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All Forum Posts by: Craig Bellot

Craig Bellot has started 7 posts and replied 661 times.

Post: New Investor looking to learn & network with people in Stamford

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hey @Sandy Pathak the first steps I would recommend as a new investor is to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport.

You can use the Bigger Pockets calculators to start. Use Zillow and rentometer.com to get data and analyze a few from your home to see what type if returns there are.

If these meet your investment criteria then start looking in person.

Let me know if you have any questions.

-Craig

Post: Building a website for STR properties

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hi @Bruce Woodruff

As an agent you will need to begin building your identity as a trusted advisor in home sales and purchases. I would begin with a Facebook page. 

With social media, or any other type of marketing you need to understand VRIN scores: V stands for value. R stands for rarity or how rare it is. I stands for inimitable and N stands for non-substitutable. 

Value means you are giving your followers what they are interested in. Your posts need to be reaching your audience's values. I know my audience values growing their wealth safely, so I create content that shows how we do that. People value the payoff of real estate and investing, so I post my numbers, analysis and all the great tips that my businesses have profited from. 

Rarity is how many other accounts are out there posting similar content. The more content that you provide that not many people get to see, the more excited people will be when they see it. It’s common sense. Rarity is the amount of emotion that people get when they see your post. 

Inimitable means your post is hard to recreate. It means that not only is it rare, it’s unique and genuine. People can tell when what you’re posting is trying to be like someone else. You have to be unique, so others can’t reproduce what you’ve created. 

Non-substitutable is similar to rarity, but it also means that what your posting is relatively impossible to be replaced by something new. You need to create timeless content, so as time goes on, your post is still relevant. 

If you master these, your business will grow and you will create a loyal audience, because you understand why your audience follows you and engages with you. 

Let me know if you have any questions!

-Craig

Post: Newbie multifamily in NY or CT

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hi @Jezelle John

There are tons of deals on the MLS in Connecticut where we invest.

I believe the key is to act quickly, know your numbers and your buying criteria .

If you know you want single families with 3 bed 2 bath, set up an alert for that and get your paperwork ready to offer once you find one that matches.

-Craig

Post: New Britain or Waterbury Connecticut

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hi @Fahim Shakie, There are tons of deals on the MLS in Connecticut where we invest.

I believe the key is to act quickly, know your numbers and your buying criteria .

If you know you want single families with 3 bed 2 bath, set up an alert for that and get your paperwork ready to offer once you find one that matches.

Post: New member introduction and networking/ looking for mentor!

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hi @Jacob DiScuillo, Welcome to the community! Congratulations to your real estate journey too! 

The first steps I would recommend as a new investor is to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport.

You can use the Bigger Pockets calculators to start. Use Zillow and rentometer.com to get data and analyze a few from your home to see what type if returns there are.

If these meet your investment criteria then start looking in person.

Let me know if you have any questions.


-Craig

Post: CT Standard Property Management Fee

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

@Gervon Thompson sure. Send me the details on the property. 

Post: CT Standard Property Management Fee

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

In Bridgeport, Hartford, Waterbury, New Haven CT the rate is about 10% of rents collected. This frees you up from taking resident phone calls, coordinating maintenance, leasing vacancies, accounting P&L's, conducting inspections and making property payments to focus on higher leverage activities.

You shouldn't get charged for vacant units, service charges on maintenance items, no lease renewal fees, no startup fees nor cancellation fees. You don't want the company to be incentivized to turn units, over-repair or exaggerate repairs. 

There should be no long term contracts, and you should be able to cancel anytime you are not satisfied. You want to align the property management company's financial interests with yours. 

The company should be a partner with the real estate investor and not just another service provider.

The only two fees usually charged are the 10% monthly management fee, and 1 month lease up fee.  The lease up fee should be guaranteed for 12 months. If a tenant placed stops paying after 6 months of a 12 month lease, you should only be charged half of the lease up fee next tenant placed.

The more units you bring a company they can usually negotiate that rate a bit.  That pricing includes:

  • - Move-in & Move-out inspections
  • - Weekly Inspections
  • - Rent Collection and follow up
  • - Weekly Statements
  • - 24/7 Emergency Call Line
  • - Unlimited Maintenance Coordination
  • - Annual Inspections
  • - Lease enforcement

Let me know if you have any additional questions @Alyson Augenstein

Post: Best market for beginner searching for cash flow?

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Welcome to the community, @Arthur Sorochkin!

There are tons of deals on the MLS in Connecticut where we invest.

I believe the key is to act quickly, know your numbers and your buying criteria .

If you know you want single families with 3 bed 2 bath, set up an alert for that and get your paperwork ready to offer once you find one that matches.

-Craig

Post: Looking to create a website

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hey @Marv Edelstein, as an agent you will need to begin building your identity as a trusted advisor in home sales and purchases. I would begin with a Facebook page. 

With social media, or any other type of marketing you need to understand VRIN scores: V stands for value. R stands for rarity or how rare it is. I stands for inimitable and N stands for non-substitutable. Value means you are giving your followers what they are interested in. Your posts need to be reaching your audience's values. I know my audience values growing their wealth safely, so I create content that shows how we do that. People value the payoff of real estate and investing, so I post my numbers, analysis and all the great tips that my businesses have profited from. Rarity is how many other accounts are out there posting similar content. The more content that you provide that not many people get to see, the more excited people will be when they see it. It’s common sense. Rarity is the amount of emotion that people get when they see your post. Inimitable means your post is hard to recreate. It means that not only is it rare, it’s unique and genuine. 

People can tell when what you’re posting is trying to be like someone else. You have to be unique, so others can’t reproduce what you’ve created. Non-substitutable is similar to rarity, but it also means that what your posting is relatively impossible to be replaced by something new. You need to create timeless content, so as time goes on, your post is still relevant. 

If you master these, your business will grow and you will create a loyal audience, because you understand why your audience follows you and engages with you. 

Let me know if you have any questions!

Post: New Investor blue printing first deal! Need all the help!

Craig BellotPosted
  • Property Manager
  • Connecticut
  • Posts 687
  • Votes 329

Hi @Jonathan Abrado, Congratulations on your real estate journey!  

After finding solutions for your financing... the next steps I would recommend as a new investor is to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport.

You can use the Bigger Pockets calculators to start. Use Zillow and rentometer.com to get data and analyze a few from your home to see what type if returns there are.

If these meet your investment criteria then start looking in person.

Let me know if you have any questions.

- Craig