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All Forum Posts by: Jeff Lamothe

Jeff Lamothe has started 4 posts and replied 91 times.

Post: Investing in the Scranton/Wilkes-Barre Area

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

I would love to hear more about this meet up and network with folks.   Thanks for offering to set something up @Que Tran.  

Post: How to find the owner of a Duplex

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

@Michael Ringler there are also real estate websites that can help you identify property owners and offers skip tracing so you can get their direct phone number.   One of the websites I have heard a lot about is PropStream.    They offer a 7 day free trial.  Best of luck.

Post: 203k loan rehab n Middletown CT

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Hello @Khalid Ellis.   I've worked with a very good agent that works with investors.   Feel free to inbox me for his contact information.     Best of luck in your journey.   

Post: Rental destroyed after not being able to evict

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66
This is a terrible situation and bad tenants like this will make things harder for decent residents looking for affordable housing.   

It looks like the owner did not stick to his standard screening procedure for this tenant because of a recommendation from one of his subcontractors.  According to a Facebook discussion, the owner stated that the tenant would not qualify (felon /poor credit) under normal circumstances and only gave this guy a chance because he worked for one of his subcontractors.   I hope David gets this tenant charged for vandalism so that they can go back home (Jail).  

Originally posted by @Filipe Pereira:

So I'll chime in here, because this is my market (Bristol, CT) and I know the owner (David) personally. I won't speak on his behalf, but I will say that he's been around the yard long enough that he knows what he's doing. 

This wasn't a rookie mistake or a poor judgement call. I think David would agree that he sometimes plays in the grey area, and that means there's more risk...with a potentially higher reward. He's one of the three landlords in the area suing our Governor, and I can't fault him for it. 

Take a look at this screenshot of the original facebook post if you can, it's amazing how it's spreading like this. Over 5,000 likes and 3,000 shares! Wow. 

Post: Best areas to invest in Connecticut?

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Welcome aboard to multi-family investing @Abbie Gibson.   I hope your investing journey starts off on a great note.  Prior to the virus pandemic, Connecticut had several monthly meetup groups where investors would get together and network with each other.  This included Fairfield Cty, New Haven, and Hartford.   A lot of those meetings slowed down since the pandemic, but New Haven continues to have monthly meetings at the beginning of every month.  

Go to the events page on BP and search for upcoming events near your zip code.   https://www.biggerpockets.com/...

BTW: I like @Filipe Pereira breakdown of the Hartford County rental market.  Wish there was a similar breakdown for Fairfield and New Haven counties.   I may need to draft something and get input for fellow investors & PMs in the area so we can post it here.   

Post: Greater Scranton PA

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

I am glad to read this discussion forum and thanks for your insight fighting for property owners @Adam Guiffrida.  I am giving consideration to Scranton and see how the taxes can kill deals.  

Post: Looking for good location to invest ( buy and hold)

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Hello @Krystal Marquez.  Glad to see a fellow CT resident looking to invest out of state.  I hope all works well with your first property in TN and best of luck in securing your second property.   Any reason why you're looking to invest somewhere other than where you bought your first property in TN?   

Post: Long Distance Buy and Hold | PA

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Great discussion @Gary Swank and @Matthew K. This pandemic is definitely making things ugly.  Is it true that this new ordinance forces property owners to renew rental agreements with tenants, although the tenant is behind on rent?  

Post: Long Distance Buy and Hold | PA

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Thanks for the input on the search criteria @Anthony Angotti.  

For item #4, I did notice that some of the poor ratings did come from tenants and can accept that if they are being evicted or being penalized for breaking lease rules they would post bad ratings.    But then I see complaints about Management companies not responding to phone calls or responding to maintenance requests, it does raise a red flag for me.   I am fine with adding a step to verify the quality of the Property Management company by connecting with other investors operating in the area.   

Item #5 "Warzone":   It is true that that term can a bit harsh and scare off folks.    I am trying to avoid a situation that I experienced in my latest property, where it took me over 2 months to fill a vacancy due to the perceived reputation of the neighborhood. I certainly can appreciate that a city/town comprises of a mixture of different neighborhoods where some areas can see more criminal activity that others. 

Post: Long Distance Buy and Hold | PA

Jeff Lamothe
Pro Member
Posted
  • Posts 91
  • Votes 66

Thanks for the tip on Westmoreland Cty @Travis Sterner.  I also heard some good things about Pittsburgh as well.