All Forum Posts by: Steve Faucette

the way that Kitchen cabinet companies work is that they want a deposit before measurements than they supply the layout, just make sure you like there prices first, so you don't loose your deposit, some will ask for 50% of cost upfront, you tell them what you will pay as your deposit. Ask if there price includes Installation., if you have your own contractor to install....you properly can save a few hundred. As far as Rehabbing, dont cut corners on a contractor, get everything in writing and you want a contractor whom has a team of guys that can get the job done, and in writing get a time line, input in the contract of not on schedule they are penalized, by a deduction in payment....hopefully that helps....i just completed a full duplex apartment in about 70 days.... 

Will do, 95 % completed.

I wouldn't advise this.

if, you really want updated information on what's going in the Real Estate world listen to, very informative information, a must listen to podcast.

converting it into 4 large rooms, with a kitchen on each floor. Purchased from a foreclosure Company that purchases distress properties from Wells Fargo. This Company sells property's all over the US. they Purchased it from Wells Fargo for 11K, i purchased for it from them for  14,900K., currently don't have note. Converting into rooms for rent, renovation ongoing now. will rent out each room between 500-550 a month everything included. Connecticut.

Your slogan is from Hind site!.....everyone learns on Monday morning! after the highlights.

I lost money, by being Cheap, not using the proper Contractors, spend in the money in the beginning and hopefully you'll come out ahead...…had to bowered 80K of hard money to go over everything pretty much again, new roof was 10K, new windows 3K, HVAC work, plumber, etc. hopefully this helps. Lesson learned, make sure your contractor has a team of guys, that the key. 

good luck, you should do well, just have integrity and honesty, don't take advantage of the weak!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Waterbury.

Purchase price: $132,000
Cash invested: $45,000

Just closed on a three family 9 beds 3 bath mulitfamily.

What made you interested in investing in this type of deal?

muliti seems the way to go especially, if you cant afford commercial real-estate, i am building my small portfolio over time....in 2017 i Purchase 3 Properties in one year, too me is an amazing feet.

How did you find this deal and how did you negotiate it?

i search all the MLS sites, i also purchased a SFR in an TAX Auction in the state of Connecticut. still own it and renting for $1400 a month.

How did you finance this deal?

tax auction

How did you add value to the deal?

well, every year someone is asking me if i want to sell it, it was a very desired home at the auction.

What was the outcome?

i won the auction!

Lessons learned? Challenges?

don't let your ego get in the way.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Bankcorp financial.....the middle man to get you the money.

Investment Info:

Single-family residence fix & flip investment in Waterbury.

Purchase price: $64,000
Cash invested: $42,000
Sale price: $166,000

lost money in the deal