Hi everyone! My name is Sean and I’m from Southeastern CT. Currently looking to get into real estate rentals with my wife in our area. We own our primary residence, but are looking to take on some assets in order to make our money work for us and provide a supplementary income.
I’m currently a mechanical engineer. We are looking from single family to multi family home to purchase for rentals. Any and all advice is welcome for how to navigate rentals in CT. BP podcasts have been super encouraging and beyond helpful. Looking forward to becoming a contributing member of BP
Hello @Sean Maginess , welcome to the site! It's great to have you here.
@Sean Maginess welcome to BP and great to see more folks in CT looking to build wealth/create passive income. Feel free to reach out any time. We are closing on 12 units in Norwich in a few weeks, and cover most of the state. Would be happy to share some experiences.
What's up guys? Good to see some more South Eastern CT investors on here! @Rick Santasiere where are the units you're buying?
Norwich Avenue. Two 6 unit bldgs
Welcome to BP @Sean Maginess! Start with your budget, target market and min cash flow per unit. I'm looking to house hack 3-4 units multifamily in Stamford - Norwalk and buy with FHA 3.5% down payment loan for starters. Let me know if you have any questions, it is always great to talk to like-minded folks.
How's the numbers look on that property @Rick Santasiere ? Norwich a bit far for me. Can you please send additional information about the property? ( of after the close) Thank you!
I am not certain as to the #'s the client came up with, but it is definitely a 12+ Cap with good management. It is definitely management intensive though...
Hey @Sean Maginess - nice to meet you welcome to the community. Admittedly I've been more of a lurker than a poster but I've learned so much from the site/podcast. Feel free to reach out w any questions. I'm still new but own 3 multis and have done new renos. Happy to share some of my new guy mistakes & successes!
@Sean Maginess welcome to BP.
Good luck to you & I'll see you around the forums.
Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:
Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/
Wishing you the best!
Welcome aboard Sean!
Hi @Sean Maginess - welcome to the forums! There's lots of great stuff on here. Feel free to reach out with any questions I can answer from a newer investor standpoint.
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