All Forum Posts by: Daniel Raposo

Hey Cortez White welcome to BP! This is definitely a great place to start learning and meeting other local investors. Start listening to the podcasts if you haven't already and picking through the blogs and forum. Have you looked into getting your license? You're 18 so you could get started right away if you wanted. Let me know if you're thinking about it, I would be more than happy to walk you through the first steps and such. Dan

Hey Danny Ginsburg Welcome to BP, it really is the best place online to find information about real estate investing. If you're looking to meet some local investors there is a great meet up in Fairfield every month which happens to be Wednesday night this week. Jonathan Makovsky organizes it and regularly posts the meet up information if you want more details. Good luck!

I've seen this deal shopped to other investors on this site, which makes me a little suspect as to its strength. If the developer is as experienced as he seems I'm surprised he wasn't able to raise this through other relationships and is shopping it this much. 

Here is a link to another post I made earlier this morning about what I believe is the same deal. My advice to that potential investor is the same to you.

https://www.biggerpockets.com/forums/44/topics/331...

Good luck!

Dan

Hi @Chiachi Lee

Welcome to BP, it is the best resource for learning about real estate investing!

Your first goal shouldn't be to find out what kind of investing you want to do, but what your financial goals are? Are you looking for side income, passive income to replace your 9-5, long term wealth, etc. Figuring out these goals will help determine what kind of investing you should be doing. 

Dan

The biggest concern is that if you structure the deal properly you will be paid before he does, however you would still be behind the lien holding lenders. If you pursue the deal you should find out who is really coming in with the other 1 million (I'm guessing there are probably other equity partners) and that the developer actually has his own money in the deal. This will help align his interests with yours and the other equity partners. You should also look into this developers experience performing these types of deals, from start to finish. Your biggest risk is losing your money to an incomplete deal. Being that you are taking the biggest risk out of the group, you should be rewarded greatly for this risk, I would say in the 20%+ range. Good luck!

First, what part of it are you afraid?

Hi @Rich Sutherland

You should absolutely use an agent that specializes in short sales, or at least has a good deal of experience with them. They would be able to answer all these questions for you, since a lot of the answers will be specific to the property you are considering. When meeting with new agents make sure to ask them about their experience, number of closed short sales, etc. 

Good luck!

Seems average to me, nothing terribly unusual there.

Again, not endorsing this site, have no relationship with the site, and not an attorney but found this just by doing a quick Google search. 

http://ctlawhelp.org/energy-utility-problems-landl...

I thought sub metering was illegal in CT but evidently it was just recently approved for commercial and multi family properties if you get approval for it. 

Don't quote me on this, maybe one of the CT attorneys can chime in, but I believe in CT landlords are only legally allowed to charge tenants for utilities or have them pay separate from rent if they are separately metered. If they're not separately metered they must be included in the rent.