All Forum Posts by: Carey Lilly

I used an attorney because my day job doesn't have a lot of flexibility for me to be making multiple runs to the courthouse to file papers. Plus, I initially started the process myself and the marshal I hired to serve the tenant sat over there with her for half an hour and explained all the ways she could stall the process (thanks, thin duplex walls). So I hired Yona Gregory in New London. It took two months. It's not cheap, but it cost less than 1 months rent to get her out. 

@Jaclyn P. Cool. Thanks Jaclyn.

Count me in. I've asked my friend to come as well. Looking forward to it!

Well, take it from this newbie, inherited tenants are not always a benefit. I will be much more cautious in the future.

Hi Sherri, SE CT reporting in. I'm a newbie house hacker, but I'm learning fast. I'm planning on teaming up with my friend who has a handyman business in the New London area to do some flips or BRRRR in the near future. I'm open to networking.

@Account Closed

Hi Tatiana, I'm a newbie investor in the New London area. I just closed on my first 2-family home this week (not actually in New London), but I did look at a lot of properties in New London. It is a very small city. There are pockets of less desirable areas, and the next block is perfectly nice and the homes are in good repair. Generally, the area south of Bank St. is going to be a little more high value (values go up the farther south of Bank St. you go). 

Unfortunately, the New London area has had a lot of economic setbacks because the area was very dependent on jobs at Electric Boat. Profit margins are tighter, and non-resident owners seem to neglect their properties somewhat, so even turnkey homes are going to need some work. Foreclosed properties will probably be even more neglected. 

All that being said, I still think there's value in the New London area, and it seems to be somewhat recovering from the last few economic setbacks. I'm still learning about the area, and about REI in general, but P.M. me and I'll be happy to answer any questions I can.

If you use government financing (like FHA for first-time homebuyers), your mortgage servicer has the option to call in the loan when you transfer the deed. That's written into my loan agreement, anyway. Of course, if you're using another loan product that may not apply.

Hi Joe, fellow SECT investor here. Welcome to the site. I'm ALLLLLmost ready to close on my first owner-occupied 2-family. I'm pretty new to BP and REI. I've been pretty set on doing buy-and-hold, but I feel like there's a lot of flip possibilities in NL county. I look forward to any insights you have.

@William Conrad

Hi Will, nice to see another New London-area investor here, we seem to be few and far between. I'm pretty new to BP and REI, but I'm in the middle of my first duplex deal in NL County. Hope to hear more from you.

Thanks for the welcome everyone. I'm definitely learning, and trying to plow thru the podcasts. I'm finding that experience is the best teacher, though.