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All Forum Posts by: Robert Harlacher

Robert Harlacher has started 5 posts and replied 29 times.

Post: New member from Connecticut!

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5

Welcome to BP. This is definitely a great site to learn about Real Estate investing

Post: August 11th. Danbury, CT meetup Molly Darcy's Irish Pub

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5

Count me in also

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5

I've been looking into the LEAP program with the Connecticut HDF that works similar to an FHA loan but is specifically for multi-family properties. I signed up on the website and started talking to one of the reps but was just wondering if anyone here has had any experience in working them. Has anyone in the area, or in CT , used them for funding their deal and can speak on the experience ? Looking for opinions on how the process worked or didn't work.

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5

I would be interested as well

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5
Originally posted by @Stanley Kallas:

Hey there

I love your idea keep excited about real estate! Keep reading this site and any good book you can find. It's really important. If you can make it out to some local meets or talk to real estate investors to develop the mindset necessary.

Danbury is a great market but it's slightly over priced this year (and last) not sure if it's a micro bubble or not time will tell.

It's important to find a good mortgage lender that you can bounce ideas off of and develop a concept of how much you can afford, how much closing costs are and all of that. With that in mind you can have a number in mind as a goal to save up for. Which I think is critical

Good luck go slow but keep moving forward

Hi Stanley,  Yeah prices seem a little over my reach at this point but it won't stop me from looking.  Danbury is where I wanted to start in order to stay local for my first purchase.  Even the surrounding towns would work. 

Is there any local meet ups in the area?  The one I see most people recommend is out in Fairfield which can be hard for me to get to given it's an hour away. 

Any mortgage lenders you could recommend?  That was one of my thoughts as to which should come first, getting pre approved for a loan first or look around for property first. 

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5
Originally posted by @Mark Avery:

Hi @Robert Harlacher

Those are good reads.  I've gone through them a couple times and always pick up on something new.  I saw your question about which comes first the property or the financing.  By no means do I have the definitive answer but I have a few thoughts.  Instead of typing them all out would you be up for a cup of coffee and talk through some options?

Absolutely. That would be much appreciated. 

Post: Connecticut Brain Dump

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5

Hi Neil, I'm also in Danbury and know what you mean about it being hard to find a good deal in the area. I've been expanding my search little by little but it seems Fairfield County in general is somewhat difficult for multi families.  Buy and hold is also what I'm looking for and start out by house hacking

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5
Originally posted by @Lisa Beauchamp:

Hi Robert,

I bought my 1st house in Southbury with 1% down and that was applied to closing costs at closing. Check out the Housing Development Fund in Danbury (link below). Was better than an FHA, no PMI, and rates were 2.75% about 3 years ago. I have seen a couple of multi-families in Danbury but they were a lot of money. Keep looking though and don't give up.

 Hi Lisa, yeah the high prices are making it seem out of my reach especially since I don't have much to put down. I'm checking the  surrounding areas also though in hopes that I find something reasonable.  Maybe checking out foreclosures would be another option

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5
Originally posted by @Harrison Harner:

@Robert Harlacher

It's a duplex. I live in one side and rent the other. 

Based on my experience, I recommend not using a realtor and finding a private sale.

That's exactly what I'm looking for. I feel my options are limited by only looking on MLS sites which is why I was thinking about a realtor. Did you find them difficult to work with or not helpful?

Post: New Member from Danbury, Connecticut

Robert Harlacher
Posted
  • Danbury, CT
  • Posts 29
  • Votes 5
Originally posted by @Mark Avery:

Hi @Robert Harlacher

Right now we focus on Fairfield and Litchfield counties, although doing our due diligence and looking to branch east soon.  I completely understand buying local first.  What are you reading now?

 Currently I'm reading 'The Book on Rental Property Investing'. Almost done with it and then I'm going to get 'The Book on Managing Rental Property' to get an idea of what that actually entails. Thinking about getting the one about low or no money down investing since that's my biggest hurdle at this point. 

As far as what to do first, would you say looking for a potential property is the right move or should I get pre approved for a loan first?