All Forum Posts by: Rob Gillespie

@Todd Stricklin Welcome to BP!  Depends how you look at it. "is it worth the money?"

1. if you have no other way to learn the business of real estate and you spend 20k to learn it and you IMPLEMENT what you learn... Then Yes it is worth it. 

2. You can learn more on here than you can on a weekend bootcamp. When I mentor folks, I PERSONALLY work with them, that is why I do such a limited amount of mentoring. A lot of the big course guys have employees work with the students. 

with that said, I would personally spend some time on here first and learn as much as you can for free. 

Fell free to PM me if I can help in any  way. 

Good Luck!

@Zachary Morrell Welcome to BP! 

I would pick your manager based on where you buy the property. 

Some management companies are great with certain types of homes and not so great with others. 

I manage in house for a lot of out stuff, When I sell off to investors, some self manage, others need inner city management and for the Burbs I have a different group. 

I have one manager that does a nice job and is only a flat fee of 37.50 per month, which is far less than the standard 10%. 

Let me know If I can help ya. feel free to PM me. 

Good luck!

This is an all day mastermind/focus group for ACTIVE real estate investors. 

there is only seating for 10 people.  There are 2 seats left. 

There is NOT A CHARGE for this meeting.

Here is how it will work. 

You have about 15 minutes that you stand up and tell the group something that is working well in your business, then ask the group to solve a problem you are having. 

The rest of the group will then spend the next 20-30 minutes sharing their resources and experiences to help you solve the challenge and go to the next level.  

I will need to talk with you to see if you qualify. It is in the Cleveland area, so probably only for folks that are within 100 miles would be interested. 

This is an AMAZING opportunity to grow your business, meet other great people that are in the market doing deals and all for FREE!

This is the same type of group that have membership fees of 20-35k per year! 

Shoot me a PM. I am looking to fill the final two seats by the end of the day Saturday.

I personally believe you should do a Hybrid turn key model. buy something off market, have some connections in the town you buy in, but I would not rely on a one stop shop. Even living In the Cleveland market, I outsource everything and if something goes wrong with either management or construction, I just plug new team to fix the issue. 

If you want to discuss the Cleveland market, feel free to PM me. 

@Millie H., This is a GREAT area. I would be interested in taking a look. Please PM me with details. You could most certainly wholesale it or even Rehab it yourself. I can tell ya more once I see it.  

@Michael Norris I am not an agent, you may try Your policy will be different depending on the area. Insurance companies are designed not to loose money, LOL.  With that said, if you do it correctly, you can do VERY well on a claim. I had a house catch fire. It was a 4 unit. (2 doubles on 1 lot.) One unit burned. I had the claim up to around 70k, fixed it myself for about 13k and paid the property off with the difference. From that point forward, I encourage my tenants to smoke in bed. LOL! 

Point is, in the unfortunate event of a disaster, I would highly recommend being your own General Contractor and not using a "storm/fire chaser". 

@Kelsey Teague, welcome to BP!!!

You will get a ton out of this site. If you stay committed to goin on here and reading and being involved. (something I need to work on, LOL)

Also check out your local REIA groups. (Real Estate Investor Association.)

When I mentor someone, I have very simple rules.... 

1. They MUST be an ACTIONEER. (One who takes action FAST on new knowledge)

2. They CAN NOT be a "Wantrapreneur" (One who talks about doing business all of the time and takes no action)

When I meet someone and they tell me they are a real estate investor and have not done any deals, I simply tell them if they are going to make up a profession, tell people they are an astronaut, it sounds much cooler! LOL

My advice is not to get caught up in seeing  someone in front of their Jet or Ferrari and end up spending 50 thousand on training, make sure whomever you work with is actually in the business.

Hope that helps!

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@Taylor Rees That is awesome that you Brew Beer! My wife owns a Vodka Company. 

As you know, being in the booze business, real estate is a cake walk! LOL

Cleveland is a great market to grab cheap cash flow properties. I offer financing for most of my deals because lets face it, if you are in this business full time, it is challenging to get a bank loan. My point is, do not worry about w2 and getting bank loans. that is irrelevant to your success in buying rentals. 

I would love to meet up sometime and of course sample your beer!

OREIA is working hard at raising money for this.

I have donated time with new investors that have paid into the fund to fight it. I also do classes on wholesaling and finding off market deals for my local REIA and let them keep all of the proceeds to put toward the legal fees to fight POS and rental registration. We are having a Real Estate Investor golf outing this spring and will probably raise somewhere around 8-10k that will all go toward the fight!

My point is, as investors we need to stick together and fight this or we will be taken out by these BS laws. If you have experience or something of value to donate, I encourage you to get with your local REIA and see what you can do to fuel the fund for the cause!

Just my 2 cents.

2 decades in Cleveland Ohio and about 50 miles out. 

Focus on one area for a long period of time