All Forum Posts by: Seth Alexanderowicz

Hey guys recently picked up a single family house that had a 700sq foot in-law appt. I have finally got everything approved to be a legal ADU with separate addresses. And Separate utility's. Now my first thought was to go with long term rentals 1100-1200 a month easy for the area and condition of appt. Now someone gave me the idea of short to medium term rentals with healthcare workers. Located in Manchester CT. Central CT located near. Hartford. UConn Heath. And with the recent news about Yale new haven hospital buying out Manchester and Rockville hospital. I'm am more inclined to go down this route. More $ ovi more work and upfront capital to furnish the place. Tips ? Pros ? Cons ? From anyone with experience with this. Please and thanks in advance for any information.

Hey so I recently closed on a property that has a in-law appt on it. Was doing my homework and it meets all the qualifications and have called the town to make sure I was able to do it and they said yes. Next step is to fill out a application/ building permit and suMmit floor plans to try to get it registered by the town to legally be able to collect rents from it. (Guessing previous owners only had family in there so they never had to register it.) just curious if anyone else has xp in this and how long the process takes please and thanks. 

hey everyone I have a question about acquiring floor plans for a house and summiting them to the town. I found a house with a really  nice in-law apartment built on and originally thought was to turn to multifamily. called the town said it would be possible. he also said something about a dwelling unit that is a way quicker process to pursue. as long as I meet the standards like parking egress etc.  i just really need to figure out now is how to get floor plans ? can I make them? and say if I do got to add or knock down a wall how would I get proposed floor plans  from a contractor? can I make them? please and thanks in advance! 

Planning on living in half and renting a room out.for 5-600  I was really just runnin the numbers as if I had both occupied. For 1400. 

Listing price 280,000

Offer 295,000

Average market rent 1400-1500

Income 2800

Expenses. 1400 Mortgage. 450 property tax. 200 insurance. 35 water. 100 vacancies. 200 repairs. Total = 2350-2400.est monthly expenses.

Conventional loan 20 % down.
59,000 down payment

10,000 closing cost.
10,000 new roof. 25 year old roof.
total money down 80,000

6% cash on cash return plus I’m building equity in my house plus gaining tax benefit's from depreciation ect. This is my first property I’m currently in CT where I have stable job and family around. I’m not totally draining my cash reserves incase a correction does happen I’ll have some capital to deploy to off set buying at a higher end market. I know we are in a hot market but what do you guys think I would love some advise. Am I missing anything ? Please and thanks in advance. First property btw

Listing price 280,000

Offer 295,000

Average market rent 1400-1500

Income 2800

Expenses. 1400 Mortgage. 450 property tax. 200 insurance. 35 water. 100 vacancies. 200 repairs. Total = 2350-2400.est monthly expenses. 

Conventional loan 20 % down. 
59,000 down payment

10,000 closing cost. 
10,000 new roof. 25 year old roof. 
total money down 80,000 

6% cash on cash return plus I’m building equity in my house plus gaining tax benefit's from depreciation ect. This is my first property I’m currently in CT where I have stable job and family around. I’m not totally draining my cash reserves incase a correction does happen I’ll have some capital to deploy to off set buying at a higher end market. I know we are in a hot market but what do you guys think I would love some advise. Am I missing anything ? Please and thanks in advance. First property btw