Scott New London CT

[Scott Koss]

Hello everyone! I have been coming to this site everyday reading and learning more about property investment. I thought now was a good time to introduce myself to the group! My name is Scott I'm 23 years old and I just graduated from Mitchell College with my bachelor's degree down in New London CT. I have been living here the last 5 years and am originally from Tolland CT. I am currently a manager at Samsung but my true passion is property investment due to the amount of income you can create for yourself when done correctly. I want to start investing in properties and create a positive monthly cash flow using multifamily properties. I have been trying to educate myself through books like "Rich dad poor dad" and online resources but nothing is better than actually getting out there and talking to people who have done it. I have saved 10K and am getting ready to make my first purchase in the southern eastern CT area. I was hoping any members from the CT market could help explain some different approaches they use in their own real-estate success. For my first purchase I was hoping to find a multifamily property around or under 130k using a FHA loan. Please share your thoughts or ideas on the best way to get started, what loans to use, pretty much anything really. I look forward to hearing from everyone and am extremely excited to be a part of this amazing website!

[Karin Crompton]

Hi Scott - I'm in SECT as well! We just flipped a house on Montauk Ave, in fact ... right down the road from your alma mater. :)

Have you checked out CTREIA? There are a lot of great networking opportunities there and some very experienced investors. Next meeting is July 15. They have a website you can scope out, too. Guru-heavy on the monthly speakers, but usually a good Q&A session before that and, again, some good networking. But pay attention - I've found that the really successful guys are the quieter ones, so sometimes it takes a little while to figure out who they are.

I'm a bit of a newbie myself and am focused on single-family rehabs w/an eye toward buy-and-holds (I need to learn a lot more in that arena). There's a lot of opportunity in our part of the state.

Brandon Turner, values can vary widely in our corner of CT, which has everything from minimum wage casino workers to million-dollar homes in some affluent towns and particularly the seaside areas. I'll let Scott Koss answer, but there are a lot of properties in his 130k range as well.

Good luck!