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All Forum Posts by: Steve Puglisi

Steve Puglisi has started 11 posts and replied 25 times.

Bought a house down the CT shore trying to decide if I rent it myself (via VRBO ABNB) or give it to an agent who has area expertise (and multiple rentals).  This is my first year owning the house, high demand area. Looking to set it more for weekly rentals (not one or two days).  Its about 45mins from where I live. Agent takes 10% of the rental and I think she takes care of getting the rental agreement signed.

Any experience with either? pros or cons? thoughts?

Post: Ideas for off market deals

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

Anyone have success generating off market deals and what avenues did you use?  I'm thinking of neworking via estate attorneys, bankruptcy attorney's, maybe divorce attorneys  in my area.  Thoughts or suggestions?

Post: Family Lending Mortgage Servicers

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

Any one know of companies that provide family lending mortgage services?  I'm looking for competitors to the National Family Mortgage company? Or have you seen any interesting articles on the subject?


https://www.nationalfamilymortgage.com/lend/purchase-a-home/products/

A few questions on the BP Rental Property Buy and Hold Calculator;

Why does the Cash on Cash ROI return increase over time? Rent increasing assumptions?

How is the Annualized Total Return Calculated? and why does it go down over time?

Is there a reference document on BP somewhere for this "Analysis Over Time" section?

Post: 4plex multifamily lender in CT

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

Hi all, 

Close to purchasing on a 4plex in CT but need a lender.  Property is a 4plex but part of a condo association which make the loan less conventional.  My credit and income history are very good. 

Can anyone suggest a local bank or lender in the greater Hartford area for a property like this?  Looking to put 20 to 25% down. 

Thanks!

Post: Seller financing incentive to sale?

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

@Derek Dombeck interesting idea, thank you. If I had an 80k balance in an Roth IRA could I use that somehow,without penalties?

Post: Seller financing incentive to sale?

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

@Tracy Z. Rewey thank you. Great idea with the 0% note. Prices in CT are pretty flat so with minimal appreciation expectations how does that impact the decision.

Post: Seller financing incentive to sale?

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

@Jaysen Medhurst, great suggestion! I didn't even think of a 0% note. I have a line with 100k availability, plus 50k savings but am hesitant to invest it all in one property as I would be tapped out. This would be my first rental but I have done extensive research and have a friend who owns the same property, they are indivdual 4plex that are party of a condo community. Banks would lend at max 75 LTV.

Post: Seller financing incentive to sale?

Steve PuglisiPosted
  • Wethersfield, CT
  • Posts 25
  • Votes 8

 I have a property that I am looking to purchase, the property is fully paid for.  The seller is open to seller financing (a portion) but we are about 20K to 25K off on price.  I'm at 275K the seller is at 300K.  The seller wants their equity back to reinvest in more properties.  I was thinking we could offer $280K, plus the seller takes an 80K note at a high rate say 6% to 7%, amortized over 10 years with some type of option on his end, say he could call a big portion in 3YRs or 5YRs.  I have the cash to put down 30% to 40% of the purchase price if needed.

Any thoughts or ideas you can suggest is appreciated! Any upside or downsides I'm missing?