All Forum Posts by: Dan Leyden

Unfortunately I have to agree with Minna. Why would an agent want to waste their time, to do all the leg work for someone who is just going to offer unrealistic prices in what is still a sellers market in most price ranges with a list to sale price ratio of over 95%. Properties are not sold 30-40% under asking right now especially if they can be investments. Take out the driving and taking photographs and doing your due diligence and you might find an agent that has enough free time to write offers that have no chance in being accepted. As Minna mentioned, find a new agent that is willing to get paid hourly and you might find someone. You get what you pay for, any seasoned and successful agent has clients that are qualified and realistic to focus on. Sounds like you should get your RE license. 

There are plenty of buyers currently looking for multifamily properties in CT. If I were listing your property I wouldn't be as concerned with the financing options that will end up costing you more in legal and recording fees than it would to update or price the property that's attractive to buyers. 

Also if you are looking to loan a downpayment there are financing restrictions. Offering to pay for closing costs would be the most attractive, but un needed usually. 

Hey Thomas,

I'd be happy to help you out with the agent side of the deal. I started out as an investor, quickly realizing how awful the agents I was using were and an now a full time agent. Let me know how I can help!

Dan

Chat with @Craig

@Craig Bellot

I also recommend 

@Craig Bellot, hope you can connect. 

Who currently owns the property? Even if it is bank owned there usually is a process to be able to de-winterize and re-winterize it. Even if you have to pay for that, it might be worth the piece of mind. 

@David Smith Bridgeport is one of the first affordable towns near NYC. Stamford and Norwalk has a lot less inventory for multifamily properties. Cap rates will be below 8%, usually 6-7% however the quality of tenants will typically be higher. Past Bridgeport it becomes a very long train ride to grand central, most buyers don't want to go past Bridgeport or maybe Stratford. 

Average Bridgeport prices have almost doubled in the last 3 years. I personally own and have sold clients properties in Bridgeport. The mil rate is higher than other towns around, however there is still a lot of opportunity for great investments with cap rates above 10%. 

A majority of the buyers are coming from NY, either owner occupied buyers that plan on renting out units or investors. The city is changing. I'd be happy to help you with any questions or with purchasing properties in CT.

Hi wholesalers, I've always wondered why you don't get your license? I understand its a commitment to sit in class for 60 hours and an extra cost, but is there another reason? Just curious to see what you think!  

Hey Michael Junior, I'd be happy to network. I'm also an investor and realtor, living in Stamford, own and invest in Bridgeport. Happy to chat!