All Forum Posts by: Mario Bellavia

@Ryan Deasy honestly it was my first buy, back in 2009, I knew nothing about real estate.  I wasn't investing for a rental, it was my first home.  I grew out of it and was lucky enough to have made a smart purchase and gain a good rental rate.  Now that I've been in the industry the last three years and managed my rental, I'm looking for my next buy to be a multi-family home with a stronger return.  

Nice!

@Andres Aguirre Yea, I just got hit with an assessment at 700 Summer St, I'm paying $280 in common charges, $104 special assessment for the next 5 years.  I bought for $110k and rent it for $1350 a month.  I rented it for $1450 at the height of the market but the saturation of rentals in Stamford reduced it. It's worth $165k now. The superintendent is great.  I also like condos like @Christopher Collins because of the low risk.  I'm good with a portfolio of 5-10 condos if I can make it happen over the next few years.  

@Ryan Deasy Can you recommend a realtor in New Britain that knows the better areas to invest? 

Hi @Andres Aguirre I invested in a condo at 700 Summer St in 2009, it flows about 10%.  Like @Christopher Collins said, most things on the mls aren't great investments at the moment, but put the time in and you may find a diamond in the rough. @Christopher Collins where are your condos in Norwalk?  I have cash, I'm looking to buy another condo (commons charges $250 and under, property taxes, $2500k and under for the year, I'm looking for $100-$130k max).

What is your budget? @Trisha Racho Your budget will determine where you can invest in Fairfield County. 

See you all tonight! @Bogdan Constantin Stefanide @Rob Winter 

@Thomas S. @James Barnhart My tenant knows I have him on the hook for the full amount of the termination fee, he admitted to it today and my attorney confirmed it.  I'm going to take only $600.00 from him vs the $1020.00.  He works multiple jobs; Uber, Home Depot, etc. and just got accepted into affordable housing.  I have the place rented with no vacancy loss, a larger security deposit from the new tenant, and $125 more a month in rent with the new lease. 

@Thomas S. Spoke to my attorney today.  I can't start the NTV process because the tenant has agreed to move out and the NTV process is only for an eviction.  He stated just collect the keys from the resident when he moves out and accept nothing less then what is owed.  They will advise once keys are collected how to proceed about collecting any money owed.  

I issued the tenant an official notice today stating that rent is due, his early termination fee is due, and per our lease I do not give consent to apply his security deposit to his early termination fee. 

@Jenny Stallings Check out these informative links:

https://rehabfinancial.com/blog/why-you-shouldnt-u...

https://www.biggerpockets.com/forums/67/topics/81818-benefit-of-using-own-title-company-vs-sellers-title-company-fannie-mae-hud-etc