All Forum Posts by: Filipe Pereira

Hey @Ashley Crowley - I'm a property manager in CT, and this is in the top 2 calls we get i'd say. "How do I know if we need a PM or not?"

It's going to depend on how many units you have, how much $ you value your time at, how much time you have, how much $ you have and how many calls per month you are experiencing. 

The answer to your question is tied somewhere into the answer to these questions. 

Best of luck :)

The protections you will get as a landlord are afforded by the state you are doing business in, not the state where you are LLC'd in. If you got to court in CT a judge isn't going to care that your LLC is established in Nevada, they are going to follow and rule based on Connecticut law @Seth Bronko. 

More often than not, the idea of setting up a LLC in a different state is more headache than it is worth (just my opinion).

Hey @Rob Falcigno, there's a very active wholesaling group on facebook called "Wholesaling Houses In Connecticut". There's some good ones in there, but there's also a lot of bad ones that you will just ave to sift through unfortunately. Garey Allen in Windsor comes to mind as a good one. 860-221-8973. Justin Sudol is another one that comes to mind, but I don't have his number. 

Good luck! A lot of riffraff to go through out there. 

Hey @Justin Brown, welcome to bigger-pockets! I am also a property manager in CT. If you ever want to talk shop or chat about a tenant situation or real estate question, don't hesitate to reach out. 

Hey @Brandon Kaplan, welcome to BP! You've come to the right place to chat about real estate. What are you hoping to get out of your investments, and how close (or far) do you want to be from them? I think the answers to those questions will allow for some better answers to your original question. 

I'm a big fan of Hartford county Connecticut, but that's somewhat because it's what I know best, so there's an obvious bias there. The price points get lower the further north you get in CT, but some folks don't want to be that far away from their properties. 

Well yes, that certainly makes a lot more sense now! Family doesn't count, LOL!! Enjoy! 

Got it... 

In that case, your private lender is seemingly foolish. Private money is nearly 3X what s/he is offering you. 

I'e got to admit, and certainly not one to be be a debbie downer, but this whole thing smells really fishy. If your pvt lender really is offering rates that low, send me their info, I've got a few deals for them to fund!  

I'm no expert in financing or lending, but that sounds like loan fraud if I've ever seen it @Michael DiDio. You're telling your lender that you're buying it to owner occupy it, but then putting a tenant in place instead? 

Pretty sure that's illegal in all 50 states, Connecticut included!

Sounds like the debt servicing kills the deal, no? If cashflow was 300ish before debt servicing and debt service is 400+ how do the numbers work here? 

I'm confused @Michael DiDio - how are you going to purchase as a primary residence? Your first post said you have a tenant ready to move in at $1,400. 

Are you going to live there, or rent it out? I don't see how it can be both.

I also don't see your mortgage payment / debt service in your calculation. 

@Victoria Rose, I just stumbled across this website for Connecticut foreclosures here on BP. There's some Fairfield county towns on the list as well. https://sso.eservices.jud.ct.g...

@Minna Reid they are up and running again. Finding a good one worth buying is the problem! :)