All Forum Posts by: Tyler Hespeler

@Jason Arcuri I'm glad you say that, I have analyzed a few properties with 2% rule and nothing seemed realistic, and I remember reading that that rule only applied to certain markets. I will continue to research some more properties. Have you ever found something that doesn't pass the 2% or 50% rule, but once you crunch the numbers, the ROI works? Or do you tend to shy away once those rules aren't met? The first question I plan on asking any realtor would be if they have had any experience in dealing with investors. Thank you.

@Anthony Thompson thank you for the feedback, that was very helpful. Based on all the responses so far here, I think I will dive in a little deeper to my local market and see what I can find. As you said, make sure to establish some connections, my wife and I purchased our primary residence this past summer and we have made a good relationship with our closing attorney and realtor. I’ll still keep RI in mind and I will be sure to reach out if decide to pursue it. Like was, feel free to contact me if you decide you want to invest in SE CT!

@Charles Carillo thank you. I used to go to school at CCSU and rented two houses while I was a student there. Do you have a high turnover rate with all the college students or do you try to avoid students when screening for tenants to get a more long-term renter?

@Kyle Campbell thank you. I definitely don’t see myself getting into anything above 4 units to start out with. At the moment I am focusing more on small multi-family or single family rentals. Have you had better luck with a certain one in this area? I see you work out of Groton, I would love to chat. Thanks

@Jason Arcuri thanks for the feedback. I have penciled in on my business plan for a single or small multi-family between $100-150k that cash flows. My goals this year would be to learn as much as I can, make some connections, and land a property. My wife and I bought a house last summer that we are fixing up to eventually rent out, and we do have a few connections with closing attorneys and realtors. Ultimately, I would like to achieve financial freedom by the time I’m 40. I I’m glad you said the CT is more of a cash flowing state, because I would be in it for the long haul just as you are.

Hello Everyone,

I am just starting my buy-and-hold investing career and I am located in southeastern Connecticut.  I have done some brief market research and I believe the local market I'm in, the Groton/Mystic area, would be a good place to start.  It is home to two casinos, Electric Boat, a Navy Sub Base, and a National Guard Base, so the potential for future renters is promising.  However, Connecticut as a whole is seeing a large population decrease as people are leaving the state to avoid high taxes, and there is fear in the speculation of adding tolls to our highways.  I do live about 30 minutes from the  Rhode Island line, so I am wondering if it would be a good idea if, as a new investor, I spent some time researching Rhode Island markets.  Has anyone had any luck beginning investing outside of their home state?