Updated about 9 years ago on . Most recent reply
Middle Aged Newbie in New Haven Ct getting his feet wet.
Let's try this again...Brett Avelin here. LIve in Guilford, Ct, am looking to invest in New Haven CT if I can afford it. Also looking at Wilmington NC on a tip from a friend if New Haven is too pricey (Last BP Podcast with Steve Garner from Wilmington was super helpful and full of good tips)
Haven't found/reached out to local REIA yet, but aim to this fall. I am currently invested with a syndicate group in a 105 unit property down in GA. Did it so I could learn about the process. In truth I have found the whole thing a bit over my head and intimidating, but I think it will be a good investment as well as good learning.and I should be able to get my cash out in the next year after the refi. The people I am working with are top notch. I have enjoyed their level of professionalism, due diligence, and proactive steady approach.
Am looking to do my first deal this next year on my own. Have been studying the Air Bnb market as my mother in law has inspired me. She is 75 and was burning through her retirement, so now she rents a room in her apt. in New Haven East Rock neighborhood and has it rented 5-6 nights a week all year round. The BP Podcast with the guy from Austin TX (forget his name) was very helpful regarding Short Term Rentals. Guess I'm a bit nervous though given the unknowns regarding regulations, saturation, finding the right people to manage/clean etc in the Air Bnb market.
Looking to have this first deal be five to ten units. Realize it's a lot to bite off first time through, but from everything I have been reading/hearing it makes the most sense. I have some background in construction and currently am a Project Manager so I would look manage it myself unless there is an existing Property Manager in which case I will see.
I am happily married with two kids. We love playing soccer, swimming in the summer, and enjoying romps around New England to Cape Cod, Maine, and Vermont. I also have gotten back into playing guitar of late and look to play out at some point for fun.
Most Popular Reply
