All Forum Posts by: Jay Hassey

Or Southie as it's known locally. 

Anyway, this post is more for personal reasons than professional. My girlfriend and I are looking to move to Southie in the near future (within the next 6 months). Prices are through the roof, was wondering if there are any Southie wholesalers on here that might be able to unload a property on me. Looking for 2+ bedroom unit pretty much anywhere but Andrews Square. 

Hi all,

Like the title says, I'm looking for both realtor and contractor recommendations for the Worcester County area of Massachusetts. I'm working towards flipping my first house in the near future, and I've got the rest of my team lined up. Any recommendations would be greatly appreciated!

Jay

Hi everyone

Being in the northeast, it's starting to get a bit chilly already. So it had me thinking, how does the potential for inclement weather affect your fix and flip strategies? Do you slow down during the winter months? I only ask because I know that the real estate market as a whole typically slows down during that time frame in this area. 

Jay

I think I should have mentioned this in my original post, but there was a multilevel addition added a few years back. The addition floors are fine. It's the original 2nd level floors that slope. Could this mean that the addition was done sloppily? 

Hi all,

I'm currently mulling over putting an offer in on a house that I viewed a few days ago. The offer would be for $120K, and the house needs a new kitchen, new hardwood flooring throughout (1800 sq ft home), and there appears to have been a leak from the upstairs bathroom that will need to be dealt with. Along with some other small things, I'm estimating rehab in the $45-50K range. Comps in the area suggest the ARV will be $230-240K.

My big concern about the property is that the upper level floors slope from back to front. I'd like to have a foundation inspection to make sure that there isn't a huge structural problem. If there isn't, and this can be fixed by using a filling compound or leveling it with plywood, would you proceed with the deal?

Jay

William Collins Thanks for the response William. I can afford to wait a couple months before moving in to a new place, so a 203k works perfectly for me. In fact, with the help of Michael Noto I submitted an offer for a bank owned duplex in East Hartford yesterday.

@Kim Giannola Just doing a quick 2 minute google search I found that in 2012 New Britain had the 4th most property crimes of any city/town in CT and the 6th most violent crimes. That's out of 169 cities/towns in the state. I'm not here to bash where people live, I'm just stating facts. I also said that I'd be willing to live there if I found a good deal in a safe neighborhood. 

@Michael Noto Thanks for chiming in. All of the towns that you mentioned would interest me. I'm relatively new to the area (grew up in the Boston are, been in CT since late 2011) and still trying to get my bearings on multi-family market. I would definitely like to pick the brain of someone with some experience in the area. 

Hi,

I've come across a few Connecticut threads already, but none really hit on what I'm looking for so I figured I'd start one on my own. I'm looking to buy my first rental property at some point this summer. I'm hoping to find a 3-family somewhere, and to live in one of the units. I'm just having trouble finding cities/towns where the numbers will work. I live in West Hartford (which is definitely off the table, way too expensive). I'm not opposed to living in a less than desirable town (i.e. New Britain) as long as the area is safe. Does anyone here invest in this area? Any suggestions?

Also, I was thinking about doing an FHA loan. I don't have much to put down, so it seems like the best option. Is there anything that should make me think twice about going this route?

Jay

Craig, I see you started in 2011 and have 3 properties? Did you find it overly difficult to get started? What towns do you own in? I'd love to get started ASAP, but am low on funds for the short term future unfortunately.

Raymond, I'm sorry, wrong lingo? Seller financing?