All Forum Posts by: Rick Santasiere

Travis Welsh we aren’t super close to one another, but let’s connect on the phone some time in the next few weeks. Would love to network a little with you.

Joe Schmoe yes, this is done in Hartford, and being done successfully. There are certainly rules and some red tape. I’ve never met a true Joe Schmoe before. This is awesome.

Michael Pepe a great resource would be Brendan Griffin He’s knowledgable with investment property, owns several of his own, has some great successful flipping experience, and has owned and operated several other successful businesses over the years. I can certainly be a resource if you ever want to connect as well. Good luck!!

Mark Skaff welcome! Eastern CT us some great opportunity around the universities, if you stay focused on finding a deal. Please feel free to reach out if you would like to connect.

@Chantel Johnsonwelcome!  I am  broker/investor here in CT. Always willing to help. Reach out any time.  Hit up the podcasts, and webinars, and articles. There is a lot of great info out here

@Manuel Burgos, Steve had some great ideas. I am a small town shop with two offices in CT (Granby and Clinton), and I help people with this all the time. At least 50% of the agents I speak with, I refer out to the bigger shops for some of the reasons you mentioned about training. Some agents like working for my shop because they are self motivated, the don't want structured class room training, and they are looking for more of an investor focus (for themselves and the community) It sounds like you would do better at a larger firm, but I would make sure you let them know that you want to be an investor some day, and hopefully they can help align with your short and long term goals. I started at Coldwell in 2005, and the training was great, but there was not much for mentoring, or other agents being very helpful. I had to self motivate and teach myself how to be an agent.

Patrick Bartley feel free to reach out to me or Filipe Pereira any time for any assistance with CT markets.

Funny, this is in my area. Curtis James Jackson, AKA $.50 or FITTY CENT. He can barely give this place away... 51,657 square feet. 19 bedrooms, 19 full baths, 16 partial baths. Property tax= $131,585/year or $10,965/month or $365/day.. If anyone out here would like to see this one, please let me know though. I will simply need one of two things: POF or a Pre-approval letter :-)

@Timothy Jacobson, great question, and good to see you out here! This is always a double edged sword scenario. Bottom line is profits will get you loans easier, but you will pay more in taxes. Without writing a book (I like to keep it simple), if your goals are to look good on your balance sheet, you have to show lenders how "good you are" at creating a solid return on your investment. On the other side, you show break even (or sometimes losses), and have a higher cash flow (reduced tax liability), more potential capital of your own, but you risk commercial lender scrutiny. Personally, if I were to have the vision of scaling larger and quicker, I would show the strong balance sheet. How big and how fast you want to go, will be the true answer to this dilemma. Its an awesome dilemma to have my friend :-) Gotta love REI. Hopefully there will be a commercial lender on here who could give you much more solid advice to their field. If not, reach out, I have a commercial guy who is solid.

@Kadisha Ledford, if the deal is good enough, and you have the ability to attach multiple people (ie your brother) a decent HML will do the deal as long as you have the standard amount in the game. 25-35% of purchase price. If you have any questions or would like to get my thoughts, feel free to contact me. I am pretty well-versed in values and ARV's in this area.