New Member from Danbury, Connecticut

New Member from Danbury, Connecticut

Danbury, CT · Member since 2016 · 29 posts · 5 votes

Hi BP Members,

I've been a lurker on here for about a month now and officially became a member a few days ago. My name is Rob and I'm 34 years old living in Danbury, CT.  I started researching the idea of using rental property as an investment, and a place to live temp, and stumbled onto this site. I was both shocked and excited to see so many people discussing the same things that have been bouncing around in my head for awhile.

I don't have any experience but I do have the will and dedication to learn everything I possibly can about this business and how to get started.  Currently I'm reading 'The Book on Rental Property Investing' and plan on picking up more books.  I've also been listening to the podcasts on here as  much as I can. 

My plan is to start with a FHA loan in a multi-family property that I can live in one and rent out the other and hopefully have the tenant pay for most, if not all, of the mortgage so I can continue to save money and acquire more buy and hold properties. The main hurdle I have at this moment is funds so having a 3.5 down payment or less would be what I need. Knowing this, I've been saving and educating myself in the mean time.

The idea of building exponential growth through real estate investing is real exciting to me and I can't wait to get started.  I feel like I just need to get passed that hurdle and into the first property to get the ball rolling.

Not having much luck on the MLS sites searching for multi-family properties in the Danbury or surrounding area so if anyone has any suggestions I'd love to hear them.

I look forward to connecting and networking with others within the BP community so I can learn as much as I can and hit the ground running. 

Thanks,

Rob

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Most Popular Reply

Real Estate Broker · Windsor, CT · Member since 2015 · 1k+ posts · 268 votes
10y

Hi @Robert Harlacher welcome to Biggerpockets! 

See this reply in the discussion

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  • Investor · Danbury, CT · Member since 2015 · 16 posts · 3 votes
    10y
    Count me in would love too. During the week works for me!
  • NJ · Member since 2014 · 15 posts · 2 votes
    10y
    Should we start thinking about a date?
  • Robert HarlacherPro Member
    OP
    Danbury, CT · Member since 2016 · 29 posts · 5 votes
    10y

    I've been looking into the LEAP program with the Connecticut HDF that works similar to an FHA loan but is specifically for multi-family properties. I signed up on the website and started talking to one of the reps but was just wondering if anyone here has had any experience in working them. Has anyone in the area, or in CT , used them for funding their deal and can speak on the experience ? Looking for opinions on how the process worked or didn't work.

  • Investor · Dallas TX, United States · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    Welcome to the group, you can learn a lot on BP and build yourself a pretty big network. 

  • Orlando, FL · Member since 2015 · 79 posts · 20 votes
    10y

    Welcome @Robert Harlacher. Look forward to hearing about you successes and Experiences. 

  • Real Estate Investor · Unionville, CT · Member since 2016 · 260 posts · 167 votes
    10y
    Hi! I'm a Realtor in CT...Welcome!
  • Investor · Danbury, CT · Member since 2015 · 16 posts · 3 votes
    10y
    I think we can manage a once a month meetup I'm Danbury there seems to be enough interest in northern Fairfield county to keep it going
  • NJ · Member since 2014 · 15 posts · 2 votes
    10y
    I could supply a reasonable place to meet at a condo clubhouse. Fee is $100. I can put us down for a date if some people could help share the cost. Toll brothers community exit 1, i84 Danbury. I can send out some dates for end of July or early August in a few days.
  • Bronx, NY · Member since 2014 · 25 posts · 34 votes
    10y

    Also interested.

  • NJ · Member since 2014 · 15 posts · 2 votes
    10y
    Hi all, Danbury meetup scheduled for Thursday August 11th at 630 pm at Molly Darcy's Irish Pub in Danbury. 39 Mill Plain Road. No cost but try to purchase a drink if you want. Happy hour pricing first half hour on drinks and appetizers. I'll start a new post to advertise as well. Feel free to reply if you can come and I'll try to make sure we have adequate space. Looking forward to it. Neil
  • Investor · Middlebury, CT · Member since 2016 · 31 posts · 6 votes
    10y

    I will be there.  Did you ever get an answer to your question about Cap Rate range on multis in this area? @Neil S.

  • NJ · Member since 2014 · 15 posts · 2 votes
    10y
    Great Brendan. Looking forward to meeting you. I have not received good info on cap rates in Danbury. I have heard whatever they are, they are decreasing.
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