All Forum Posts by: Erick Berthaldan

Hi Kelli,

Welcome to the Biggerpockets Community.

As everyone mentioned purchasing a multi-unit property and "house hacking" is a great way to get started in real estate investing. You can minimize your housing debt service, get a renter to pay down your mortgage and develop equity in a property. 

Good luck on your investing!

-Erick

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.

-Erick

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.

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. 

-Erick

Rahul,

I certainly will add you to my buyers list and if anything comes up of interest I will let you know. 

-Erick

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. 

-Erick

@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. 

-Erick

Federico,

Thanks for sending that link.

-Erick

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. 

-Erick

Alfredo,

Another thing you can do is do a search for recent investor cash sales in the area in which you are finding deals in. I've found that www.listsource.com allows you to search by zip code, equity %, corporate owned, etc and from there you can determine who is actively buying properties in your market. Hope that helps!

-Erick