All Forum Posts by: Jason Arcuri

great investment.   4 families are awesome.  Just make sure your return on it is good.  If you're going to live in it you can get fhaand buy it just like a single family home.  If you're not going to live in it, usually lenders will want a sizable down payment plus 6 months of mortgage in the bank.  Good luck

I'll let the people from here answer.   If no one provides one for you, I'll reach out to another group I'm in that has very active knowledge agents.  Just let me know.

welcome to the forum!  I'm an agent in Connecticut and if you're looking for someone who will gladly pay a referral fee please add me to your list.

his name is Ori. Based out of New haven and has done wonders for me.  Also specializes in evictions.

 (203) 562-8887

this is what I put

"I saw you home advertised on Zillow.  As inventory is dwindling in our area over the Winter, serious buyers are still out buying, and watching for new listings to come on the market.  Let me know if I can help you sell it, or if you have any real estate questions that arise during your sale.  I'd love to take a look and get you moving!  INSERT YOUR CONTACT INFO HERE If it helps at all, some of my past clients have added their reviews of my services on Zillow also."  

Not all expireds are the owners fault. Priced too high, doesn't show well, some are the agents fault. What did they do to get it infront of the right buyer? Are the putting it on the MLS and not doing anything else? Are the pictures GREAT quality or just ok or ****. Like @Mike Gallagher said it's a numbers game. I also wonder if that the program your using to get you these numbers i part of the reason. Maybe a lot of agents in your area are also using this program. It's been proven not to be a waste of time by many many agents. But they are really good at what they do and they time block. Now after everything I've said, I don't really waste time on it because it's a lot of numbers and I hate the salesman pitch. I've recently switched to texting FSBO and am getting some decent responses plus I don't waste much of my time.

Hey @Frank Luongo , 

That is extremely impressive how much research you have done into each of these towns. I would like to point out that there are a lot of good indicators you are using but vacancy rate may not only deal with the city but also the home ownerships in the area. I know people who get very little vacancy because they go the extra mile to make tenants happy. As far as numbers for average cap rates, I couldn't help you on finding that but I would suggest that you find a number that you are happy with. You may be surprised and find an amazing deal in a nicer town if you keep all your options open that has similar if not better CAP rate.

I personally look for something that will make $1000+ month positive cash flow and a Cash ROI of 15%+ . I usually do my numbers around a 10% vacancy rate but honestly, I generally take out 2 months rent out of 1 unit a year as a average worse case scenario. I figure that if you lose a tenant and then go in clean it up and then take your time finding a quality tenant you are out 2 months at least.

Everybody has their own system of what they find works for meeting their needs, but I love going for higher Cash ROI. I don't take into account how much of the mortgage is paid off or the tax right offs that come with owning the house because I plan on owning the homes forever. So equity really doesn't mean much to me unless I plan on refinancing it our leveraging it for another purchase.

Good luck in your search.  I believe Connecticut is an amazing place to invest even though we are a tenant friendly state.

Cash offer is usually better and what I would recommend as the agent listing the house.  However, I purchase a multi family with financing when there were 2 other offers of all cash because my offer was 10k higher. Some people look at the higher pay day over the fact that one is almost guaranteed to close.  Just putting this in here as a devils advocate.

yeah that stinks when there are inside deals.  Another way to go is look for an agent who does reo properties they will have the inside track

If you can work with an agent who specializes in it that is great. If I was you, I'd look for a newer agent who is extremely hungry to grow. Interview a couple of them and see what they know and what they admit they don't know. If you have the funds or the hard money lenders backing you, the agent is more to help you find a home at that point. If they are scouring the MLS looking for the new fixer uppers or the old ones that have dropped in price, they can help notify you when something comes on. They also can setup a listing alert so that you get notified immediately and don't have to waste your time every day looking at Zillow or realtor.com.