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All Forum Posts by: Andres Bernal

Andres Bernal has started 28 posts and replied 90 times.

Post: BRRR In Connecticut

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

I have done maybe 25 BRRRR in CT. Brrrr is not dependent that much on the market but on how low you buy a properties. I have done successful brrrrrs All over CT. It's about how much of a discount you are buying, estimate as accurate as possible how much are he Renovations and knowing how much you can pull out once you have refinance, conservatively.

Altough I’ve said it’s depending on the buy and not the market, markets can definitely help to get more $$$ once you refinance.


My best advice I can give you is make sure that it’s cashflow once you refi with the current rates. 


Post: Need multi family home insurance quotes

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

@Krystian Kucharzyk call Louis Molnar from State Farm Best service ever +1 (203) 258-1355

Post: ARBNB in Punta Cana, Dominican Republic.

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25
Originally posted by @Mike Lambert:

@Andres Bernal

Let us know how you're doing. The Dominican Republic can be a great place to invest but, personally, Punta Cana would be the last place I'd invest in.

Two years ago, during a meeting I had at the Ministry of Tourism in Santo Domingo, one of the head honchos there clearly told me "If I were you, I wouldn't invest in Punta Cana". Now, he's responsible to bring tourism and investment into the country so why would he say that? Punta Cana accounts for 66% of the country's tourism. This is very unhealthy so the government is now investing elsewhere now and Punta Cana is pretty much done anyway, as the path of progress pretty much has run its course there.

That's not my main problem with Punta Cana though. Punta Cana is first and foremost an all-inclusive destination and there's no way an Airbnb can compete against those. There is nothing much to do in there apart from the beach and partying and therefore there's no drawbacks to be in an all-inclusive and no advantages to be in an Airbnb. Many people go there in (large) groups, which most short-term rentals can't accommodate. Finally, most people I've met in the country (and elsewhere) who love to stay in short-term rentals and dislike all-inclusive generally dislike Punta Cana.

Of course, it's another story if you buy (partly) for lifestyle purposes, as you might just be happy enjoying your property and covering your costs.

Thank you for the insight, I know a few friends making money there thru Airbnb and I was looking for more insights 


 I’m assuming you don’t own real estate?  in punta cana? Or have you owned and sold?

Post: ARBNB in Punta Cana, Dominican Republic.

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hey guys, 

Im buying a condo in Punta Cana in area nearby "EL Cortecito" 5 min walking from the beach. I have my whole portfolio in CT  and would like to expand markets. Im from Santo Domingo but I have lived in CT since 2012. This condo will also be used by my family and myself as well. 

Does anybody wants to share their experience owning a condo in PUNTA CANA, Dominican Republic and rent it out thru ARBNB , other short term rental platform or with a property manager?

Any tips on filling Vacancies, Arbnb experience, high or low rental season strategy? Any advice will be highly appreciated.

Post: First time investor needing advice - am I being shortsighted?

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hey man,

I would buy in new haven first then save the cash flow and with that cash flow, use an fha in DC whenever you move back. 

Nobody know what would happen in three years. What you know could be your best tool. Putting a 20% on a primary residence it’s not a good use when you can get loans for less than that.

Post: Investors from Wallingford Connecticut

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hey guys, 

Im an investor from the new haven county. I have a deal in Wallingford, Connecticut and I want some input/partner of an investor that owns property in Wallingford. If you are, please comment below.

Post: West Haven Market Trend

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hi Ashleigh, 

West Haven is hot right now. I own around 10 units in west haven along. Its hard to get a good deal and areas are slightly tricky. I rent to University of West Haven students as well. Let me know if you want to chat more about it

Post: Unbuildable lot, any ideas?

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

@James Mc Ree I apologize that I didn't specify. I applied for variance and it got denied. It was dumb to apply without my lawyer over there. He was just advising me but couldn't go to the meeting because he was so busy. West Haven is a city without too much land. The lot is .14 acres. 

Post: 2 Family overlooking the ocean Airbnb/rental mix

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hey Jason,

I own 10 units in west haven. Let me know if you want any input or info.

Have a great day! 

Post: Unbuildable lot, any ideas?

Andres Bernal
Pro Member
Posted
  • Orange CT
  • Posts 105
  • Votes 25

Hey guys

I just had a meeting with the zoning and planning here in west haven ct. they denied my application of having a vacant land permitted to build a small house. I needed a variance because the lot was too small. Even if my case was strong and the board admitted it they said NO WITHOUT ANY REASON AT ALL

Is there use for a not buildable vacant lot? It’s about 6000sq feet. And .14 acres.


Storage? farm? Any suggestions will be appreciate it!