All Forum Posts by: Michael Young

I am looking for advice from people from Connecticut. I was under the impression I would be able to purchase a 4 family as an owner occupied with only 5% down. I don’t qualify for first time home-buyer. Am I wrong? Also does anyone know if I were to buy as an investment what the lowest down payment would be? I have enough to put 20% down but don’t want to sink all my savings into one deal. I currently own a condo also if that makes a difference. Thank you

mistake in posting this post

Hey Northern Ct. Members what would you do to hit a homerun deal? Here is my scenario, my investment partner has about 19 acres in East Granby free and clear. Formally farmland but can be used for residential property. I would say half is wetlands. A lot of the property is wooded land. Whats the best way to get the most ROI? I have about 10k to get something moving

@Michael Noto and @Derrick Gatling I did a drive by inspection of the property. They definitely put up the glamour shots on the MLS. One part of the roof has a tarp over it and the cornerstones of the foundation are sliding off among other issues I could see from the outside. Even with my low experience in real estate I can see the asking price is way off. Definitely way beyond my skill set. Thanks for the heads up to look for prior code violations with the fire inspector so I don't inherit those. I will keep that in mind when I finally find the property I pull the trigger on.

I am looking at a 7 unit multi-family in northern CT. Current owner inherited the property from her father. Currently the property does not have a sprinkler system. If I were to purchase this property would I have to update the fire system with sprinklers? Fire doors? Anything else?