal from one of our esteemed BP members to take over as PM should an investor need to buy it turn-key.

Marc

@Joel Owens is right about the insurance. I have run into the issue when doing due diligence a number of times where the quotes I am getting on the property are nowhere near as low as the rates that the current owners states they are getting. It can really affect your bottom line.

One reason can be that the current owner is insured for a stated value, and a new quote may be for replacement value. If the current owner is only insuring the building for what he paid for it instead of what it would cost to replace on a total loss, then the rates will be much lower.

Is it a house or an apartment?

Most places are already wired for both. Just make sure they aren't considering satellite TV and will be bolting an ugly satellite dish to the property somewhere. Other than that it shouldn't be an issue.

Hi @Brian Hibbs Welcome to BP! Nice to see more participation from the Pacific Northwest. It looks like you have a couple of years to learn as much as possible from the best RE resource on the web. I know you'll get a few months into this and be chomping at the bit to get started.

Good luck and stay safe!

Thanks @Stephen Masek

BP is a great place to learn and get other opinions on how to tackle a problem, or develop a strategy. Sometimes criticism is a great way to reassess how you are doing something and make it better; whether it's your investment strategy, or your presentation. My only goal in my post was to make anyone who is interested in speaking publicly, and desiring to be heard as an authoritative figure in their field, understand their need to listen to themselves speak and 'hear' what other people are hearing.

I think Josh and Brandon have done a superb job of the podcasts, and I enjoy the non-stuffy, fun feel to them. It's good not to get too serious all the time. I didn't want my post to seem like it was targeting them or their podcast, because it wasn't, but that seems to be the result. It was always aimed at those who want to present to the public and have their message heard, and not how poorly they presented it.

I get bombarded with emails from a lot of RE marketers and 'gurus' and they usually link back to a video. Sometimes I have a look out of curiosity and usually get turned off by the presentation pretty quickly. But sometimes you get a good presenter and you hear the message, and are not distracted by crappy language skills, bad grammar, and a horrible sales pitch that plays on the same selling techniques I've seen too many times.. It doesn't mean I am going to buy in to what they're selling, but I may actually listed to the whole thing.

Now that I've killed that subject, have a great day! :)

For a seasoned investor already in the Cleveland market this probably isn't the deal for you as you could put together something like this yourself and get a better return. However, for investors living in or contemplating markets with lower returns, this is a great opportunity.

I had 100A on a 3200 SF house with no issues until I put in the hot tub. Even then I never maxed it out. For 750 SF with gas heat and water you will be more than fine.

I only upped it to 200A once I built my workshop and ran a 100A sub-panel to it.

As Tim Allen would say... 'More Power!!!'

@Joshua Dorkin I hope you read into my post that I was praising the work you and Brandon have done with the podcasts, not trashing them. The comments were more aimed at those who want to be on your show that they may make themselves aware of how they speak when being interviewed. My apologies if I have offended anyone.

I have gone to the beginning and have started to listed to the podcasts from #1 now instead of just the most recent ones as there seems to be great content throughout. I'd like to make a suggestion to the presenters and the hosts that was made very clear to me when I went to a Toastmasters meeting.

Avoid the use of filler words and phrases such as 'like' and 'you know'. This was really driven home to me when I listened to podcsat #1 and the guest used the filler phrase 'you know' in every second sentence. One of our hosts was guilty of this as well, but not to the same extent. It got to the point I had to turn off the podcast because it really started to get to me.

I realize these podcasts are not professional productions by a major media company, however, I think @Joshua Dorkin and @Brandon Turner have truly made an effort to bring real value and content to BP with them. I also understand that not everyone is a professional speaker, and it's the knowledge and experience of the guest that is most important, and not their grasp of grammar. However, I do expect heavy use of the filler words from teenagers and not older successful members of BP.

I expect to get flamed a bit on this as some may feel that it's inconsequential in the grand scheme of things, however, all the jokes and kidding around that goes on during a podcast aside, I believe it speaks a lot of the presenter's credibility to be able to speak like an adult and not a teenager. Have a listen to podcast #1 then listed to the most recent podcast with @Ben Leybovich and you'll see what I mean. 2 hours of listening to Josh, Brandon and Ben was a pleasure, whereas 10 minutes of podcast #1 was painful. Don't get me wrong, I enjoyed the content and the valuable information being discussed, but I just couldn't finish listening to it.

Just my 2 cents. Flame on...

The latest podcast on MF investing touches on the 2% rule. Have a listen....