All Forum Posts by: Craig Bellot

Kevin how much cashflow per month are you making on a ~1% property in Connecticut?

Takes about 30 days to get a tenant out with or without lease.  

Judges are a bit nit picky on service dates and methods so just make sure you follow the eviction process to the letter.  

Rents are high and collecting a month or more upfront is sufficient for any problems that may occur.  

If the property is in Connecticut that cashflow would be too low for my standards.

There are 2% properties you can find in Connecticut.  At this income level, no more than 150k in my mind.

I can find 2% properties in Bridgeport, CT all day.

Thanks Judd.  Let me know if you have any questions.  

Welcome @Judd Fertman !  

Keep doing your investing on the side until you can replace your full time income.

Keep reading and learning to build your confidence and take action despite any fears you may have.

Good luck.

Great to meet you @Rebecca Peters   Nothing beats experience in this game!

This would definetly work as a buy and hold.  It meets the 2% rule which is the minimum rent to value I would accept in Connecticut due to our high property taxes.  

I don't see enough margin there for a flip taking holding costs into account. 

What would the property rent for?

In Bridgeport, CT we charge $50 late fee after the 10th and $10 per week thereafter.  No exceptions.