All Forum Posts by: Nicole Heasley Beitenman

I don't think it's that bad. I'd be more concerned about the size. Is there a large demand for 3/2 MTR's in your market?

There are two great meetups in Cleveland you should check out. The first is the second Thursday of each month at the Harry Buffalo in Lakewood. The other is the last Thursday of each month at Slyman's in Independence. I'd start your networking there.

Quote from @Beth Anderson:

I have been cold calling and found an owner who is interested in selling. He wants me to call him tomorrow to set up an appointment to see the house. I am a complete newbie and don't know any experienced wholesalers that I can call to ask to accompany me on the appointment. I would appreciate any tips and resources that anyone can give me! 

The appointment is in Leavittsburg, Ohio near Warren and Youngstown, OH. I would LOVE any local people to touch base!!!

Thank you!

Hi Beth--I operate a monthly meetup that meets this Wednesday in Youngstown (Boardman). It's a great place to meet some locals with intimate knowledge of the Youngstown market. Do you want me to send you the details?

There was an episode of the BP podcast YEARS ago where the investor was borrowing against life insurance to invest. It might have been back to the Brandon/Josh days. As they described it, the principal of the insurance earning interest wasn't diminished by the loan like, say, a 401k loan would be. So a $100k policy with a $50k loan against it still earned interest on the whole $100k, whereas a $100k 401k account with a $50k loan against it only earns interest on that remaining $50k until the loan is repaid. I tried searching for "life insurance," "life insurance loan," etc, but even after narrowing it to podcast results, I'm not finding the episode. Anyone else that's been listening as long as I have out there who can remember which episode I'm thinking of?

Quote from @Owen Rosen:

Quote from @Nicole Heasley Beitenman:

After talk to other MTR operators, MTR tenants, and talking to my insurance agent, I have to change the advice I gave several months ago. General consensus is a renter's insurance requirement is a huge deterrent for travel nurses. They don't want to pay for insurance when they're only bringing some clothes and toiletries. We discussed this with our agent, and they recommended a traditional rental policy with an umbrella policy. 

 Renters insurance for a travel nurse would probably be about $10/month - that's a huge deterrent? You could easily bundle that into the cost of the rental and pay it for them...

 Good point! How much hassle would that be? Can I sign up for them or would they have to do it and name me as an additional insured party?

I worked for MRI for a year and a half. I'm happy to answer any questions I can.

Is it always in the same location, or do they move it around the country like the BP convention?

For us, it's been worth it, even though STR tenants are a way bigger headache than MTR tenants.

Your local REI meetup is another great place to find market-specific resources.

First, go to your local REI meetups. Second, hit up Rob Abasolo's YouTube channel. He started with arbitrage, and I believe he has some videos on that topic.