All Forum Posts by: Mike German

Love this thread! It's a tough situation with the changing world of therapy animals as well (therapy Boa constrictor, perhaps?). We charge $25/month for smaller animals like a cat; $50/month for dogs. I've also been burned by a tenant sneaking a dog in and only after eviction, we found the damage to the property. Getting contractors to bid the cleanup/turn was a challenge and another lesson learned.

I'll check it out, @Jared Townsend- thanks for sharing! 

Good luck on your journey! I agree with the others regarding education and books. There are so many directions you can go. Set a target goal and focus on education and actions to accomplish it.

Hi @Ryan Karel, although companies can fail, it’s surprising you received a cancellation so quickly. Although each state has separate rules, generally, the solvent companies of the state would come together and put the company is receivership then attempt to distribute the risks among the stable carriers.  Best bet may be to go set up with a more reputable carrier with a long track record; they have a way of weathering tough times for the long haul.

Hi BP,

I'm a Colorado based Independent Insurance Agent (and investor) looking for Florida Independent Agent. Please let me know if you have anyone you know, like and trust!

Thanks,
Mike German

Congrats on getting started! You may want to start with a realtor (as opposed to a HML. Many HML's can lend all over and may not have a presence here. There are a number of active realtors in the Cbus area (browse the other Cbus forums) and they can help you with contacts, areas, etc. In general, a list of PML's wouldn't be posted as you would violate the nature of being a "private" money lender.

Absolutely agree with @Account Closed! Had a not so nice surprise at the beginning of 2020 with sewage in basement (so visual and so horrible).  A simple $180 sewer line video scope could save you thousands (or more). Outside of that, everyone hit it: General inspection. 

Hi @George Penree,

Welcome to BP! 

The Columbus market (like most of the country) is very competitive now so if you were house hack, you may get a better deal.  As others have mentioned, BP Pro has great access to deal analysis tools and an arsenal of past webinars that can add tons of insight.  Also consider Columbus Ohio Real Estate Entrepreneurs (our local reia). Although all meetings are currently virtual, this group has many seasoned investors in every aspect of the business.

Best of luck!

Hi @Charles Richardson,

My guess is a 96 Unit building is out of the comfort zone for a 99.9% of BP members (including me!).  The ones that can handle that type of deal are either syndicating it or in some other partnership.

Think of Coach  John Wooden: “Be quick, but don’t hurry.” Instead of jumping into this size apartment, test the waters with a smaller project.

You could get a job with a PM company or commercial company to learn the ropes while creating income and ideally, building up your scores.

hi @Rohit Kejriwal,

I’m not targeting any major rehabs but you may want to consider you off-line networking.  Scope the neighborhoods that your considering.  Every time I drive for dollars, I meet and hand out my card to contractors of all trades.  You can see their work first hand and find out who runs their crew.

Good luck!