All Forum Posts by: Mat Daussan

Hi everyone,
Excited to be a part of the BP community - I've spent a lot of time reading passively through the forums and listening to the podcasts, and am at a point now finding my first deal!

A bit about myself...I'm currently based abroad but have family in the Westerly/Groton area of Rhode Island and Connecticut, which I call home and frequently go back to. My goal starting out is to find a multi-family (2-3 unit) that I can gain some experience with, and then build out my portfolio into eventually larger multi-family properties down the road. I've started to build out my team (agent, lenders, contractors) in the area and have now started looking for deals.

Would love to build up my network of real estate professionals and investors in the area - let me know if you are interested in connecting and/or have any meetups or other events to recommend there!

Mat

Hello BP,

I'm currently living abroad (US citizen, but no plans to move back in the near future), and I'm looking to purchase my first investment property in the US (primarily looking in the RI area as I have family/friends there and some knowledge of the market). However, after speaking with a local lender, they've informed me that at the moment they can't lend to borrowers whose primary address is not in the US (apparently due to recent investor defaults since COVID).

Is this an industry-wide practice at the moment? Or specific to certain lenders? I'd like to understand this a bit better before spending time trying to contact more lenders and getting nowhere. Any insights, or referrals to lenders that still would consider overseas borrowers, would be much appreciated!

Hi all,
I recently read the following article about how the US government is planning to market a ton of foreclosed homes as rentals and noticed the following comment in the article:
"Single-family home rentals can yield cash flows that are 300 basis points, or 3 percentage points, higher than apartments"

What are everyone's thoughts on this? Is this true in your experience in real estate? I've been under the impression that multi family units normally cash flow better than SFH units.

Here is the article: http://www.bloomberg.com/news/2012-01-31/foreclosures-draw-private-equity-as-u-s-selling-200-000-homes-mortgages.html

Any other thoughts on the article would be great as well

Do you also look at multi-family homes or focus solely on single family? Cash flow and/or returns can generally be better for multi-families, no?

What kind of property do you invest in in NJ/tri-state (if you do) based on this? If you don't mind me asking...

Are realtors usually willing to give out free advice like that, especially if I'm looking to get general info for investments in the future rather than searching for properties immediately?

Thanks for the help,
Matt

Hi all,
What are the best places to find information on a local RE market (specifically NY/CT/NJ)? For example avg rent, %renting vs buying, market trends, etc.

Thanks!