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All Forum Posts by: James McCard

James McCard has started 3 posts and replied 273 times.

Post: BRRR in Central MA, Appliance Recommendations Needed!

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

I am a big fan of going used with appliances but keep in mind I have no qualms ripping apart a washer or dryer and trying to figure out what is wrong with it. If you buy a used washer for 100 vs 500-600 new and it lasts 5 years and needs a part I feel you are still ahead of the game. 

My parents have a brand new Samsung HE washer and steam dryer... does it do a better job than my used CL Samsung HE washer? Debatable - we found ours, guy replaced his older washer and dryer not realizing a HE washer needs the door left open. They got installed in a hall closet. He got angry having to leave the closet door open all the time and put the old ones back in. I bought a basically brand new washer for pennies on the dollar... don't even get me started on the Jenn-air fridge we are picking up for our primary for 550 this mont either. New it was probably 5500. 

Just food for thought 

Post: Seeking a CT Broker to Hang License With

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

You should reach out to Rick S at a local meetup or PM him here on BP. He is a broker with an office in Clinton - if he does not have a need I am sure he can recommend someone who does. However remember you have to provide value. You should think what can I offer this broker in return so that he or she can teach me the tricks of the trade. 

Post: Investing in brick multifamilies

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

I live in the NW corner of the state, lot's of old properties out this way. Plenty of them being brick, I would probably rather live in a brick home than a tradition sided home out this way. Do brick places need more upkeep? Generally not - they will weather and age like any other thing in the northeast. The nice thing is the patina that they get as they weather and age. 

If you couldn't tell I am a big fan of brick

Post: Hartford CT - what do you think of investing there?

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

I do not really worry too much about the north end. That is me personally - I have a lot of friends who live in that area. Something to remember is that most of the people who live in that area are people just like you and I. Just trying to get ahead and work. Posting a specific address or area would help. 

There is a guy like me on every street corner in America, just trying to hustle to make a little extra. I might do it in a different way but I always respect the hustle. 

Post: Should I upgrade my garage in my rental property?

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

I would do it. Although perhaps look at renting the garage seperately instead of to tenants. People who own motorcycles, classic cars etc are always looking to store stuff in a safe secure location. They are probably willing to pay a bit more than an average renter to park in a garage. 

Another guy from the NW corner of CT. I can't comment on @Michael Noto as I have never worked with him before but have seen him post here before. 

Filipe is a guy who I met at the central CT real estate meetup a few years back. Great guy and works his butt off. 

As a side not if you need a hand or want to meet up for a coffee to chat let me know, always good to have another guy out in my neck of the woods. 

Post: Whats the top 3 credit card for real estate investing expenses

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

I use the Discover It card. 5% cash back on rotating items that change quarterly. There is no annual fee and they match your cash back after 1 year. If that isn't a bonus I do not know what is. 

Post: Good out of state duplex deal in (CT) Connecticut?

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104

Here is my advice. Take a look at the property. CT is a great area to invest in. I can say I would invest in xyz area and you may say I wouldn't walk through there in the middle of the day. It's all what you feel comfortable with. I tend to zig when others zag and that's sometimes how you find deals. 

Post: Winter proofing property and protecting myself as landlord

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104
Originally posted by @Nicholas Hunt:
That's a great question...

As a followup - I've been including $500/yearly towards expenses using the Rental Calculator. I live in Maine. Is this detail too much for initial analysis of cash flow?

I find when I start to add snow removal, heat etc... nothing cash flows!

Hey my sister lives up in Saco. Here is the issue - if it is 50 a pass by the snow plow man and you have 4 regular storms and one storm that's a lot and requires 2 passes guess what that 500 is gone. 

Post: Job title - fact or fiction

James McCardPosted
  • Investor
  • New Hartford, CT
  • Posts 281
  • Votes 104
Originally posted by @Joe Splitrock:

@Jennifer Delmore I will be honest when I see a company with 1-20 people and some 20 something year old has the title "head of operations" or "VP", I totally laugh inside. It is so transparent that they just got to just pick their own title. Maybe some people don't see through that. I think it is about picking a reasonable title so you have credibility. A 24 year old VP of Operations just tells me it is a small company. In that case the VP is either a relative of the owner or is the chief butt kisser. 

 The last 2 sentences do not seem to have much merit. Age does not define work ethic. 

To the OP a job title is unimportant at least to me. In my current position and my last one you could find me wearing many different hats. To try and define them on a card is difficult. I just tell people I work in the automotive industry.