All Forum Posts by: Craig Bellot

Hi @Gabriel Isaac Hazout Bridgeport Connecticut prices are quickly rising, but you can still find deals, you just have to be creative. 

Drive around the town and look for for sale by owners, dilapidated properties and overgrown yards. These are signs of neglected properties.

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 CT. Connecticut in general is in a sellers market. You will need to be creative in negotiating to get the price / terms you need.

You can use the Bigger Pockets calculators to start. Right now rents are strong, you can get $800 for a 1 bed, $1100 for 2 bed, and up to $1300 for a 3 bedroom. 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 by contacting the listing agent.

Let me know if you have any questions.

@Jared Maches Bridgeport, East Windsor, North Haven, Bristol, New Britain seem to have strong demand. 

@Jared Maches I would invest in the lower crime rate large towns to get the best selection of residents. 

Although crime on a whole is trending down in Connecticut for your first investment I would stay away from the top 3, Hartford, Waterbury, New Haven, and focus on the lower crime rate towns until you get some Connecticut property management experience under your belt. 

@Byran Hyatt  

Here at Idoni Property Management we expect roughly 30% of our tenants to default in April due to COVID-19 furloughs, layoffs, etc.

We are pointing them to resources on emergency unemployment, stimulus checks and SBA loans.

Just like they have to buy food, they still need to pay rent. We will waive late fees and have them sign a payment arrangement document.

We are guiding our Connecticut owners to check with their bank for available forbearance options.

Here is some more information: 

https://ctlawhelp.org/en/coronavirus

Good luck to you.

@Yvonne Willis here at Idoni Property Management we expect roughly 30% of our tenants to default in April due to COVID-19 furloughs, layoffs, etc. 

We are pointing them to resources on emergency unemployment, stimulus checks and SBA loans.  

Just like they have to buy food, they still need to pay rent.  We will waive late fees and have them sign a payment arrangement document.

We are guiding our Connecticut owners to check with their bank for available forbearance options.

Good luck to you.

I would stay away from Waterbury and look in Bristol, New Britain, Danbury, Hartford or Bridgeport instead.

@Frederic Mileo The eviction laws are friendlier to owners than NY for sure.

We can have a tenant out within 30 days for non-payment of rent. 

While there are bills that are trying to be passed to increase the responsibility of owners, they are currently decent to investors.

Hi Raul, what exactly do you need done? I’m a web developer by trade also in the Real Estate industry.  

@Can Sarlayan I sent you a message. 

@David Algarin you need to screen them the same way you screen all other tenants except for income.  Look for any criminal convictions, prior evictions and poor credit.

Meet them, look at their car, how portray their ability to care for the property and that will give you a good indication of their suitability as a tenant.