All Forum Posts by: Jason Arcuri

I have such a love hate relationship with Hubzu.  Currently bidding on a house that has no end bid date.  WTF?  However, I just had a client buy a house for themselves off Hubzu where I was able to negotiate them down from 225 to 194 with 4k back.   They got a rehab loan and are going to be in to the total house for 230.  Appraiser said it was worth 280 and honestly he was using comps on houses that needed updates and didn't have a pool.  I put the house worth 300.  So happy for them.  Unfortunately it's not a flip so not really an investment.  They just get a home with a ton of equity.

Glad to see you're starting to make your big move!  Definitely smart on how you're searching for an agent that understands this.   I can tell you a lot of agents don't understand investing.   Talk to Dan.  He has been there done that which is great for you.   I work new haven county and going that way would be a disservice to you unless you were looking in Danbury - Newtown area.   Good luck and keep us posted

a pour of people don't want to incest in Waterbury first a few reasons and one of the biggest reasons is the mill rate.   They have one of the highest in Connecticut.    That being said,  rents are usually 650-850 a unit and I just talked to an appraiser earlier this week that told me 4 families in the nicer areas are selling around 225 to 235k.  He called me wondering how many client got his for 195k. Like with any city,  the more you move into the "less desirable"areas the better the return on investment.  

There was one neighborhood I did a cma for and 4 families sell for about 110k.

Hello @Lesley Govan,

By no means will I claim to be very familiar with those towns.  I do know them as being originally from Naugatuck and having friends in those areas.  I'm not far from them either living in Southbury now.  I'd love to help you but completely understand if you want someone intimately involved in those towns specifically.

:-)

I use an agent for mine and he's done pretty well shopping around for me.  Names Bill Mitchell.

I'll pm you his info

From what I've seen in Danbury, the prices are extremely high and the rents are too but not enough to offset the extra cost.  That being said, definitely not an expert there and I wasn't looking at student housing compared to normal rental properties.  I generally like rents in New Haven with the prices there but even those prices have been recently sky rocketing.  There's definitely a lot of opportunity in CT for rentals but I do suggest actively looking now.  Rental housing has been going up at a very fast pace in most of the cities that I've watched.  I got clients who were looking 2 years ago and saying the prices were too high regretting they didn't jump then.

@kristi Buell not a lot of good flips come up in Southbury.   Over the last year I've maybe seen 5.  I wouldn't limit yourself to one town.   If you're doing nicer remodels,  it really shouldn't matter what style you're going with.   I can tell you that a lot of the houses are different in Southbury.   Generally people like very nice turnkey properties.   Also depends on what prove range you're in.   Personally,  I'd recommend looking for smaller easier flips in cheaper towns for your first flip.   The lower price homes sell quicker and you don't want to be stuck for a while.   

Sounds like you really want to design beautiful things, especially with your background.   Use your background to make really inexpensive things very nice.  

If you ever want to sit and get a coffee let me know.  I love talking about this stuff and hearing about people's personal investing style and ideas 

My first projects budget should of been blown out of the water.  I ended up doing some work myself to save money.  I had done quite a few projects on my personal homes and thought prices for contractors would be less than what it turned out to be.  I also went a lot nicer on things I could have gotten away with much less.  It was a great learning experience and I only made 15k at the end for 6 months of work.  I also found out and still find out to this day, light fixtures kill me.  I seem to always underestimate how much they will cost lol.  Hope this helps.

Hey @Raymond Murray,  
Welcome to the forum.  Southington is a very nice area. If I was you, I'd try to stay close by with your first rental.  I love investing in New Haven but I think thatd be to far for you.  Waterbury taxes are high but there is a lot of bang for your buck.  I'm working with a few buyers in Waterbury and it's pretty amazing what is available for the prices. 

honestly don't know any one that has gone that route.  Please keep me posted if you do go that way. I'd love to hear about your experience.