All Forum Posts by: Mark Avery

Good Morning Johnny,  If you're interested in Fairfield or Southern Litchfield Counties, I'm happy to talk about the opportunities there.  Thank you in advance, Mark

Hi @Quynh-Chi Nguyen, Congrats on an accepted offer.  Yes, next steps should be inspections (building, well, septic, radon... etc).  And then any re-negotiations (if needed) once you have the results of all the inspections.  Start looking for an attorney while going through the inspections b/c in CT you'll need them write up the contract and very important they'll do your title search.  Once everything is settled and both parties have signed the contracts, get you cash ready for the closing.  Congrats again, Mark

Hey @Glenn Mayo, You bring up some good points and yes, I agree, that an investor really needs to think good and hard with a solid long view on CT real estate.  2 of my friends just had major layoffs in their companies here in CT.  Not due to the conditions of the state, just economics of their industries.  So now these families will be faced with whether to stay or go and look for work elsewhere and be in a "must sell" scenario.  But the strength that @Jason Arcuri touched on is alive and well.  Solid SF or MF investment worthy properties are in multiple offer scenarios and gone within hours or days.  The gold coast is holding/gaining value with rents only going higher and because of that people are willing to commute from further away, thus driving up the rents in other areas.  (IMO) the best advice to your brother is don't sell, find a good management co, move, rent it out, and (depending on the numbers) use the cash flow to pay down the dept until the wheel turns.

Hey there @Ryan McCann, right now for multifamily I'm focusing on New Haven, Danbury, & New Milford areas. Very Different areas I know but they each have their strengths. I think the possibilities for SF buy and hold in Western CT is in the Danbury Area. That's vague I know but in Danbury (and others close by) the taxes work, rents are saying high, and we're seeing prices being pushed lower by the fact that there is a large demographic needing to move on to the next stage in their lives, their homes haven't been updated since the 80s and of course more inventory than buyers. Put this together with the "fact" it takes 2 incomes to afford CT and the millennial family predominantly wants to spend their time and money traveling and experiencing rather than at home nesting. So, if you can make the numbers work to offer the rental with lawn care or snow removal included then you're really in a great spot. I know this is all very general. If you'd like to talk more specific, give me a shout. Always happy to talk REI.

Hi @John Mayer, replied to you in another thread as well.  Feel free to get in touch to chat about the Danbury market.  Look forward to talking with you, Mark

Hi @John Mayer! Welcome to BP, one of the best REI resources on the web. I see from another post you're in the Danbury area, is that correct? I'm an agent/investor in Northern Fairfield & Southern Litchfield counties and do my best to stay on top of the market. I'm always happy to meet up and chat about the market, if that works for you? Cheers, Mark

message sent.

Hi @Loubert Antoine  Congrats on getting started in Bridgeport.  I'm an investor/Agent in the Wilton to New Milford area.  I think there is great potential in the Bridgeport area.  Would be interested to to talk more about what you see going on and your first property.  Cheers, Mark

Hi Matt,  Welcome to BP!  It's an amazing resource and the amount of collective knowledge here is mind-boggling.  I'm based in Ridgefield and focus my investing & business in Northern Fairfield county. I'm happy to talk about the market and what's happening in Western CT.  Best wishes and look forward to talking to you soon, Mark

HI @Jay J., an appraiser I've worked with before in that area is Sidney Almeida  He's an agent & appraiser.  We know each other through Berkshire Hathaway. If you're interested send me a PM or text me directly.  Best wishes, Mark