All Forum Posts by: Vinny Lopes

@Johnny Rhee @Aditya Namjoshi@Carlo Medina Thanks for your message and just sent you a couple of pictures by e-mail, then you can see the current condition of the property.

Investors: Collect $ 2100 in gross monthly rents 

Property Highlights:

• 2 Units
• 6 Beds
• 2 Baths
• 1,824 Sq. Ft.
• 5,000 Sq. Ft. LOT
• Year Built: 1989
• Taxes -$4,000
• Cash Deal - Off Market
• Asking Price $79,900
• Rehab Cost - $40K
•  Cap Rate: 13% 

Sold in "AS-IS" condition.

Contact Vinny at [email protected] for questions and offers.

@Brieer Doggett If you have enough knowledge to buy it right and have a good deal, I'd say you should jump in as your investment return may help you pay off your debt. Use the BiggerPockets calculator to play the numbers, try to get a local mentor to guide you thorough the process and go for it. Good luck!

Hi @Ilmar Molder Welcome to BP! I am a CT investor too and if you think to expand to the Fairfield County; especially, in Bridgeport, Stratford, Stamford, etc, please let me know as I have a great team and always new deals coming in. Furthermore, I know the market very well and have seen consistent growth over the years. 

Although I do property management for my own houses, I like to recommend @Craig Bellot to manage other properties, as he is very professional. 

Good luck and feel free to contact me anytime.

@Sharon Tseung  I suggest that you also look into whether you are going to “Buy and Hold” or “Fix and Flip”?

Additionally, if your intention is to purchase rental properties and hold them for a longer period of time, then you do not need to worry about the market being crashed. On the other hand, should you decide to go with the “Fix and Flip” option, then you will need to have a good team that understands business with strong boots on the ground.

Moreover, you should evaluate the supply and demand trends within the area you intend to invest in, as the market can sometimes shift or fluctuate. While the conclusions of your research is a start, you should also research my recommendations before investing out of state.

With that said, if your thoughts expands to the Northeast; especially, in Bridgeport and/or Fairfield County in Connecticut area, please let me know as I have a great team and heavily invests in that area. Furthermore, I know the market very well and have seen consistent growth over the years.

Thanks and all the best!

Hi @Michael Garofalo I have to agree with @Mark Fries. If you think about it as a long term and there is no leak at all as you said, I would wait, unless the insurance company asks you to replace it. Needless to say, roofings usually last more than the estimate time, thus, if you think that it might last 2 years, it end up lasting 5 years, in the meantime you can collect rents to pay off the roofing and maximize your cash flow.

Hi @Roman Ustoyev Regarding this matter, you really should consider consulting an attorney, they know better. I have some attorneys to recommend from CT that also practice in NY. 

Hi @Julius King If you want a good one in CT area, I will recomend Lou from Santander Mortgage. Please, send a PM to more contact details.

@Don Turner Do you need a hard money lender or conventional mortgage lender? I can recommend some lenders too, please PM me.

The best way is to diversify your investments; it is too risky to put all your savings in just one place. The richest people in the world invest part of their fortune in the real estate. Maybe you can inspire her to invest in RE telling successful stories. Ask her to read about McDonald’s story, the CFO's of the company even quoted as saying  “we are not technically in the food business. We are in the real estate business."