All Forum Posts by: Craig Bellot

Hi @Darrell Jones any reason business wise for leaving Hartford?

Will do.  Thanks @Connor Nolan !

Welcome @Connor Nolan What has been your experience in the Fairfield county?  Do you find more off market deals than on?

@Drew Vukov I'm seeing older triplexes at 130k - 150k renting for $900 per 2bed unit. 

You should be able to pull 25-30% cash on cash just from MLS deals. Probably more if you build up a network of local friends.

I will be attending!

Hi Yliana, I live in NYC and invest in Bridgeport, CT where the numbers make more sense.

I've been doing buy and holds in Bridgeport for about 5 years and you can start small and grow from there.  There is high rental demand in Bridgeport as the largest city in Connecticut and its only 50 min from NYC.  The rents are solid as well.

Your experience in evictions and collections will come in very handy when it comes to tenant screening if you get into buy and holds.

I haven't done any flips there yet but I know others who have.

I've heard that accepting partial payments while a tenant is being evicted can cause the judge to throw out the case. What happens when you accept direct deposit? Can a tenant put $10 into your account during an eviction and stop your case?

Any multifamily conventionally financed right now will need 25% down using Freddie/Fannie requirements.

I use Patrick Elderege from William Ravies and he's found me some good multi-families in Bridgeport.  

Just be specific on your goals and you will get what you are looking for.

Good luck. I personally think the market is heading towards a downturn in the next 2 years so be careful.  Always make sure the numbers are analyzed carefully!

For the Bridgeport area use the 2% rule in acquisition and you will be fine.  Screen your tenants well and you will be a happy investor.   Even C-class properties can rent for $900-1000 for a 2 bedroom.