All Forum Posts by: Dawn McNary

@Jeremy Hauben 

So glad to meet you- just read through some of the welcomes- looks like you are in my area as well!!  SECT - I am in East Haddam- work out of Niantic office and as a recent 'returning native' to CT (from 20 years in TX) I am trying to build up a network of reliable folks that can get my clients what they need done- drop me a line and let me know more about what you do/can do for my folks needing a builder...Seems I am seeing more and more folks putting their LOTS up for listing which means more and more buyers need a builder!  Good news for all!!  (the market is NOT TX but it is finally moving in the right direction!!)

Recently been noticing investors buying LOTS and putting modular onsite for a buy/hold strategy that seems to make sense- long term.  Have any of you done this and seeing I have been running into quite a few folks thinking of listing lots- wonder if I can find a big enough market of folks who want to go this way....(last one put up a modular Duplex/2 rental units- very very nicely done- pretty amazing property- he is all buy/hold)-

Looking for feedback/discussion- does not have to be CT could be anywhere- CT is just where I happen to be and am noticing this trend...  Was not sure WHICH Forum to place this in so @Joshua Dorkin 

if I chose the wrong one- feel free to change accordingly (just let me know where it is so I can follow up!)  thanks!

@Joshua Dow  I just saw above someone recommended FRED as well- in West HArtford- he too is wonderful- so if you can land him as an instructor you will not go wrong! 

There is also a class in Niantic- which is East of Hartford- just on the shore- Academy of Professional Education- you can reach out to Heather for more info on this particular school 860-739-4455 ext 44- She is great with folks!!!  Good Luck!

Randy...went through this on personal home. The docs were all in wrong city but what saved the deal was LEGAL DESCRIPTION was valid. So check that and if it is valid AND you want the deal it can be rectified. If the LEGAL is also wrong then you have an issue and it is not a title issue this is a clerical issue and not easy to fix... Mine was 18months of certified letters and unrealistic demands (they wanted me to repurchase the home)... But if all you want is a discount then it probably won't happen. They will simply fix the issue and move on..with your EM let me know how it works out... Sad, but glad, to know it did not only happen to me!

Loo for lenders that have products for investors that mimic FHA 203K.. I am finding them here in CT so they must be in other areas as well- same basic terms- but none of the owner occupied

Hey @Jim Lally

I just sent you a colleague request with some of my info I am relocating back this way and am just getting settled Im from Lyme but am now up in East Haddam but working as Realtor with Heritage in Niantic - Ive talked with @Raymond B. and he is great Hi to @Karin Crompton as well! Would love to know more about REIA in the area..so good to see more and more CT folks on here!

John Chapman Not to be smarmy, but in my opinion, I don't know how it's even a question about where to invest, CT or TX. Setting aside all of the economic and tax reasons for why TX is better, there is the very practical reason that Texas is far more landlord friendly than CT. This may not seem like much of a consideration until you've got a nonpaying, destructive tenant who does not want to leave. I promise you that you will find "Texas justice" far more comforting

Not taken in a bad way at all- I agree with you a hundred percent! however, there are 'people' who are speaking to my spouse saying - oh investing 'far from your residence' is too hard, too difficult, too...whatever. I do not agree- so my FIRST SALES pitch is to my spouse- I really want his buy in on what I see and what I envision for my 15-20 year plan. I've won the forst 3 battles....so I am optimistic- but as I am sure you, and others know, there are always negative nancy's out there who do not like risk and outside the box thinking and just cannot wrap their head around doing something 'different'.

Sooooo- YES _ I am a total TX fan- for investment (and for living) ....and as far as I can tell TX is still part of the USofA- so for now investing is across state lines only (not country lines) LOL (yes that was attempt at humor)-

Starting off in RE - which I like- working with buyers and moreso Sellers- but I am discovering, and it is a discovery process, but I am finding that growing my future cash flow is something I want for us...but I am 'curious' about the CT market- there are people making money up there- just different money- [they are always blown away when you tell them TX figures- shocked blown away if they have never invested out of state] ..hmmmm maybe I should keep it my little secret! Have a productive day and look forward to the advice and words of caution/or lessons learned- hard way- feel free to share..I'd much rather learn by YOUR mistake! :-)

This was an old post, but in light of the activity in Granbury and North Texas last night...and being so new...how does landlord insurance work? Have any of you ever had to use it? For things like tornado damage..or heaven forbid..have you ever completely lost your entire property(and hopefully tenants were ok).... Were u able to rebuild? Sell lot? Were u able to rehouse tenants or were they on their own? Any other questions to think of when investing in tornado, hurricane, mudslide, monsoon, flood areas...(ya know? Everywhere!)....

Ray....you have stated ALL the very reasons I left over 20 years ago! Seems something's never change(for the better). Family, aging, is pulling me back...not the economy. I'm always fascinated when I see CT ads here in Texas...trying to get businesses to relocate to the great state of CT?! (Have to admit that takes balls...) there is so much to love about doing business in Texas....and yet there is such beauty and history living in CT.....

But that is why I do believe I will do more investment biz in TX than in CT, however...I do know quite a few folks who have done well in CT..both residential and commercial....lots to think about..and relearn...the land Foxwoods sits on...was my playground as a kid...growing up on the farm that once sat there....things have changed...sorry to hear layoffs are part of that life!

If you leave, where would you go? An income tax free state I hope! We have that in TX and it is WONDERFUL!!

Originally posted by Raymond B.:

Dawn McNary,
Here is a link to an article concerning the Financial Problems, that the Casinos in Ct., are having:

The Tribe that owns Foxwoods Resort Casino turns to federal grants for financial aid:

http://www.nhregister.com/articles/2013/03/24/news/doc514f26c881302560093279.txt

Last August the Tribe reaches a deal to restructure Foxwoods debt.
Here is a link to that article:

http://www.hartfordbusiness.com/article/20120803/NEWS01/120809905/tribe-reaches-deal-to-restructure-foxwoods-debt

I know that a lot of the Workers at the Casinos have been laid off.
Before the recession, that was unheard of.
Many of those workers have left the State, and found Jobs at other Casinos in Pa.,
Florida, etc.

The population in Ct., has been declining for the last decade, if not longer.
People are fed up with the constantly rising costs to live in the State of Connecticut.
We have a State Income Tax.
Between the Federal Government and the State of Ct., the tax on gas per gallon is 70.3 cents.
That is the highest in the 50 States.
Here is a link concerning that:

http://www.bankrate.com/finance/taxes/states-with-highest-gasoline-excise-taxes-2.aspx

I'm a Senior Citizen, and I'm seriously considering leaving the State of Connecticut.

Raymond