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All Forum Posts by: Mario Bellavia

Mario Bellavia has started 4 posts and replied 152 times.

Post: Cheapest Ocean front in Connecticut

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Thanks @Jack D. love old Say Brook, Fresh Salt restaurant is amazing!  

Fairfield County is obviously out of the question, there are so many towns to pick from beyond though, it's overwhelming. 

Post: Cheapest Ocean front in Connecticut

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Hi All!

My wife and I are testing the water for the best bang for your buck home in CT, ocean front, or a quick walk.  Fixer upper with future equity potential, potential for a big upward market swing, and strong rental rate.  Budget is under $175k.  

We have a primary residence, we're looking for a weekender home with the potential of renting it out possibly 6 months out of the year, full time in the short term, or just during the peak summer months; areas of CT that attract a strong summer rental market.  I have no education beyond Fairfield County. 

All opinions welcome.  Thanks!

Post: Whats the market like in Connecticut?

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

We should talk more @Filipe Pereira Stamford has gone to **** now.  There are way too many buildings and it's driving private landlord pricing way down.  

My tenant just broke her lease and I had to drop the rent $100 just to get people in the door, compared to last October.  

Post: Tenant Prescreening Questions

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

I just implemented this pre-screening document today.  My tenant is moving out and this document is amazing at weeding out potential waste of time tours, I love it!  I customized it to fit my needs, received two back already!  Thank you!!

Post: Downtown Stamford Connecticut condo

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

love Stamford

I also have an investment in CT, Stamford.  A studio condo I purchased in 2009, $120k.  It's worth 165k now and I'm getting $1450 monthly.  If you know your target area well enough you can make money anywhere.  

Post: Ready to start...Help!

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Hi @Heidi Kenefick welcome to CT and BP.

I would recommend renting for a year to get your feet wet and really experience the area for yourself.    Taking on a new job and managing 3 apartments is a big responsibility if you are going to do it yourself.  If you hire a property manager, you need to shop around, and ensure the rents you can get are going to cover your monthly expenses.   

I would encourage taking a real estate course, potentially getting your license.  I just took the course myself an learned a lot, in the process of getting my license.  

Best of luck!

Post: Greetings from Norwich Connecticut !

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Welcome neighbor, @Dale Kuhn you've come to a great website!  Best of luck to you!

Post: Investing in my first condo

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Run the numbers, do they work. Aim for 10% return or higher. Do you have extra cash in the bank to reno it, does it even need reno. What will it rent for, what are your monthly expenses, how much are you making after everything is paid off, what are the taxes. Who's managing it, do you have to hire a property manager? What are HOA fees. Is there a parking space, is it covered, secured? How much does the condo association have in reserves. Are they planning any upcoming updates that will assess a charge (my condo just decided to re-do cat walks and rear driveway, costing me $120 a month for the next 5 years). How are the neighbors, ask around, what are they paying. Check recent condo sales, are you getting it under market value, at market rate, or above. Make sure you have a good lawyer, I use http://www.landlordlawfirm.com/ in Milford, CT. Make sure you have an amazing lease that covers as much as possible.

Post: New Real Estate Agent in Connecticut

Mario BellaviaPosted
  • Real Estate Agent
  • CT
  • Posts 160
  • Votes 72

Congrats @Melba Chambers !