All Forum Posts by: Ivan Andrade

Thank you Craig Bellot, I will check it.

I have a 9 unit building in NB and looking for a good property management.   Anyone knows of someone that can help?

Thank you. 

Hi Jeffrey Marcelus, those rents are nice in Bridgeport then. $1,400 is a great number for a 3 bedroom, we only can get 900-1000 in the New Britain area. CAP rate in those areas then has to be really good!!

Hi Mark, I love the Ridgefield area but very expensive so never found a place to invest there but if you know of any good investments, let me know.  Thanks

Hi Kumar, I have not invested in Bridgeport just because I am more north in NY and is farther for me but   I have invested in Meriden and New Britain.  I believe prices are very similar to Bridgeport.  The area is also not good but even in those locations there are places that are nicer than the overall location.  We are trying to find properties in those places, we look for multis that look nice, that we can fix and make them nicer for the tenants.  All tenant paid utilities and gas for heating as tenants like that.  My experience is that is all about the tenant you get, we got a 6 unit and the previous owner had 2 empty and 1 bad tenant.  The units did not look to good, we fixed them, made the place look good outside and inside and market it for rent.  We had a lot of interest in them, we used a real estate agent to rent them and we found that it doesn't work well, he got us 2 bad tenants that we had to evict.  After that I took over that and I would say from 10 people that came, I liked one of them.  I let them all apply but usually most people won't apply once you tell them we do credit, eviction, criminal, job and salary checks.  Now we have all units rented with good tenants, they are not perfect. But usually at least 10 or 11 rents are paid on time.  It is good to talk to them and get a feeling of what they are about.  We found a great property management in Meriden but they are picky on the properties they manage and getting even more as they are good and have great demand.  I go there once a week usually with my business partner.  I have to say having a good business partner with same goals is invaluable, we can take care of any issue I feel, it would have been tough going alone.  We are seeing our roi at 30% so we want to do it again but it is not just passive, we go once a week as I said so be willing to travel.

Hi Bigger Pockets community, I am investor from New York that is looking for buy and hold properties in Connecticut.  I currently have 12 units and trying to double the units this year.   If I can help anyone with anything, please let me know, I would love to help and be helped.  My goal is to create passive income and that requires to have the right  network of people! What best place to find them than bigger pockets?

Ivan Andrade