All Forum Posts by: Jim Lally

Thanks @Raymond B. There were some folks who showed some interest back in the fall. I can reach out to them again. Yes I agree networking is very important in this business.

Welcome to BP @Preston Juskavitch ! This is the best website out there for learning and networking with fellow investors. In the short time I've been on here I've definitely learned quite a bit. The podcasts are very informative not to mention entertaining.

As @Shaun Reilly already mentioned, try to get to your local REIA meetings to network and learn more about your market.

Best of luck!

Jim

Just a quick re-post to see if I can drum up any interest.

Jim

Hi @Karin Crompton I will try to pick a night that the Huskies are idle! I'll let you know.

Jim

Hi @Tom Briggs

Welcome to BP! Always good to see some more folks from CT here. You will find a wealth of information on this site which is absolutely invaluable. I especially enjoy the podcasts. Have you been to the local REIA meetings? I attend primarily for networking purposes not for the coaching or guru stuff.

I am trying to get a meetup started sometime in March. Let me know if you have any interest.

Jim

@Jon Holdman

Will do. Thanks!

I am looking to get a meet up going in southeastern CT and would like to get an idea of interest from anyone. This wold be very informal and collaborative in nature with no gurus or sales pitches. I'm thinking about sometime in March at this point.

Any interest please let me know.

Thanks!

Hi @Jonathan Makovsky I appreciate the information. I will definitely contact Mickey.

Thanks!

Hi All

Looking for a good investor friendly attorney in southeastern CT that can assist with contracts. Any sugestions?

Thanks!

Jim

@John Chapman you make some great points about the pitfalls of investing in "junker" properties. I think the key is to do your due diligence on the area to understand if it's growing economically or not from an appreciation standpoint. I would personally stay away from anything below a C level property for cash flow purposes. The headaches of managing the tenants and the potential for non-appreciation are just to much for me. However, as you said if the price is right and the area is improving it may work out long term.

@George Paiva you make a great point about the non-conforming use aspect. You can easily get stuck with a property that is no longer grandfathered from current zoning regulations if it has lost it's continuous use status(sat vacant for an extended period of time). I agree that there are plenty of MFH properties in Connecticut that are completely outdated (electrical, plumbing, etc.) and run down but the landlord still wants top dollar! I would check what the local zoning codes are first to be sure everything is in compliance.