All Forum Posts by: Rick Santasiere

Joe Morelli welcome to BP. There are also meet ups in Manchester and Rocky Hill/Newington monthly. Reach out and I can connect you. We meet monthly for both and there is always some great info that comes out with no selling pressure. It’s just like minded people looking to connect. I run a real estate brokerage in the state, and also invest here too and would be happy to share my experience. Hope to see you soon!

Rafael Fontan . There are other lenders who offer 3.5% down to First time homebuyers without using FHA. You can get a conventional loan on homes likes these. I always get frustrated when I hear stories like these when buyers lose out on something not knowing that there are other programs out there that could have gotten the deal done. I would be happy to share my experience with you.

Colin Stuart awesome idea. Count me in. Always looking for opportunity to network and help one another advance their holdings. Please share group when you create it!

Sammie Reynoso welcome! We just sold a 4 family in willington (6 miles from Storrs/Uconn) and work with a lot of investors in Tolland and Hartford county. Feel free to reach out, and I would be happy to share our experiences.

@Jeffrey VanGilder. I believe you and I have met before to discuss licensing and brokerage. I think it can make sense to use a license to aid in the REI, and align yourself with the right broker who is ok with that. The problem though being in the field you are in, is that you will never be able to "take on" a certain # of clients AND keep your job. Buyers and sellers want to work with full time real estate agents, and if you are working with client, and are not as responsive as todays consumers expect you to be, you could jeopardize your own credibility, and the brokers/agencies. I started part time and did so for a number of years, and never truly allowed myself to "expand" beyond what I knew I could handle, which is fine, but the true growth and learning comes when you decide to jump full time. I, too, had a few investment properties, that made leaving my job work. I had about 35-40% of my salary from my job in RE income, and that was enough for me. Your number will be different I am sure.

If you want to grab another phone call next week for 15 -20 minutes, please reach out to me privately and I will be happy to share some more with you. Huge decisions to make, and being too conservative will hurt you, and taking on too much risk with a newer family can do the same. I have been there, and I have come out the other side...

@Jerel Lyons. I think you should do some more research on the legalities of what you are doing in your state, and ensure that you are allowed to do what you are doing. In my opinion, you should not be marketing a property for sale that you don't own (or are hired to as a licensed agent). While wholesaling is legal in some states, I don't think that you should be engaging in your "first deal" without some more expertise in your pocket. Try and find some people in your market who might get a coffee and help you out a bit. 

The consumer will always need to be let into property and there will always be the need for sellers to maintain a level of privacy from the “consumer.” With that said, there’s a lot of great thoughts out here, but “disruption” will always, and has always been he way in which we, as a culture ultimately get better at doing things. As a real estate broker, I can guarantee there will be a major shift in what types of services the consumer expects from realtors, and the “disrupters” will fail, then others will learn and do it right. I’m ready for change, and I welcome the disruption. In the end though (and someone already mentioned it), relationships and trust are what drives people to make life altering decisions. Most realtors (who are good) make it a point to be of service and share their expertise to ensure their clients keep coming back, send referrals, and continue to expand their reach.

@Heidi Kenefick we are still experiencing some great returns in CT in certain areas. You asked about Hartford area, so I will stick with that for now. New Britain, Bristol, East Hartford, Manchester, and some parts of Hartford still work. As you delve into specific areas, you will certainly want to do your due diligence and get some boots on the ground to assist you. Competition is rising, and the MFR market in CT has gotten pretty strong, with out of state investors pushing values up, and cap rates down in some cases. Reach out privately any time and I would be happy to share my experience.

Coming soon! Two WEST HARTFORD MULTI FAMILY homes! One is a 2 family with 2.5 stories with 5 bedrooms and over 3,000 square feet (Boulevard), and one is a 2 family with 2 bedrooms each and 2,400+ square feet (S Quaker). Please let us know if you know anyone looking. Larger one most likely $399,900, smaller one $329,900.

If you would like more information, please email me and as soon as they sellers go live, I can reach out to you.

Coming soon! Two WEST HARTFORD MULTI FAMILY homes! One is a 2 family with 2.5 stories with 5 bedrooms and over 3,000 square feet (Boulevard), and one is a 2 family with 2 bedrooms each and 2,400+ square feet (S Quaker). Please let us know if you know anyone looking. Larger one most likely $399,900, smaller one $329,900.