A quick lesson learned about on market properties

[Craig Chrzanowski]

Yesterday I learned why many seek to find the off market deals. I looked at a duplex and made an appointment yo see it and while I was there two other people showed up. One of them stayed to see the property as well. He brought his infant into the abandoned, and very dirty unit in a carrier.

I was only able to see one side as the other was occupied and had not been able to be notified. I thought I was ahead of the game. Today just one day later I'm told there are multiple cash offers above asking price. I just wanted a humble beginning to my real estate empire. I wanted to house hack that small duplex but I got pushed right out even though I was prepared to offer slightly above asking price and had solid financing in place and ready to go. The supply of houses not in very rough neighborhoods is low right now. Maybe it gets better in spring or maybe working with on market properties in the 2-4 family residential world isn't realistic in Connecticut, I'm not sure.At the moment. I'm reassessing my approach and thinking long and hard about direct mail and lists.

[Michael Noto]

@Craig Chrzanowski House hacking a 2-4 unit multi family is definitely possible in our CT market. I work with people who execute this strategy a lot. 

This is just one experience and even if you don’t realize it now I bet you learned a lot from it which will make you more prepared for the next one. Best of luck moving forward and don’t give up!