All Forum Posts by: Samuel Eddinger

Welcome @Zach McKay. I'm a investor, flipper and property management company owner who specializes in central CT. Congratulations on your journey. If you want to build a large number of properties, get connected with local meetups. @Ryan Luby has a good one in New Haven already.

If you'd like to discuss anything further, I'd be happy to chat. DM me if you do.

Hey Sam, do you know where I can get more info on Ryan’s meet ups? I’m new to investing and would love to meet people in this group!

DM me so I can get your email and I'll see if I can forward one of the recent meetups so you can get on the list.

0 Votes

New Haven, Connecticut

@Jason Reider - it is not hard to increase the rent on Section 8 tenants during the period of year when you can negotiate rent increases. This occurs once a year and it is around the same time as the inspection of the property (usually two or three months before HAP contract end date). Sometimes the Section 8 tenant will fight it because they believe that it will increase their portion but this is not the case.

I run a PM company that has close to 40 Section 8 tenants. I'd be happy to discuss more. DM me if interested.

0 Votes

Hartford, Connecticut

Looks like a great event!

0 Votes

Hartford, Connecticut

@Jenete Okeke - it is very hard to go from no property to developing a bunch. I'd suggest if that is truly your goal to go about taking the necessary baby steps. These include getting connected and networking with other developers and real estate professionals in CT. I can vouch for CTREIA, and meetups from @Brandon Rush, @Devin Peterson, @Stephanie Cabral, and @Ryan Luby. Meeting people would be the start of living that dream of yours.

If you are interested in talking more, I'm always willing to have a conversation. DM me if interested.

2 Votes

@Javier Contreras - always happy to have a conversation. DM me.

0 Votes

Hartford, Connecticut

Welcome @Carlos Poveda. I'm always happy to connect with newer investors. I invest in long term properties, flip, and own a PM company. If you haven't already, I recommend you go to meetups with CTREIA, or meetups by @Ryan Luby, @Stephanie Cabral, @Devin Peterson, and @Brandon Rush. All are really good. I usually attend some of these events each month.

If you'd like to discuss any of this more, DM me and I'd be happy to connect.

1 Vote

Waterbury, Connecticut

Quote from @Tony Wilcox:

There are many contributing factors into why this is happening nationwide, and not just CT.

Carriers catching up to inflation (insurance lags behind inflation), and cost of replacing roofs/cars/houses.... It costs more now to replace/fix a car. Body shops are taking forever to fix them and car rentals are taking longer, which the carrier is paying for is just one example of many. Roofs are double what they used to cost 5-10 years ago.

They say there have also been more severe weather events. This means events that cause over $1B in damages. I am not sure if there are more events, or materials/labor just costs more for them to say it is a severe event. I posed this question to the head of Travelers personal insurance department at their HQ. He couldn't give me an answer on that!

Carriers cannot match what is needed to charge in certain states that limit what they can raise their rates too. This causes them to add restrictions, or just pull out of the market all together. If you are losing billions of dollars and can't match the rate required due to the state insurance department not allowing it, there is no need to continue business.

All coastal states have a possibility to be hit by a major weather event. You might think CT doesn't have any, but being on the coast there is always a change of a hurricane, or other severe weather events.

Many carriers, like Progressive, insure nationwide, and when severe weather events hit an area, it wipes out all premiums they had nationwide. This also causes them to raise rates or just get out all together.

Insurance also needed a reset after they were insuring homes at $700-1,000/year ($300,000+ dwelling coverage) with a $1,000 deductible. Think, how can they cover expenses insuring homes at this amount with a deductible the same as your car!

I know none of this will make anyone feel bad for the carriers, but they are a business and they are just matching what it costs to not lose billions of dollars.

I appreciate the insights!

0 Votes

Hartford, Connecticut

@Jacqueline Lynch - Let Rebecca Makas know I said hi!

1 Vote

Waterbury, Connecticut

@Matt Johnson - you are not alone. I've been dropped by Progressive as well. Some insurance companies like progressive also insure auto and other coverages so maybe with the increasing cost of RCV policies, they do not want to be so exposed? I'd love to hear more from the community about why this is happening to places that historically do not have crazy weather events like the Northeast.

1 Vote

Hartford, Connecticut

@Patricia C. - I highly recommend @Devin Peterson. He is local to our CT market so he is very familiar with everything to get closed.

1 Vote

Norwalk, Connecticut

All Forum Posts by: Samuel Eddinger

Samuel Eddinger has started 7 posts and replied 556 times.

Post: New Investor in New Haven, CT looking to Connect & Learn from Others

Post: Section 8 | Connecticut

Post: The NEI Real Estate Investor Meetup - April 2025

Post: looking for help planning how to build the development of my dreams (bonus if in CT)

Post: Starting a new venture

Post: New investor in Connecticut looking to connect

Post: What's Up With Insurance in Connecticut

Post: Hello! Newcomer just getting started.

Post: What's Up With Insurance in Connecticut

Post: Need a good mortgage broker