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All Forum Posts by: Craig Bellot

Craig Bellot has started 7 posts and replied 661 times.

Post: Mark Altin from San Jose, CA

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

Hi @Mark Altin!

Great learning about the ins and outs of investing and managing property. It's amazing to get up close to the action of closing and making deals.

I love that real estate is so multi faceted. The economics, financial, social and mechanical and legal make it fascinating to me.

Good luck on your deal and let me know if there's any way I can help!

-Craig

347 575 8132

Post: College Student New to Real Estate

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

Hey @Orlando Rodrigues, 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.

Post: Newbie from Fairfield County, Connecticut

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

Welcome to the community, @Anthony Villalon!

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.

- Craig

Post: Househacking in East Rutherford/Carlstadt Advice

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

Hey @Chow Ahmed,

Thanks for sharing these insights. On top of what you laid out, as an investor I recommend that you know your numbers, cold. 

Whether you hire out everything or are more involved, plan from the beginning to be able to step away from the business if you need to.

That requires careful analysis of the property BEFORE you buy, to determine if it meets your financial goals AFTER including all expenses.

If any turn key company sends you a cashflow analysis without at least TIMMUR:
1. Taxes 
2. Insurance 
3. Management 
4. Maintenance 
5. Utilities 
5. Repairs

Then run for the hills.

In Bridgeport, Connecticut and many North East regions we also include Snow Removal and Pest control.

Explore all markets but do your research, as to where net migration and jobs are heading.

@Danial Qureshi this might help you too!

Drop me a message if you want to discussed further. 


Craig

Post: A bit more than expected

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

This is very well put @Ben Mell! I'm sure the newbies in our community will appreciate it.

If I may add, as a new investor I recommend to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport CT. For your next deals, bear in mind that 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.

Thanks and best of luck for future deals!

Craig


Post: First Time Conneticut Rental Property

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

Hey @Nicholas Ritieni, welcome to the community!

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.

Post: Rental Property in Connecticut

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

Hi there @Reinaldo I Ortiz

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: Closing Attorney Recommendations in Connecticut

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

Hi @Samer Karar

Welcome to the community!

On top of your due diligence, 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: Should I create a custom website if I'm using Prop Mgmt software

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

Congratulations on your first property deal, @Ron Skoletsky!

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: CT Laws on Rentals and Climate

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

@Brian Purdy if you have an address you are interested in looking at furthur for Bridgeport rental properties, put it into the Trulia.com search and go to the crime maps section.  There you can see if the area is high crime or not.

I don't invest in the areas with medium or high crime numbers.