All Forum Posts by: Hamlet J.

Hi Fellow investor @Wes Talbot, 

I hope that you're doing well. Congratulations on setting your goals for real estate investing! Here are some tips and advice on how to achieve them:

1. -Learn about different markets: It's important to educate yourself on different markets and investment opportunities, especially if you're considering out-of-state investing. You can do this by attending local real estate investment clubs, conferences, and networking events. You can also read books, blogs, and watch videos to learn more about different markets and investment opportunities.
2. Find a mentor or partner: It's always helpful to learn from someone who has already achieved what you want to accomplish. Consider finding a mentor or partner who has experience in multifamily or commercial real estate investing. This can be a great way to learn from someone who has already been through the process and can offer guidance and support.
3. -Build your network: Real estate investing is a team sport, and it's important to build relationships with other investors, brokers, property managers, and contractors. Attend networking events and connect with other investors online. Joining real estate investment groups on social media or through Meetup can be a great way to meet like-minded individuals.
4. -Develop a solid investment plan: Before making any investment, it's important to develop a solid plan that outlines your goals, strategy, and timeline. Consider factors such as financing, property types, location, and market trends when developing your plan. Having a clear plan in place will help you stay focused and make informed decisions.
5. -Take action: Once you have a solid plan in place, it's time to take action. Look for multifamily properties that meet your criteria and start making offers. Don't be afraid to start small and work your way up. Remember, real estate investing is a long-term game, and it takes time to build a portfolio.
6. Continuously educate yourself: Real estate investing is constantly evolving, and it's important to stay up-to-date on market trends and investment opportunities. Make a habit of reading industry news, attending seminars, and listening to podcasts to continuously educate yourself.

Best wishes!

Hamlet

In summary, to achieve your short-term goal of acquiring your first multifamily property this year and your long-term goal of getting into commercial multifamily or other commercial real estate sectors, it's important to continuously educate yourself, build your network, develop a solid investment plan, and take action. Good luck!

Hi @Steve Bugnacki, 

I hope this reply finds you well and in good health. It sounds like you have a solid strategy in mind for real estate investing. Here are some considerations and advice for your scenario:

1. Financing: Using a HELOC to access cash for real estate investing can be a good strategy, as it allows you to quickly close on a deal and take advantage of cash offers. However, it's important to carefully consider the interest rate and your ability to repay the loan. Make sure you have a solid plan for generating income from your real estate investments to cover the interest payments on the HELOC.
2. Target areas: It's smart to focus on specific target areas for your real estate investing, such as CT and Florida. This allows you to become familiar with the local market and identify potential deals more easily. Be sure to do your research on each market, including the demand for rental properties, vacancy rates, and local regulations.
3. Investment strategies: You mentioned considering both BRRRR (buy, rehab, rent, refinance, repeat) and flipping strategies in Connecticut, as well as long-term rental properties in Florida. It's important to carefully evaluate each strategy and determine which ones are most appropriate for your goals and resources. BRRRR and flipping can be lucrative strategies, but they require more hands-on management and may involve higher risks. Long-term rental properties, on the other hand, can provide more stable cash flow over time.
4. Property types: You mentioned considering both single-family and multi-family properties. Each property type has its own pros and cons, so it's important to evaluate which ones are most appropriate for your goals and resources. Multi-family properties can provide more rental income, but may require more maintenance and management. Single-family properties may have lower costs and be easier to manage, but may provide less rental income.

In summary, your strategy of using a HELOC to access cash for real estate investing and focusing on specific target areas is a good approach. It's important to carefully evaluate each investment opportunity and strategy to ensure that it aligns with your goals and resources. Be sure to do your research, consult with professionals, and have a solid plan in place before investing.

Sincerely, 

Hamlet

Hello @Janell E., 

It sounds like you have found a great deal on a multi-unit property, but are struggling to secure the necessary down payment. Here are a few options that you could consider:

1. Partner with another real estate investor: Have you considered partnering with another real estate investor who has experience and capital? You could offer them a percentage of the equity in the property in exchange for their investment. This could be a win-win situation, as you could bring your deal to the table, and the other investor could bring the necessary capital and experience.
2. Explore non-traditional loans: There are non-traditional loans that could potentially fund your down payment. For example, you could look into a personal loan, a business loan, or even a peer-to-peer lending platform. Keep in mind that these options may come with higher interest rates and shorter repayment terms.
3. Use a hard money lender: A hard money lender is a private lender that specializes in providing short-term loans for real estate investments. These loans are typically easier to qualify for than traditional bank loans, but come with higher interest rates and fees. You could consider using a hard money loan to secure the down payment, with the intention of refinancing with a more traditional loan once the property is stabilized.
4. Consider a joint venture: Another option to secure the down payment is to bring in a joint venture partner who can provide the necessary funds. In this scenario, you would be responsible for finding and managing the property, while the joint venture partner would provide the capital. In exchange, they would receive a percentage of the profits.

It's important to carefully consider the pros and cons of each option and to speak with a financial advisor or real estate attorney to ensure that you are making an informed decision. Good luck with your investment!

Hamlet

Connecticut investor. 

he current real estate market in Hartford and West Hartford is strong. According to Zillow, the median home value in Hartford is $135,800, and it has increased by 16.2% over the past year. In West Hartford, the median home value is $320,500, and it has increased by 10.9% over the past year. The low inventory of homes for sale has contributed to a seller's market in the area, with homes selling quickly and often above the asking price.

Hello Fellow investor, 

I am a local Connecticut investor. I'll do my best to answer your questions about investing in the Hartford and West Hartford real estate markets in Connecticut.

1. 1) How is the current real estate market in Hartford and West Hartford?

The current real estate market in Hartford and West Hartford is strong. According to Zillow, the median home value in Hartford is $135,800, and it has increased by 16.2% over the past year. In West Hartford, the median home value is $320,500, and it has increased by 10.9% over the past year. The low inventory of homes for sale has contributed to a seller's market in the area, with homes selling quickly and often above the asking price.

1. 2) What are some factors that make Hartford and West Hartford attractive for real estate investing?

Hartford and West Hartford are attractive for real estate investing due to several factors. Firstly, the proximity to major cities like Boston and New York City makes it a convenient location for commuters. Secondly, the area has a diverse economy with strong job growth in industries such as healthcare, education, and financial services. Thirdly, the area has several top-rated colleges and universities, which attracts a large student population and provides a steady demand for rental properties. Finally, the low cost of living compared to nearby major cities and the desirable suburban lifestyle makes it an attractive option for families.

1. 3) What are some potential risks or challenges of investing in the Hartford and West Hartford real estate markets?

As with any investment, there are potential risks and challenges to investing in the Hartford and West Hartford real estate markets. Firstly, the low inventory of homes for sale may make it difficult to find properties at a reasonable price. Secondly, the high property taxes in the area can eat into potential profits for landlords. Thirdly, as with any market, there is always the risk of a downturn in the economy or a housing market crash, which could negatively impact real estate investments. It's important to do thorough research and work with a knowledgeable real estate agent or financial advisor to mitigate these risks and make informed investment decisions.

I hope that my humble answers will help you in your journey. Wish you well!

Sincerely, 

Hamlet

6+ unit investor in CT

Hello fellow Investor, 

I would like to ask if you think that Waterbury is still a good place to invest. The city is now raising taxes. 

Hamlet

Hello fellow investor, 

When considering whether to invest in real estate or leave money in an IRA, there are several factors to consider. Here are a few points to help make an informed decision:

1. Risk tolerance: Real estate investing involves more risk than leaving money in an IRA. While real estate can provide higher returns, it is subject to market fluctuations and requires active management. On the other hand, an IRA is typically invested in stocks and bonds, which are more stable but provide lower returns.
2. Diversification: It is important to have a diversified investment portfolio. If the majority of your assets are in real estate, you may be over-exposed to this asset class. An IRA provides diversification by investing in a range of stocks and bonds.
3. Liquidity: Real estate investments are typically illiquid and require significant time and effort to sell. An IRA, on the other hand, provides more liquidity as you can easily buy and sell securities.
4. Tax considerations: Real estate can provide significant tax benefits, such as depreciation deductions and the ability to defer capital gains taxes through a 1031 exchange. However, an IRA also provides tax benefits, such as tax-free growth and potential tax deductions on contributions.

In general, both real estate investing and an IRA can provide strong returns over a 10-15 year period. Ultimately, the decision comes down to individual circumstances and preferences. If you have a high risk tolerance and are willing to actively manage a real estate investment, it may provide higher returns. If you prefer a more hands-off approach and value diversification and liquidity, an IRA may be a better option. It's important to consult with a financial advisor to determine the best investment strategy for your individual needs and goals.

Sincerely, 

Hamlet

6 doors + investor in Connecticut

Hi @Alex Ramirez,

I just send you a DM. I would like to connect and discuss Multi-family opportunities.

I currently have 6 unit but I want to grow.

Hamlet

Thank you. I already purchase it. It is going well so far. 

Hello all,

I am reviewing a decision if I should buy a 6 unit building with a septic system. The owner claim that he just invested 40k in a new system recently.

The price is right and the area is good.

Should I buy it or skip this one?

Hamlet