All Forum Posts by: Lesley Govan

Looking to purchase a Multifamily property in Ansonia CT to owner occupy. Please let me know if anything comes up!

Thank you for all your responses!

Hi,

I need an agent who is very familiar with all areas of Shelton, Derby, and Ansonia.

Thanks 

Lesley

Thanks Mike!!

Hi,

In the coming year I'm planning on investing in a multifamily in New Haven county Connecticut and I need some BP recommendations for the following please:

- investor friendly accountant

- inspector that is thorough with insurance

- insurance company for multifamily properties.

Any suggestions in these areas would be GREATLY appreciated!!!

Thanks for your time!

Lesley

Looks like a lot but you can do this! Good Luck!!

Welcome Cortez! I highly recommend the podcasts!! You will learn a lot! Never stop learning!! Good luck!

Welcome to BP! Love this site, you can learn everything you need to know here!! 

Good luck!

Hi,

I've been researching multifamilies that I want to live in and found one that has oil heat. Ultimately I would like to have gas if I was living there. Is it worth it to convert to gas I it will end up being a rental? It's a big expense but if I get the property below market value should I do it or just leave it?

I oil tank is above ground.

Thanks for your thoughts BP!

Lesley

Hi Alison, 

I have not bought a property yet and I'm in the analysis phase too. But here's my 2 cents. I like to be very conservative in my analysis. I see you have repairs, capex and vacancy at 2%. This house was built in 1928, IMO I use 10% across the board just because you never know what will come up in a house that old. That being said, looking for cash flowing properties in our area is hard because everything is so expensive and a lot times they just don't cash flow.

I plan on buying a multi family in the new year but I've been running lots of numbers, it's great practice. 

For me, I need to find something off market in order to be able to make it cash flow I think, at least that's what I'm going to try to do. I want to live in the property I will buy but I still run the numbers as if it was fully rented out.

Are you using Rentometer to calculate your rents? I find that really helpful. I also use SpotCrime to check on crime in the area because I want to live there and feel safe.

I'm new, but if I can help you out in anyway, let me know.

Good Luck!

Lesley