All Forum Posts by: Nick Frostbutter

@Mckenzie Jean congrats on your first property! How was the FHA loan process? I have used a VA loan before, which I imagine must be at least a little similar

@Matthew Olszak I'm curious. After you send their backlog of rent or damages or whatever the case may be, how does it typically take for them to pay it off? Or even find out about it going to collections?

Fortunately, I have never had anything sent to collections before so I have no frame of reference.

@Sebastian McCall Congrats on your first rental! How long have you had the property for now?

@John Corey it is true, I am a Submariner who will be working on the Sub base there in Groton ,CT. As far as it being the biggest I'm not so sure. I know Norfolk is pretty big up there and has around the same amount of submarines.

But Groton is also one of the few places they actually build a lot of the submarine parts and systems. Especially since Electric Boat company is there.

@Andrew Syrios thanks for the welcoming!

@Mat O'Grady awesome that there is a local meetup. I can't wait to attend!

@Michael Spittler thanks for reaching out too! That's very cool that you invest and have a separate business.

My move will be though the military. This will be my second one. The first one was, well let's say interesting. I'm sure you know! What branch were you and what did you do while in?

Hows the contracting business going for you? What areas do you invest at?

@Jaysen Medhurst thanks a lot! I would love a great recommendation for an agent. I'll message you. It would be great to talk shop about the different areas in CT

Hey everyone,

I am a newer investor moving to the Groton, CT area in the next 6 months or so. I'll be leaving the sunny Hawaii to do so. I know, I know. Why would anyone want to leave Hawaii for Connecticut. In short, work.
I look forward to meeting other investors from the area and hopefully soon introducing myself in person!

I currently am currently living in a 1 BR/ 1 Bath condo that is a live and flip. I already have a buyer lined up and should be selling it soon. Looking forward to expanding to small multi-plexes when I get to Groton. I am hoping to find a nice duplex or triplex and get started on a house hack. Then slowly building a nice rental portfolio. We shall see what happens!

@Neal Martin From my understanding, yes that's the idea. It can be a way to sort of break up the cost for a buyer I guess, but most likely will lengthen the entire time it may take to to own the property free and clear (assuming you do in fact buy the fee). You could take out separate loans for the leasehold to begin with, then a new loan later for the fee when you purchase it. 

I think you can only purchase the fee at the expiration date, but I could be wrong.