All Forum Posts by: Michael Ehrmann

Hey BP,

I know a lot of people on here avoid mentorships but I'm looking for people that have gone through one and had success. I don't have the time or mental capacity to learn everything on my own- I own a insurance agency and work more than full time. I'm really trying to focus on creative financing as I know a lot of investor have had extreme success with this. I have talked to a few different communities and REKI has really sparked my interest. Thoughts, concerns are all welcome!

Thanks!!

I'm looking for a little guidance. I've been searching high and low for my first investment. I'm looking for a multifamily but what I'm struggling with is targeting a market. I have done a tremendous amount of research, possibly too much, which has gotten to be overwhelming. I live in CA and due the housing prices here, I'm looking out of state for a lower entry point. I was focused on Cleveland, Ohio but the more research I've done has scared me off- population seems to lowering and not much job growth. I don't necessarily need something with a high COC return, I'm really looking for appreciation, something to buy and hold. Any tips and recommendations are much appreciated.

Hey Stephen,

I'm an insurance agent in CA. You need to look for a landlord (tenant occupied aka dwelling fire) policy. All polices are NOT created equal, make sure you get a good referral. Some agents sell strictly on price but you can always get a rate down by increasing the deductible. If they bring up the premium before going ALL coverages, call the next shop.

Hope that helps. Happy shopping!

I also might want to include that I’m an out-of-state investor. 

I’m looking at multi family homes in the Cleveland, Ohio area. Some of these homes were built in the early 1900s, but the cash flow is great. The cap rate is about 7.9 - if my numbers are correct. Looking for a little guidance here. What’s your experience with older homes, will it end up being a money pit?