All Forum Posts by: Jason Boice

I am new to obtaining bank financing on a deal. I have a couple questions that I am struggling to understand.

1) I called a few banks telling them I am interested in investing in a condo as an investment. I was looking for a 30year fixed with 25%down. The interest rates I am being quoted are significantly higher than friends of mine buying houses to live in. Additionally every bank I have talked to so far requires points to be paid. Is this just the nature of obtaining an investment loan or am I going about something the wrong way?

2) If I use the BRRRR strategy, once the property is rehabbed and rented, and I look to refinance, what is the best product to go for? HELOC or refi into a conventional mortgage for an investment property, which I am assuming will be similar to question 1 above?

@Scott Hollister where is the networking tab? How often do you meet? I’d be interested in attending a future meeting, but can’t make it tomorrow. Thanks.

@Jason Arcuri I am looking in Hebron, Glastonbury and Wethersfield. Those are the towns I live in and pass through on my way to work and I am comfortable in those markets.

When I first started I bought properties in New Britain and Waterbury because they were cheap. I quickly learned that they were cheap for a reason and very management intensive. What I learned from that experience was that I am avoiding the cities and focusing on suburbs and higher quality areas.

@Lajean Jones what is ringless voicemail? How do you find expired listings on the MLS? If pulling tax delinquent lists at the town hall, do I just go ask the tax collector for those?

@Mat O'Grady sounds good. Do you want my email address here?

Thanks @Mat O'Grady. I am from Hebron, so Stonington is about an hour drive for me. But I might be interested in doing it for the experience and to meet like minded people. When are the meet ups?

Have you had any success finding deals in the MLS or have you had most of your success finding distressed properties on your own or through wholesalers?

Anyone investing in Connecticut? A lot of the deals I look at don't make money based on many of the metrics I read about on BiggerPockets due to the high taxes here. It's hard to find stuff that cash flows or to buy a property below market value enough to do the BRRRR strategy. I'm thinking this is because I am mostly searching on the MLS. I am interested in seeing if anyone else is having success in Connecticut and offer some advice about how they are finding deals. Thanks.

What are good ways to find wholesalers in my area? Or other ways to find distressed deals? I have tried direct mail, but just don’t have time with my day job to take calls and look at properties. Therefore, I am looking for a more hands off way of finding distressed deals. Any recommendations? Thanks.