All Forum Posts by: Michael Doherty
Michael Doherty has started 49 posts and replied 423 times.
Post: Best practice for evicting after purchase of a foreclosure in Connecticut
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
@James McGovern first make sure none of the tenants are in a lease. If they are but have missed rent then you can move to a notice to quit and start the formal proceedings. You will need an attorney for this. It shouldn't cost more than 1500-2500. There are plenty of attorneys out there that can assist, if you need a recommendation please let me know (I invest near you in Bloomfield, CT).
Post: Tenant does not allow showing during last month of lease for 10-14 days
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Quote from @Pooja Jadhav:
Hi everyone, I own a single-family home with a mother-daughter layout and have rented out the lower level to two tenants. Their lease is set to end on April 30, 2025. I'm currently searching for new tenants and coordinating showings with the existing tenants. However, they recently informed me that they won't be available for showings from April 9th to 19th due to vacation plans. Ashley (let's say current tenant) is uncomfortable with potential tenants viewing the space while they are away. I responded that while I understand their concerns, I need to find a new tenant since they are moving out. Blocking off 10-14 days during this critical time could prevent interested parties from securing the rental. I suggested that they arrange for someone to be present for showings or that I, as the landlord, would ensure their belongings remain untouched during the process. I feel that Ashley's stance is unreasonable. According to the lease agreement, I have the right to show the property to prospective tenants, and the current tenants cannot unreasonably refuse access. What do you think? As I'm new to being a landlord, I'm looking for advice on options besides pursuing legal action.
NOTE: Name used is fake for privacy concern
You have given them reasonable notice and legally you may enter. Will it start a problem, likely but at the end of the day its your house and sounds like they wont be there much longer anyways. I would proceed with showings.
Post: Looking for an agent to help us in Stamford
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Quote from @Lawrence Okafor:
Thanks, Devin - Do you have colleagues with NY, NJ, & CT multifamily & hotel properties?
Hey Lawrence- i have a hotel to multi conversion here in Meriden, CT if you are interested?
Post: Section 8 | Connecticut
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Quote from @Jason Reider:
@Michael Doherty thanks for the advice! It's a 4 BR 2 bath unit in Manchester. Currently paying $1,600/month. From what I gathered, FMR is around $2,400-$2,600.
You are right- thats about what section 8 will pay- closer to the 2400 range.
Post: Avoid Revolution Properties LLC at all costs
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
@Rodney Lorenzo I am really sorry to hear this. I hear their name come up all the time (not in a good way). I do decent amount of brokerage sales in Hartford and it can be really rough in certain areas. I wouldn't let this deter you from future investments and I hope you were able to sell the 6 family.
Multi Family can be a great investment, I would recommend paying more for a multi in a better neighborhood and managing it yourself. If you don't want to self manage, interview 3 different managers beforehand and get current client reviews. If you need other management recommendations let me know.
Post: Section 8 | Connecticut
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
@Jason Reider nice job house hacking and already on your way to secure your 2nd investment property- good stuff.
Section 8 isn't necessary a bad thing. How far apart is the current rent from market rent? If you tell me the town the property is in and the bedroom/bathroom count and the current rent I can give you a pretty good idea of what FMR is. The good thing is that HUD Housing (section 8) will actually pay the most for an apartment vs a non assisted tenant. I have both section 8 and non section 8 tenants, pro and cons to both.
Bottom line, what I would do is increase rent to market price, and if they don't want to or cant afford it rip the band aide off and find a new tenant. Now if they can swing almost all of the rental increase and they are in fact a good tenant then keep them. But don't do slow incremental raises each year and it takes you 3-5 years to get to market.
Post: Seymour Duplex Rental
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
@Anthony Alvarez nice job utilizing your VA loan and house hacking. Are you open to anything 2-4 units for your next investment or want to stick to 2 families? I come across stuff all the time in CT of market, lets connect.
Post: retiring and wish to use 1031 exchanges to invest in syndications
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Hi Brynn - Congrats on working towards retirement! Where are you located?
Post: Eager to learn about buy and hold properties - any mentor availability?
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Hi Angi- Congrats on getting started on your real estate journey! I’m an agent and investor in CT and would be happy to be a resource to you.
There are bunch of real estate meet ups throughout CT that can bring a lot of value to you. @Stephanie Cabral and @Brandon Rush are two that run meetups in Ct.
Podcast & books helped me a lot when I first started in real estate. Id suggest Bigger Pockets and Skys the Limit - two podcast to check out.
Post: NEED HELP: Finding insurance for a small condo complex
- Real Estate Agent
- West Hartford, Ct
- Posts 444
- Votes 473
Hi - Justin Sloan with the Nesso Group has helped me with insurance in CT. I’d recommend you reach out to him.