All Forum Posts by: Craig Chrzanowski

Yesterday I learned why many seek to find the off market deals. I looked at a duplex and made an appointment yo see it and while I was there two other people showed up. One of them stayed to see the property as well. He brought his infant into the abandoned, and very dirty unit in a carrier.

I was only able to see one side as the other was occupied and had not been able to be notified. I thought I was ahead of the game. Today just one day later I'm told there are multiple cash offers above asking price. I just wanted a humble beginning to my real estate empire. I wanted to house hack that small duplex but I got pushed right out even though I was prepared to offer slightly above asking price and had solid financing in place and ready to go. The supply of houses not in very rough neighborhoods is low right now. Maybe it gets better in spring or maybe working with on market properties in the 2-4 family residential world isn't realistic in Connecticut, I'm not sure.At the moment. I'm reassessing my approach and thinking long and hard about direct mail and lists.

@Krista Manna I'm guessing you are around Boston? If so that's probably why. I'd still go a bit at a time personally.

@Krista Manna I'm new but I think that might be a bit much. If you have that many options why not pair it down a little further and be more precise?

Will you send all 8k letters or call them? More likely you will send or call to a portion... Answer what calls come in.... Then send another batch, wash rinse and repeat. What happens if you get 200 plus responses? Can you handle those in a week?

I personally would send a portion.... Follow up... Send a portion.... Follow up. Otherwise that feels wasted leads and tied up money. I know in my chosen market with absentee multi family owners having 60% equity I had over 500 contacts. Cost was going to be a little over $120. Your market could of course vary.

Also for what it's worth I found their website took some time to get used to as well.

@Mindy Jensen. If that front door has a glass "storm door" and gets significant sun I've experienced doors delaminating and trim around smaller view windows within the door warping. Temps can get very hot in the space between doors. I can't see much of the picture... Is it possible the heat is rising so to speak?

If you think it might be the case there are companies that can apply reflective film to minimize the penetration of the sun/heat

@Mindy Jensen

It is my understanding that in some states buying materials for the worksite can allow you to be looked at as an employer rather than a property owner. Typically this would only matter if someone got hurt on the job site and they tried to recover damages from you. I'm not a lawyer but I know this has happened in Connecticut. I'd say double check with a lawyer in your area about the possible liability.

Hello all, I'm new to the investment scene but I have a background in sales, business ownership, home improvements, and networking. This will be my first meet up fromantic this site and I'm anxious to meet and mingle with like minded people.

@Kwame Darko Thanks for the tip. I'll reach out to him.

Craig 

I'm new and interested in buy and hold multi family houses. I'm looking to meet with folks locally.

Does anyone know of local meetup groups? (Other than CTREIA which I already attend). 

This is old but I'm guessing the zoning of that area may have changed. At lease here in CT some areas are not allowed to be multi family or mixed use commercial. That being said in most cases if a building was already that way and was legally recognized by the town prior as a multi-family in most cases I would expect it to be grandfathered in as they say. In any case I'd consult a local attorney but really why fight the town. Move on to easier pickings. God luck.