All Forum Posts by: Travis Lloyd

Excited to see everyone that can make it!

Take a look at August.com - their remote door bell (with camera etc) can be paired with their smart lock. Tenant can ring the door bell, you can see them, and then grant them access via their cell phone.

Talk to your builder... if you want to keep it economical, and you're using a builder who has been active in the area (hopefully you are), then they will have a few plans and/or architects that they have already been working with. You can take one of their more common "builds" and make a few little changes here and there (move interior doors, non load bearing walls, the simple stuff) so that its not a total cookie cutter. And your builder along with all of his subs will already have the pricing down. Less guess work = less built in oops factor. Good luck!

John is absolutely right about the legal limits in CT. Sorry - my "triple the deposit" was meant to illicit making sure it was sufficient to alleviate your concern (plus the rules were a little different in NYC and I sometimes forget!). Two-times rent is the largest amount allowed in CT, and that doesn't matter how you term it. So you cannot say "two months security, plus first month AND last month" because that "last month" portion also counts under state rules. But pairing a full 2 months' security with a sufficient increase in the monthly rate (therefore increasing the security accordingly) will help.

In the state of CT, any contract that doesn't explicitly specify that it is not assignable, is assignable. With that said, most of your investors (and their attorneys) will be much more comfortable if the contract has some sort of language specifically stating that it can be assigned.

Not sure about rules re: advertising. Would suggest that marketing the specific address online might not be the best route for you to take regardless of the laws.

Welcome @Sima Honarbakhsh you will love BP... it is a wonderful community where people actually help one another - a true rarity in this industry.

What areas are you looking to invest in? What types of property would you be most comfortable investing in (Single Family Homes vs. Multis)? The answers to such questions will help this community be of greater service to you! Let us know what you're looking for, and what you're comfortable doing - would you like to buy something that is falling down and rebuild it? Or would a turnkey property be a better fit (someone else renovated AND rented it first).

You should be certain to come to the next meetup hosted by @Jonathan Makovsky in Fairfield - all of us Fairfield County investors do our best to be there. It is normally the last Wednesday of every month, but with the upcoming holidays, meetings have been postponed until January.

Welcome again

@Mike Moles 

@Adam Negri is a TREMENDOUS real estate agent (broker actually I think), who just so happens to also be a solid player in the fix 'n flip business as well as long term buy and holds. And Danbury is his bread and butter. Look no further, you will NOT be disappointed. Seriously.

Hold on for a second, you have some wildly different angles on this, and its not fair (to YOU) to lump them all together.

You ABSOLUTELY need her name on the lease, and not her husband. If she will not do that, you could make it a commercial lease and lease it to her (apparently legitimate?) company! Surely the company has an EIN, tax returns, assets, etc. Lease it to her company if not her, but her name would still need to appear on the lease as Manager/Member of the LLC.

Background checks / credit reports - those are usually must haves. With that said, if she has no SSN, the credit report will be blank (they don't track ITINs) and the background check will be based on her name (probably something rather common and therefore difficult to prove that it is or is not her). How do we compensate for this? CASH.

Offer to lease the place to her with her EIN and require tax returns... second choice, lease to her business (but get her name SOMEWHERE) on that lease... triple your normal security deposit... add 15-20% more to the rent... and make sure everything clears before you hand over a check.

Do you know why people with ITINs are GREAT tenants? They have a difficult time finding landlords who will work with them (as evidenced by all of the posts above). So they rarely move when they find someone who will, even if they have to pay a bit more. So all you really need to be sure of is their employment/income. Specifically when it is a single person - these are some of my favorite tenants because of long tenancy, reliable payments, and respect for the property.

@Matthew Laggis welcome to BP! Its a wonderful community. Welcome to Bridgeport (I'm in Black Rock) and please add me to your buyer's list. I'm good for 2 properties +/- a month

@Vivian Hernandez it is always the last wednesday of the month, so the january meeting will be on the 28th.

I am trying to nail down a date to host the "intermediate meetup" as it is being termed. Jonathan will send out the announcement once I work out the date with Anna Liffeys. I'm aiming for December 2nd, but keep watching for updates