Hey There! Soon to be Grad, looking to get my first property

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Hey There! Soon to be Grad, looking to get my first property

Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes

Hey Y'all!

My name is Filipe - I'm in the process of finishing up graduate school and have some savings set aside to get into a fairly decent multi family. I'm thinking 2-4 family. I am from Windsor CT, and am pretty excited to see that there are a mix of you in and around the 06095 area. 

I'm looking to stay under 200K buy in. This figure allows me to put enough down to avoid PMI, while still getting a nice enough property. I'm looking in the Manchester, Vernon, Windsor, Enfield areas. Possibly Hartford (but it would need to be in a really good area). This is my first property, and although I could live in at home in Windsor, I am not opposed to doing an owner occupied if it is worth it. I am also NOT opposed to S8 tenants. My eyes are on properties that bring in 2400 +/- a month, has an all in cost under 200K and is basically turn key.

I'm excited to be on BP, I've spent a few hours watching their youtube videos today. :)


Thanks everyone!

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Meghan Reed
Investor · West Suffield, CT · Member since 2013 · 106 posts · 42 votes
10y

Hi Filipe,

Rick Santasiere is a great resource.  I'm sure he can help you find a deal.  One just came on the market today - 104 Maple Ave, Windsor that doesn't look too bad.  $100k for a 2 family.  It looks like it may need a little cosmetic work but nothing major.

Good luck in your search!

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  • Trexie E.Pro Member
    BiggerPockets Support · Davao, Davao del Sur · Member since 2015 · 937 posts · 163 votes
    10y

    Hi @Filipe Pereira,

    Welcome to BP! 

    This is a great place to find information and contacts that can help you move forward with successful deals in Real Estate. You may check out the nearby members and network https://www.biggerpockets.com/meet, it will help you a lot find partners that can help you out in investing.

    BiggerPockets
    0Reply
  • Michael Noto
    Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    10y

    Welcome to BP @Filipe Pereira

    Always great to see other CT residents on the site. 

    I am familiar with the towns you mentioned that you will be targeting so if you have any questions as you get started please do not hesitate reaching out. 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    Thanks folks!

    0Reply
  • Bhekizwe M.
    Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes
    10y

    Welcome to the site @Filipe Pereira

    you find contacts who can assist you locate that first multi family and other relevant resources

    All the best

    0Reply
  • Jill DeWitPro Member
    Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
    10y

    Hello @Filipe Pereira and welcome to BP. BP is a great place to connect with other real estate investors while finding the answers you are looking for on real estate. I wish you best of luck. You are not alone in your real estate ambition. 

    0Reply
  • Rick SantasierePro Member
    Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
    10y

    Welcome @Filipe Pereira. Awesome that you have made the leap into REI!! I just sold a turn key MF in Windsor (on Fanueil Street) last month!! Solid returns for my client. Tenant is paying ALL but $250/month on a two fam!! Reach out any time. You can reach me on my website or my BP page for contact info. Good luck and call any time.

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    Reaching out to you now @Rick Santasiere!

    0Reply
  • Meghan Reed
    Investor · West Suffield, CT · Member since 2013 · 106 posts · 42 votes
    10y

    Hi Filipe,

    Rick Santasiere is a great resource.  I'm sure he can help you find a deal.  One just came on the market today - 104 Maple Ave, Windsor that doesn't look too bad.  $100k for a 2 family.  It looks like it may need a little cosmetic work but nothing major.

    Good luck in your search!

    1Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    Good eyes @Meghan Reed. Both my father and I are looking for properties, actually. He's looking for something that might need a bit of work, as long as he can get a good price. Thanks for the lead!

    1Reply
  • Alexis Davis
    Investor · Bloomfield, CT · Member since 2016 · 5 posts · 0 votes
    10y

    I grew up in Windsor.  Currently own an single family in Bloomfield, and looking to start MF investing in Hartford county.  Your thread helped!  I plan to reach out to @Rick Santasiere soon!  Good luck @Filipe 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    Thanks. Good luck!

    @Alexis Davis

    0Reply
  • Rick SantasierePro Member
    Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
    10y

    Hi @Alexis Davis! Looking forward to meeting you soon! Do not hesitate to reach out (even if it's preliminary). Sometimes starting the process early, can get you more "dialed" in to the market and what's happening in each town as you start to navigate through which areas you want, what price points you are looking in, and overall what your expectations of a property are. Call, email, text any time. 

    0Reply
  • Raymond B.
    FL · Member since 2009 · 2k+ posts · 357 votes
    10y

    @Filipe Pereira,

    Welcome to the Best Real Estate Site on the Net.

    It is always nice to see another Ct., Resident in the forums.

    Click on the “Education Tab” at the top of this page, and you could be spending many hours on the Information that is available.

    Raymond

    0Reply
  • Phelim Lennon
    Investor · West Hartford, CT · Member since 2015 · 37 posts · 18 votes
    10y
    Filipe Pereira welcome to BP! I just started being active on here the past week although I signed up months ago. Great to see yet another motivated CT RE investor. I started in this the same way you intend, buying a three family and owner occupying it. My property is in the Black Rock section of Bridgeport, Fairfield county. Have since moved out and added a few more properties to my portfolio. Would be happy to answer any questions you have and if want to meet up and grab a coffee let me know! I live in West Hartford so right around the corner from you.
    1Reply
  • Rick SantasierePro Member
    Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
    10y

    It's so awesome to see all of this activity in CT with newer REI's and newbies, and overall a supportive way for us to chat. This is great all! Let's keep everyone posted as to our happenings!! I close on a 4 family tomorrow, and I plan on doing what @Michael Noto has done with tracking the project, and sharing all the successes (as well as all the challenges:) with this particular project!! 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    @Phelim Lennon Sure thing! always looking to meet more locals. My best friend lives in WeHa, so I find myself there often. Lets get in touch once I graduate.

    0Reply
  • Phelim Lennon
    Investor · West Hartford, CT · Member since 2015 · 37 posts · 18 votes
    10y
    Filipe Pereira sounds good, let me know! Rick Santasiere I agree I am already getting some amazing information and meeting great people after 4 days of posting on the forums! Very interested in hearing more about your 4 family, where is it and how do the cash flows look for you?
    0Reply
  • Rick SantasierePro Member
    Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
    10y

    @Phelim Lennon. Mine is a total wildcard, which is why I am so excited about it and what we ALL can learn about it :-) Cash flow = ?? I couldn't pass up the deal, and I think worse case will put me in the positive.  Normally we all crunch #'s to make sure a deal works. This was one that I had to go into trying to steal it, and ask questions later. I have found that taking calculated risks (with my own $$) yields greater rewards, but this is a deal I would have never done with a partner, or for a client that I was representing. More to come. Closing tomorrow, and will share all the data. If I forgot, hound me, and I'll do it. Just been so busy lately, and it's awesome!! 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    10y

    Just checking back in...I graduated ~3 weeks ago, and yesterday, with the help of @Rick Santasiere I put in my first offer ever on a property. Now we wait...a lot... :) 

    0Reply
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