All Forum Posts by: Oscar Rodriguez

@Dilman R.  First I would like to commend you on taking the leap.  That is the first and most important step.  Now that you have done it and have the courage to do it, back out of this deal.  This is not a good deal for an investor.  If you were going to buy this to live in it as your primary, it might make sense.  But to leave that kind of money in the deal, to make no cash flow, is a no go.  There are much better opportunities in CT you can get into with that kind of money.  Like others have said, you have left no accounting for the major things.  Hopefully you have some contingencies that can get you out of this purchase.  Feel free to PM me if you need any recommendations.  I invest in CT.  Good luck.

@Mike McCarthy Makes sense when you put it that way.  Thank you for that insight.

@Theresa Harris  I have considered that too.  Thank you for the input.

@Aaron Zimmerman Thanks for your feedback.  I do have the money to rehab now.  I was leaning towards your suggestion but I am not sure how motivated any of them will be to move.  I'll see soon though!  Thanks!

I am currently in contract for two duplexes.  They both have paying tenants on month to month leases.  The issue is that none of them have deposits.  What are some suggestions for handling this situation?  If anything at all.  I'm ok with the current rents as is.  As each tenant moves out, I will rehab and get more rent at that point.  Thanks for any input.

@Jay Zdunczyk Sorry, I just saw this!  But actually I am just finishing the last details on the 1st floor.  I got the all three floors completely rehabbed.  Started at the top and worked down.  Third floor is rented @700$, it's a 1BR with an office.  Now I'm turning it over to the PM to get the 1st and 2nd rented.  Both are 2BR/1Ba.  Probably around 900-950$ for those.  I took a little longer on this to get it right.  New roof, water heaters, electrical, plumbing and all new interiors.  I wanted to handle as much cap ex now and hopefully not deal with any major issues in the near future.  It is actually crazy how much the properties have appreciated in the area in just the 9 months!  Thanks for checking in!

@Scott Hollister is your man.  He hosts a meet up there in CT and he is an excellent real estate agent.  I used him and I'm out of state.  No issues and my deal went through smooth.

@Chris McCarthy Thanks!  Good luck, looking forward to reading about it!

@Michael Noto Thanks!  

@Ryan Deasy PM sent, Thanks!!

@Dan Neubelt Thanks!  I was specifically searching for a buy and hold investment.  There are deals in the area, but for me, an OOS investor, I had to be real picky.  If I was in the area like you, there are many options.  A house hack is a great way to get in, and you'll get more favorable numbers with your mortgage and home insurance.  If you are willing to put in some work, there are deals that need rehab in your area.  I would get in touch with my agent out there, @Scott Hollister.  He can help you out.

Well I finally pulled the trigger and put a multi under contract in the New Britain area.  First I have to thank Scott Hollister for his guidance through this process.  I highly recommend Scott for anyone in the greater Hartford area looking for an investor friendly agent.  

I am in escrow right now and starting to put together a list of area contractors that you all trust.  I would love some contractors in the following:

Plumbing

HVAC

Flooring

Paint

Electrician

Roofers

Also, I have an agent and attorney already.  But who do you all use for property management and landlord insurance?  

I will update my progress through this deal and hopefully it is the first of many more!

Thanks in advance.