Greenwich, CT · Member since 2018 · 21 posts · 25 votes
Last year I bought my first Multifamily (7 units). My goals this year is to buy a larger apartment building (+16 Units) with my business partner.
I read a post about someone doing a mastermind group in Mass, and thought heck I would love to go to this if it was in CT. I thought it would be great to set up a group of other investors that are looking to do the same or something similar. We could use the meetings to discuss deal sourcing, investment criteria, running pro-forma's on current opportunities etc. I learned a ton on the last purchase and any lessons I can share or advice I can use from other investors on this next purchase would be great.
I don't envision this being a large ordeal just a handful of investors who want to throw ideas and whatnot around.
The only prereq would be that you're in the hunt for larger multi-families.
Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
8y
@Account Closed
Awesome you were able to get a 7 fam! How did you finance it?
In the facebook group there are now about 160 investors mostly in MA/RI, but some also in ct! Since these states are so close together, I could send you the invite for the group- I could also add you to the hangout group of about 95 investors where you could put your contact info etc,
Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
8y
@Account Closed
Awesome you were able to get a 7 fam! How did you finance it?
In the facebook group there are now about 160 investors mostly in MA/RI, but some also in ct! Since these states are so close together, I could send you the invite for the group- I could also add you to the hangout group of about 95 investors where you could put your contact info etc,
Awesome you were able to get a 7 fam! How did you finance it?
In the facebook group there are now about 160 investors mostly in MA/RI, but some also in ct! Since these states are so close together, I could send you the invite for the group- I could also add you to the hangout group of about 95 investors where you could put your contact info etc,
just let me know!-
Hey @Steve Bracero, I'm definitely interested in being part of the Facebook group. I'll shoot you a PM!
Greenwich, CT · Member since 2018 · 21 posts · 25 votes
8y
@Steve Bracero I financed the acquisition ($332,000) with 80%LTV, 5yr fixed rate @ 5% with a 25 year amortization through a local credit union. Its a value add property that we are hoping to hold for 4 years, have a 2.0X equity return with a 25% IRR, so far we are on track! Also please send me the Facebook invite that sounds great.
As far as the CT Multifamily Mastermind Group it seems like there is a lot of interest, so LETS DO IT!! I'll set up the event's location and keep you guys posted.
Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
8y
Colin Stuart awesome idea. Count me in. Always looking for opportunity to network and help one another advance their holdings. Please share group when you create it!
Rental Property Investor · New York City, NY · Member since 2015 · 244 posts · 66 votes
8y
@Account Closed Would love to join this group. Looking to invest and build relationships in CT! I think there's a very under valued market here and excellent opportunity to buy while prices are insanely high elsewhere. It's only a matter of time before CT picks up!