All Forum Posts by: Jaysen Medhurst

@Shane Bladel, we really need to better understand your goals and requirements. How involved do you want to me? What kind of properties? How much are you looking to invest? While it sounds counter intuitive, the more specific you get the more opportunities present themselves.

Any recommendations, @David Wolber, @Scott Pierce, or @Mat O'Grady.

@Ryan Morrissey, it's also worth checking out the SE CT Meet Up that Mat hosts.

@Chris A., DSCR also includes taxes and insurance. You'll probably still be fine, though. Most commercial lenders want to see 1.2-1.25 or higher.

Where is the property located, @Marcus Goormastic? How many units?

@Ryan Wilkinson, have you considered Middletown? Around Wesleyan?

@David M. and @Mike L., Fannie Mae explicitly allows title to be transferred into a LLC after closing. This isn't an elimination of the Due on Sale Clause. Notably, Freddie Mac does not have the same allowance. I've never heard anything about CT "outlawing" the DOS clause.

@Rhett Stephen Lowe, finding off-market opportunities is possible. You need start by narrowing down what areas you're interested in and what your criteria are. Then start compiling a list. You can pay a list service or do the legwork of searching through property records. Pare down that list as much as possible and then start sending letter and trying to make contact with owners.

We really need to see all of the numbers, @Sandeep Pulugurtha. You'll be right around the 1% rule when all is said in done. Depending on taxes, insurance, and owner-paid utilities the cash flow might be a little tight after refi. But if you have only $10-20k into it, that may be fine.

@Teya Beradze, it would be great if you knew a property manager and contractor! Even if it's just friends/family with no RE experience, you can leverage their relationships to meet people, get a sense of neighborhoods, make a quick drive-by a potential property.

I think the real question, @Teya Beradze, is where do you have connection and "boots on the ground?" Start with that list and then narrow it down.