All Forum Posts by: Jonathan Makovsky

Originally posted by @Ryan Deasy:

Hello all:

I have a property in New Britain, Connecticut that I will be closing on soon. Can you please make a suggestion as to whom is the best carrier for a land lord policy?

Thank you!

You live in Texas and you're investing in Connecticut? You are definitely on the road less traveled! :) 

If it's a smaller multi-family then some people mentioned Farmer's and we've used State Farm.  But if it's a bigger multi-family then you might want to look at Vermont or Guard (branch of Berkshire Hathaway) - they are very good and competitive. 

Good times by all. Next REI Connecticut meet-up will be on Aug. 30th, same time (7pm) and place (Crave).

Looking forward to seeing everyone at the Connecticut REI meet-up tonight!

(For those that haven't been - we usually get around 40 - 50 people.)

Please post if you can make it! 

Call all Connecticut, NYC, Westchester investors from:

Fairfield County: Bethel, Bridgeport, Brookfield, Danbury, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, New Fairfield, Newtown, Norwalk, Shelton, Sherman, Stamford, Stratford, Redding, Ridgefield, Trumbull, Weston, Westport, Wilton.

Hartford County: Avon, Berlin, Bloomfield, Bristol, Burlington, Canton, East Granby, East, Hartford, , East Windsor, Enfield, Farmington, Glastonbury, Granby, Hartford, Hartland, Manchester, Marlborough, New Britain, Newington, Plainville, Rocky Hill, Simsbury, Southington, South Windsor, Suffield, West Hartford, Wethersfield, Windsor, Windsor Locks

New Haven County: Ansonia, Beacon Falls, Bethany, Branford, Cheshire, Derby, East Haven, Guilford, Hamden, Madison, Meriden, Middlebury, Milford, Naugatuck, New Haven, North Branford, North Haven, Orange, Oxford, Prospect, Seymour, Southbury, Wallingford, Waterbury, West Haven, Wolcott, Woodbridge

Looking forward to seeing everyone! Please NOTE: **IMPORTANT**: We moved the location around the corner to an awesome bar, Crave (52 Sanford St, Fairfield CT)! Date: Wednesday, July 26th @ 7pm! (Last Wednesday of every month - so please mark your calendars, except Nov. and Dec.) Place: Crave, 52 Sanford St, Fairfield, Connecticut 06824 Time: 7PM mingle. At 7:30pm we go around room to introduce everyone so you can let everyone know what you do and who you would like to meet at the event (brokers, lenders, wholesalers, investors, attorneys, insurance agents, and more.) No Cost: It's FREE! Okay it's almost free - please make sure to buy (lots of) drinks and food from the bar. Happy investing!

*Bump for tonight's meet-up at Crave in Fairfield, Connecticut! ***PLEASE NOTE NEW LOCATION!***

Bethel, Bridgeport, Brookfield, Danbury, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, New Fairfield, Newtown, Norwalk, Shelton, Sherman, Stamford, Stratford, Redding, Ridgefield, Trumbull, Weston, Westport, Wilton

@Grzegorz Rdzak @Keith Lemms @Alex Maldonado @Jimmy Edwards

Please see the June event and please note NEW VENUE (around the corner): https://www.biggerpockets.com/forums/521/topics/455672-connecticut-real-estate-meet-up-wed-june-28th?page=1#p2841818

IMPORTANT: We are moving the location around the corner to Crave! Anna Liffey's has closed its doors and we will be meeting just around the corner at Crave, 52 Sanford St, Fairfield, Connecticut 06824. (It's so close to Anna Liffey's that you can keep your same parking spot you had for the past 3 years!)

You may have noticed the emails for the last few meet-ups have been going out a little later than usual. This is because we started to see the writing on the wall that Anna Liffey's will be closing (or rather the walls being filled with less and less booze).

The good news is that we have a great place right around the corner at Crave! So it should be an awesome time: real estate + food + alcohol! Please show your support to the new place and please make sure to order drinks and food.

Regular details of the meet-up below:


Real estate investor meet-up tonight!

Date: Wednesday, June 28th! (Last Wednesday of every month - so please mark your calendars, except Nov. and Dec.)

Place: Crave, 52 Sanford St, Fairfield, Connecticut 06824

Time: 7PM mingle. At 7:30pm we go around room to introduce everyone so you can let everyone know what you do and who you would like to meet at the event (brokers, lenders, wholesalers, investors, attorneys, insurance agents, and more.)

No Cost: It's FREE! Okay it's almost free - please buy drink(s) and food from the bar.

LinkedIn Group: We started a LinkedIn Group for people to receive each other's contacts, here is the link: https://www.linkedin.com/groups/12013994


Happy investing!

Organizers: Jonathan Makovsky & Travis Previosi

To all the Connecticut investors, particularly in Fairfield County. Can you please let everyone know that we have changed venues:

We are moving the location around the corner to Crave! Anna Liffey's has closed its doors and we will be meeting just around the corner at Crave, 52 Sanford St, Fairfield, Connecticut 06824. (It's so close to Anna Liffey's that you can keep your same parking spot you had for the past 3 years!)

You may have noticed the emails for the last few meet-ups have been going out a little later than usual. This is because we started to see the writing on the wall that Anna Liffey's will be closing (or rather the walls being filled with less and less booze).

The good news is that we have a great place right around the corner at Crave! So it should be an awesome time: real estate + food + alcohol! Please show your support to the new place and please make sure to order drinks and food.

[Please post if you can make it and the town/state you're coming from.]

Hi All,

Our meet-up has been rocking averaging around 40+ people each month. We have a pretty diverse group of real estate investors and industry professionals; and you get to meet every person as we have intros at 7:30 PM.

Date: Wednesday, June 28th! (Last Wednesday of every month - so please mark your calendars, except Nov. and Dec.)

Place: Anna Liffey's (an awesome Irish pub) located at 1494 Post Rd, Fairfield CT 06824 NOTE: We are in the back room (http://annaliffeys.com). [NOTE: If you come before 7pm, many people are scattered in the bar in the front.]

Time: 7PM mingle. At 7:30pm we go around room to introduce everyone so you can let everyone know what you do and who you would like to meet at the event (brokers, lenders, wholesalers, investors, attorneys, insurance agents, and more.)

No Cost: It's FREE! Okay it's almost free - please buy drink(s) and food from the bar.



[*Important* Note]: There is a Happy Hour from 4pm - 7pm before the event starts. I think it's half-off most drinks ($3 craft beers).

Happy investing!

@Account Closed

There are typically four (and-a-half) areas for the Operator of the deal to make money. You do not need to do all of the below, but this is typically the way you make your money:

1) Acquisition Fee: When you buy the property you take an acquisition fee of the deal. It is often 1% - 2% of the purchase price.

2) Asset Management Fee: Every year you can take a certain fee for operating/overseeing the property. Often this is 1% - 2% of the asset.

3) Promote: Many sophisticated operators will pay their investors a "preferred return", and then once the preferred return is hit, then there will be a pro-rata split of the remaining funds. 

For example, if you have one investor that invests $100K and you offer that investor an 8% preferred return (aka a "Pref") with a 70% / 30% promote (or split) of the remaining funds (the 75% goes to your investor and the 25% goes to the operator). 

So in a situation where you make an $18K return, the first $8K will go to your investor for their 8% Pref, which leaves $10K leftover. In that case the next $10K will be split based on the 70:30 promote, or $7K for your investor and $3K to the operator. 

[Note: if their is a 2% Asset Management Fee that will often take place before the Pref - although I like to pay it after the Pref is first paid to the investors and then you take your Asset Management Fee.]

4) Disposition Fee: Once the property is sold you can take a fee for the disposition (i.e. sale) of the property, this can often be around 1%.

Sort-of 5) Property Management Fee: I write sort-of because this number is above the NOI (Net Operating Income) line and is therefore an Operating Expense and is part of the day-to-day of managing the property. However, the reason I include it is because if you are going to be managing it, it is still money you can put in your pocket AND should also be disclosed to your investor.

Happy investing!