All Forum Posts by: Michael Doherty

 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. 

 Hey Lawrence- i have a hotel to multi conversion here in Meriden, CT if you are interested? 

 You are right- thats about what section 8 will pay- closer to the 2400 range. 

@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. 

@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. 

@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.

Hi Brynn - Congrats on working towards retirement! Where are you located?

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. 

Hi - Justin Sloan with the Nesso Group has helped me with insurance in CT. I’d recommend you reach out to him. 

Yes Sir- 

@Ryan Deasy please connect with Erik off line to discuss financing options.