All Forum Posts by: Daniel Gugliotti

Does anyone have any suggestions for mail marketing sites/services? I tried Invelo, I am just not impressed with the complexity of the "marketing" functionality. I don't always find a property I am interested in through Invelo, but it seems if I want to market to a specific owner, I need to first find the property on Invelo. Any suggestions?

Quote from @Edy Lagares:

Thanks @John Wijtenburg , I've been trying to find a partner but what you said makes a lot of sense

Hi - five years later, I’m curious how this worked out for you? Where you were back then is where I am now. Did you find a partner? If so, how/where? Did you end up leveraging a credibility packet to get there? Good luck!

I have a potentially unique, but low barrier entry opportunity in front of me, but I am struggling to put the pieces together in a way the make sense for all. 

I live in CT and I have relatives who would like to "snow bird" to Florida at some point soon. They have a house with an in-law apartment (essentially a 2-unit MFH) that needs some work. The house also happens to be right next door to a wedding hall. Seems ripe for the picking to BRRR the home. Ideally, I would STR it to either the wedding hall or seasonally, although the purpose of snow-birding is to be in CT in the summers (wedding season) and Florida for the winters. The less risky/more logical avenue seems to be to LTR one unit for more predictable cash flow and STR the other unit to create availability for my relatives when they come to visit. It's worth noting on the STR side, CT is not exactly the AirBnB capital of the world.

But my struggle is finding/pitching the value add to them? They would need cash to buy/rent seasonally in Florida, so is there a scenario where they sell the house to me, obtaining the cash they need to buy in Florida, and then rent one of the units back from me in the summers? Is that taking on too much risk? Will a bank see the same value that I do and be willing l do a DSCR loan based on LTR and STR on the same property?

Any ideas, feedback or suggestions are welcome! Fire away!

This thread is super helpful, thanks Shaydon for asking the question! I am in a similar scenario, but I also do not have a current home to sell. I am looking to so a rehab loan (which I have heard also be called a bridge loan). I was under the impression the bridge loan could be your down payment until you can close on the DSCR/conventional mortgage and then the cash refi makes the lender whole on the bridge loan. But it sounds like with the rehab loan, I am still coming up with 25-ish% as DP for this loan, correct? Thanks all!

Thanks, Jonathan! My confusion is that some advice says to work directly with the borrower’s attorney while other advice says to go straight to the borrower with inquiry/offer. 

Has anyone gone through the process buying a pre-foreclosure property in CT? Looking for laws and best practices around it but I am seeing conflicting things. Any insight would be appreciated!

Thanks for all the replies! This is all helpful. For what I am looking to do, a partner seems like the way to go (for my first buy). It doesn’t sound like there are overwhelming cons to doing it. 

I am considering investing in my first property and have thought about partnering with a friend. What are the pros and cons of investing (especially starting off) with a partner?
I would likely using a private money loan and my buy box criteria includes:

Multi-family

Long term rental

In or around a college town

Okay with some rehab, but don’t want a full gut project

Thanks! Registration required?

Does anyone know of any REI meet ups coming up in CT?