Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
Hi Everyone!
My name is Erick Berthaldan and I am a real estate investor and mortgage broker based in the Bay Area. (Oakland specifically) I've been a long-time reader of the forum but my goal this year is to get re-engaged with the community and really network with other investors. BP is a tremendous resource and I would love to meet and connect with like minded people who believe in the benefits of RE investing.
Currently I'm working with Michael Quarles over at Buy Sell Fix Flip and marketing directly to sellers out of state to buy discounted properties. I'm looking to network with other investors who work in both the market in which I live (Bay Area) but also the out of state market in which I'm currently working in. (Cleveland, Ohio)
I look forward to getting to know some of you on this site and learning/developing my real estate career!
Real Estate Broker · Cleveland, OH · Member since 2012 · 771 posts · 252 votes
10y
Sure thing.
I'm actually a full time attorney that focuses his practice heavily on real estate. I also have a small portfolio of rentals that I'm always looking to grow and I'm taking classes for my real estate license early in 2016 so I can better assist other investors in building their portfolios too. I'd recommend you look into buy and hold investing in B and C class properties if you're looking to invest in the Cleveland area remotely. With the proper team in place to handle day to day operations, that'll be the most headache free way to invest remotely. Feel free to contact me directly to discuss further.
Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
10y
Originally posted by @Account Closed:
I'm solely focused on buying multi-families in East Oakland
(also @erick berthaldan)
Random thought of the moment:
If Hooman Freaking Sultanpour is ever your assigned appraiser, start flipping out right away, say he was sexist/racist/whatever against you (or the realtor), and demand a new appraiser ASAP.
Unless of course you want to use the low appraisal to negotiate the price down. In which case he is excellent for your goals. :)
Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
10y
Thank you for the welcome Sajju!
I live in Rockridge so we're not too far from you.
That being said I'm definitely interested in networking with you and sharing my current plans along with seeing what you're doing as well.
My primary focus right now is marketing directly to sellers in Cleveland, determining motivation and seeing if they are interested in selling their properties at a discount. Our mailers are getting pretty good results and from there I'm simply contacting the sellers and seeing how much they are looking to sell their homes for. What I'm looking for would be investors or others who are interested in purchasing these properties to keep as rental properties.
I live in Rockridge so we're not too far from you.
That being said I'm definitely interested in networking with you and sharing my current plans along with seeing what you're doing as well.
My primary focus right now is marketing directly to sellers in Cleveland, determining motivation and seeing if they are interested in selling their properties at a discount. Our mailers are getting pretty good results and from there I'm simply contacting the sellers and seeing how much they are looking to sell their homes for. What I'm looking for would be investors or others who are interested in purchasing these properties to keep as rental properties.
-Erick
Sounds good. I love my Cleveland property and don't think I could ever part with it. From what I hear, Cleveland is really shaping up and recovering from the downturn. Glad to see it happening there.
By the way, Rockridge is amazing. Had a chance to buy my primary residence there a few years ago, and now I am kicking myself for not acting on it
Welcome aboard the vibrant BP community. You already have some experience and with additional effort, will quickly climb the REI ladder to its pinnacle.
To be more successful, you simply have to work on the other elements to progress your REI pursuit. Below are some quick links to get engaged on this site.
Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.
Feast on the Podcasts, #askbp Podcasts, blogs and webinars
Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.
Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
10y
Linval,
Thank you for all of the links and information I will certainly check it out! I have no doubt in my mind that the more I engage and participate in the forums the more I will learn and grow as an investor.
Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
10y
Federico,
I think it depends on the specific property. We would either wholesale the deals we get to an investor who plans on keeping the property as a rental or ideally what we would want to do is wholetail. We would close on our deals and then resell the property to an individual who may live in the property.
My name is Erick Berthaldan and I am a real estate investor and mortgage broker based in the Bay Area. (Oakland specifically) I've been a long-time reader of the forum but my goal this year is to get re-engaged with the community and really network with other investors. BP is a tremendous resource and I would love to meet and connect with like minded people who believe in the benefits of RE investing.
Currently I'm working with Michael Quarles over at Buy Sell Fix Flip and marketing directly to sellers out of state to buy discounted properties. I'm looking to network with other investors who work in both the market in which I live (Bay Area) but also the out of state market in which I'm currently working in. (Cleveland, Ohio)
I look forward to getting to know some of you on this site and learning/developing my real estate career!
-Erick
Welcome Erick. We have similarities in that I too am based in Oakland and looking into contacts for out of state investment. I have noticed that alot of investors in the Bay Area are investing in the Cleveland and Indianapolis areas. I'm curious, what drew you to Cleveland?
Welcome to the site! Cleveland is a great area to invest in. I work with a lot of Cleveland investors and they see great returns in the area. @Frederico Gutierrez is part of Holton Wise team and their investors have had a lot of success in the area. Makes me wish I hadn't invested in Rochester NY where we live and property taxes are outrageous compared to other locations around the country. Maybe you could pass deals on to him that you are not interested in and they can educate you on the area. Turnkey-reviews is a great site to view investors satisfaction with property management companies.
@Account Closed I see value investing locally in your market as well. Property values rise greatly in CA, and you don't see property values increase on the East Coast like they do on the West Coast. Plus, you max out on conventional financing at 10 properties, no matter the loan amount, or units.
I think it depends on the specific property. We would either wholesale the deals we get to an investor who plans on keeping the property as a rental or ideally what we would want to do is wholetail. We would close on our deals and then resell the property to an individual who may live in the property.
-Erick
Please add me to your mailing list for the property I invest in some pockets in Cleveland
Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
10y
@Justin Nero
Justin,
I tried marketing to a couple of different areas both in CA and out of state and the response rate wasn't that high. Our marketing has done better here than anywhere else so that's why we're working in this market. It does seem like there is a good amount of interest in Cleveland along with Indianapolis and I think it has to do with the lower price points, possible cash flow and deals that can be found there.
Lender · Berkeley, CA · Member since 2014 · 13 posts · 4 votes
10y
Jerry,
Thank you for the welcome. I've connected with Federico and from what i can tell the Holton Wise team is very well respected in the BP community so I definitely need to check them out.
Welcome to BP. Lots of California investment finding its way to Cleveland, Ohio and you'll find plenty of discussion about it here.
Thank you for the welcome.
It looks like you're a full time investor in Cleveland is there a particular niche that you focus on? One of my goals is to network with other investors (both local and out of state) that are actively buying and selling in CLE.
Real Estate Broker · Cleveland, OH · Member since 2012 · 771 posts · 252 votes
10y
Sure thing.
I'm actually a full time attorney that focuses his practice heavily on real estate. I also have a small portfolio of rentals that I'm always looking to grow and I'm taking classes for my real estate license early in 2016 so I can better assist other investors in building their portfolios too. I'd recommend you look into buy and hold investing in B and C class properties if you're looking to invest in the Cleveland area remotely. With the proper team in place to handle day to day operations, that'll be the most headache free way to invest remotely. Feel free to contact me directly to discuss further.
Full-Time Investor & Agent · Amherst, OH · Member since 2014 · 149 posts · 50 votes
10y
@Erick Berthaldan
Welcome to BP & the Cleveland market Erick. I'm an investor/agent here in Cleveland. We buy single family rentals and fix & flips. Our main focus is the West side. Please email me any good deals you come across. Let me know if I can help you in any way.
I'm actually a full time attorney that focuses his practice heavily on real estate. I also have a small portfolio of rentals that I'm always looking to grow and I'm taking classes for my real estate license early in 2016 so I can better assist other investors in building their portfolios too. I'd recommend you look into buy and hold investing in B and C class properties if you're looking to invest in the Cleveland area remotely. With the proper team in place to handle day to day operations, that'll be the most headache free way to invest remotely. Feel free to contact me directly to discuss further.
I appreciate the advice and currently I'm starting to build a team to help manage the investing out of state. I will certainly keep your name and contact information and if i have anything to offer or need anything I will let you know.
Good luck on the real estate classes! It took me a while to complete the courses and eventually take the state test here in CA but I'm certainly glad I did it.
Welcome to BP & the Cleveland market Erick. I'm an investor/agent here in Cleveland. We buy single family rentals and fix & flips. Our main focus is the West side. Please email me any good deals you come across. Let me know if I can help you in any way.
Tim,
It's great to meet you and I will certainly let you know if anything comes up. I'm currently negotiating with a motivated seller who owns several properties on the West Side so I'll let you know if we can work something out. I'm still familiarizing myself with the different neighborhoods and areas but I'm starting to figure out which areas to avoid and which areas to spend time marketing to.
Boonsboro, MD · Member since 2011 · 137 posts · 26 votes
10y
Welcome to BP! You do definitely have a head start! I am not familiar with Cleveland, but always willing to learn in any state that is good to invest in.