All Forum Posts by: Filipe Pereira

Good idea @Rick Santasiere. Just make sure they understand that it's a credit, and not an "early pay" discount, because (as I just learned somewhere else) that is illegal in CT. :)

@Victor N. Not quite. In Connecticut you can begin charing late fees 9 days after the rent is due. 

http://www.nolo.com/legal-encyclopedia/connecticut-late-fees-termination-nonpayment-rent-other-rent-rules.html

good luck Aquila...seriously, good luck. This is a horror story in my book. Sorry I can't be of more help. 

looks like CHFA loans are only good for primary residences, and require owner occupied for multi fams. 

http://www.chfa.org/Homeownership/for%20Homebuyers/FrequentlyAskedQuestions.aspx

great info and lots to chew there @artem. I am only at the beginning phases of the financing side. I haven't done too much research on the matter. Yes, I am considering an owner occupied situation for the lower rate. Like you said I need to compare the difference in savings vs potential rental revenue from that unit. If it's only a year, or less,  it probably makes sense to do the owner occupied. Thanks!

nice, I'll be looking to join once I am home for the summer!

thanks Phelim. Having a partner goes a long way. 

phelim, do you and your partner manage the 9 units yourselves?

@Phelim Lennon Sure thing! always looking to meet more locals. My best friend lives in WeHa, so I find myself there often. Lets get in touch once I graduate.

Thanks, do appreciate it. I know the house has new hot water heaters and new multizone heat. I would imagine that the plumbing, for the most part, is original to how it was built. I know each unit has a 100Amp box, but beyond that, I am unaware of the condition of the wiring/electrical. I will find out more soon, once I pay a visit! The cash flow IS promising though.