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All Forum Posts by: Curran D Bishop

Curran D Bishop has started 14 posts and replied 44 times.

Post: Wallingford Monthly Real Estate Meet-up

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

I'm afraid I've had something come up and will have to miss out, but planning on next month.

Post: Wallingford Monthly Real Estate Meet-up

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

Really enjoyed it last month, planning to see you all then - thanks for organizing it @Chris Puglisi!

Post: Wallingford Monthly Meet-Up

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

Same here - great to meet you all, looking forward to next time

Post: Wallingford Monthly Meet-Up

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

Sounds good - I'm new to the area. I own a couple properties in the midwest and am looking to start investing locally. I plan to bring a friend from Wallingford.

Post: Realtor Etiquette when there's no deal for a while...

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

@Patrice Boenzi, I have not signed a buyer agency agreement with anyone. I am looking for housing for myself, but will also be looking for investments. 

When I was first looking at moving to the area my employer set me up to look around just to get to know the area with one agent but they just picked at random: I rode around with him and had one phone conversation maybe six months ago. 

I got a very high referral from a friend who is very connected to the area, and this is the agent I have corresponded most with (couple phone calls, 4-6 emails all within the last month or so). 

The third agent emailed me when I was looking at properties on my own online and in order to see a particular property I had to enter my email. She offered in her email to set up notifications by my search criteria so I clarified the search criteria and she asked if I had an agreement with anyone--so I thought I'd better get some education on the etiquette before going any further. 

At this point I think I'd like to work with the 2nd agent (the one my friend referred me to).

Post: Realtor Etiquette when there's no deal for a while...

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

I have a question about etiquette with realtors as well: I have not verbally committed to a realtor yet during our house search, but I have talked to two different realtors, and in trying to look at properties online a third began emailing me. If one of them brings me something I like I assume I'm free to go with that? I'm not trying to string anyone along, but I'm also just trying to get a good sense of what's in the market I'm moving to from afar.

Post: Looking for a lender in Milford, CT area

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10
Scott, thanks a bunch--in response to your questions:

Originally posted by @Scott Hollister:

-In another post, you said this will be your 2nd home. You will need 6 months reserves for your PITI (Principle, Interest, Taxes, Insurance)

I got into real estate investing by buying homes in markets that crashed so I couldn't sell when I had to relocate for work :), so I own two single family rentals; I'm moving to the area and planning on renting while looking for a home with detached apartment I can Airbnb. If I can't find that I'm wanting to buy a multifamily as an investment instead and just keep renting my residence.

-Depending on your current mortgage, you may need to go conventional and put 20% down. If you plan to purchase this as an investment with conventional financing, you may need 25% down. (There are other low money out of pocket options like Fannie may Homepath, 203k, FHA, etc.) I just don't know your situation to recommend what is best.

Thanks for the advice!

-Best advice is talk to a lender that is local, our local meetup is held in a mortgage office with @Kit Crowne. He may offer better guidance if your plan is to go conventional. 

@Kit Crowne, or Scott, when are the meetups? I'll be in the area to shop for rentals around 12/4-10 and would love to attend if it's happening in that window; I will move in late Dec/early Jan and will start attending the meetups regularly then--thanks for the connection! 

Post: Looking for a lender in Milford, CT area

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

@Sean Richway thank you!

Post: Looking for a lender in Milford, CT area

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

@Scott Hollister I'll be looking for a multi-family that may or may not be my residence, so nothing commercial. New to BP so getting my financing  terminology down... 

Post: Looking for a lender in Milford, CT area

Curran D Bishop
Pro Member
Posted
  • Investor
  • Milford, Connecticut (CT)
  • Posts 46
  • Votes 10

@Simmy Ahluwalia thank you!