All Forum Posts by: Aaron Ram

@Sam Samandar Great to see you have interest in building a RE portfolio. It can get overwhelming with this much information at your fingertips these days.  I was in your shoes back in 2011 and this forum actually gave me a push to make my first investment purchase. I have a 10 property - 15 unit portfolio between Stamford and Bridgeport. Multis, SFs, Condos and short term. More than happy to offer any advice. Good luck with your journey Sam.

@Eddie Garcia jr Welcome!

Followed that same path since 2011 and it paid off big time. I have a portfolio of multis, SFs and condos within Stamford and Bridgeport. More than happy to share any information. Good luck!

Hi @Todd Hotes

I started my investment journey on biggerpockets back in 2011. It is a great resource and I am sure it will accelerate your passive income goals. 

I started with SF students rentals back then around Sacred Heart University. Now I have a portfolio of multifamily, condos, and single families within Bridgeport and Stamford. The passive income is attainable, the deals are just harder to find and of course harder to make sense with rates. I would not let this market discourage you. I bought my first seller financed 4 family in Stamford this past year. Good luck!

Hi Jonathan, 

A fellow Stamford investor here.

How did your deal turn out? 

I was able to complete my first seller financed deal on a 4 Family in Stamford this past November. I worked for the owner a number of years and was able to get an off market deal done with seller financing. It all worked out better than expected. My attorney played a big part in this coming together successfully.

Hi Ryan, I understand what your going through. I am located in lower Fairfield County and the FHA or low down payment conventional loans do not get much traction with the amount cash investors have in this market. There is very little inventory and the demand is very high. Great that you have a few different options. It looks to me like you should get a savvy investor friendly lender. There are a couple strategies to have your offer be very attractive and still be able to use your lower down payment loan. Feel free to DM for a contact.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $152,000
Cash invested: $25,000

SF Student Rental

What made you interested in investing in this type of deal?

Posted the deal back in 2011 on Biggerpockets before I bought it. Gave me the confidence to make my first investment.

How did you find this deal and how did you negotiate it?

On the market short-sale. Made 3 offers to bank. Third time it was accepted.

Lessons learned? Challenges?

I recently had obtained my real estate license. A buyer cannot profit as an agent off a short-sale transaction since it is Arms Length. The bank used my 2.5% commission towards the debt owed.

@Alex Yi I agree. My fiance owns a home in Woodside and the train line delays there are so unpredictable at times. 

Curious to see how this plays out. 

@Mike Parelli You took me back down memory lane with this one.  Crazy how far biggerpockets has grown since then.

Yes, there has been quite a bit of progress in this niche market. I didn't end up buying the house mentioned in the post but I bought one even better that was a 4BR 2.5BA all brick cape for 152k.

I currently own 4 homes and I sublease a home from an owner making it 5 properties that I am cash flowing off of at the moment in that area. The net is around 100k.

There has been quite a bit of investors jumping in over the years, many of them my clients. You aren't getting the deals I got back in 2011-2013 but there is still great cash flow to be made with these student rentals.

Looks like your into Stamford real estate sales like myself.  We should network sometime.

Post is a bit confusing.

Can you be a bit more clear with specifics of the deal.

Would love to give my thoughts once I understand more.

Best,

Aaron

Haven't been on here in a while.

Thanks Adrian!

Wouldn't be able to sell it for anything significant after renovations. Maybe 70k.

They were once sold in the $150-180k range.

Main reason for purchase was to find a cash investment with a high return for the long run. The rental market their is strong and I anticipate will stay strong for a very long time.