All Forum Posts by: Andrzej Lipski

....unless you do something about it. 

The Connecticut Housing Committee last week just pushed through dozens of "concepts" not even bill proposals. Just concepts which are proposed bills that only had vague titles.  Examples include a tenant bill of rights, spreading fair housing committees to small towns, right to housing, regulating storage costs for tenants, restricting evictions.

The CT Property Owners Alliance is trying to organize landlords across the state. Many landlords in this state are not networked and don't know what is coming. The tenant unions are better organized, they have scripts, they are going door to door and doing phone and mailing campaigns.  CTPOA needs your help.  Join the email list.  Get involved. 

Contact your legislators:

12 Co-Chair Luxenberg, http://www.housedems.ct.gov/luxenberg D
S22 Co-Chair Moore, Marilyn V. http://www.senatedems.ct.gov/Moore D
112 Ranking Member Scott, Tony J  http://www.cthousegop.com/Scott R
S16 Ranking Member Sampson, Rob  http://www.ctsenaterepublicans.com/home-sampson R
5 Vice Chair Khan, http://www.housedems.ct.gov/khan D
S09 Vice Chair Lesser,  http://www.senatedems.ct.gov/lesser D
S01 Member Fonfara, John W. http://www.senatedems.ct.gov/Fonfara D
S13 Member Hochadel, Jan  http://www.senatedems.ct.gov/h... D
56 Member Brown, Kevin  http://www.housedems.ct.gov/BrownK D
72 Member Butler, Larry B.  http://www.housedems.ct.gov/Butler D
3 Member Gonzalez, Minnie  http://www.housedems.ct.gov/Gonzalez D
137 Member Roberts, Kadeem  http://www.housedems.ct.gov/Roberts D
68 Member Polletta, Joe http://www.cthousegop.com/Polletta/ R
55 Member Weir, Steve  http://www.cthousegop.com/Weir/ R
99 Member Zullo, Joseph H. https://www.cthousegop.com/zullo/ R

There is going to be a public hearing coming up and we need people to join on zoom in support of landlords in the state and hopefully testify against some of these proposals.

Here in Connecticut they just proposed Bill 138 https://www.cga.ct.gov/asp/cga... They are calling it Rent Stability but it is rent control capping rent increases to 2.5% across the entire state and not allowing landlords to terminate leases with tenants. The sad thing is that this bill is being steam rolled through on just a name along with no details.

The tenant unions around the state are funded by the Democratic Socialists of America (DSA) and they are trying to drive the US to where all rental housing is run by the government.

Quote from @Faith Importico:

I am so pumped for 2023! I think a lot of investors will make lemonade out of these lemons. 

I am! I'm also excited about 2024.  I think the pain might last for a while.  New listing in my area are starting to skyrocket.  People are listing their entire portfolios recently. It will be about cash flow as equity gets wiped out.

Quote from @Brandon Rush:

Hey @Andrzej Lipski,

Would love to have a conversation with you to see how I can help. I am a full time agent based out of Central CT. My primary focus is working with multifamily investors/owners throughout the state. I will message you privately.

 Thanks Brandon!

Quote from @Jazzmel Gordon:

Quote from @Andrzej Lipski:

Quote from @Jazzmel Gordon:

Hey Andrzej, Thank you for that solid introduction. Very impressive my friend. I also share your goal of at the minimum realizing $500,000 annual cash flow. However As for myself, I am a complete novice setting out on my REI journey. I recently signed up with Pace Morby's Gator tribe. I am currently chewing my way through the course. I am ready, willing, and able to add value to your team in any way that I can be utilized. Any grunt work or miscellaneous assignments that you may have to get me active will be greatly appreciated. I currently reside in NYC, but I anticipate a move to CT by mid 2023.

Hi Jazzmel. I haven't heard of Pace Morby's Gator tribe so I had to go hunt it down. Seems there is a niche for everyone in this market. Is it just a form of wholesaling?

No Actually it is a Form of Transactional Lending. It’s mainly suppling wholesalers, or buyers with EMD for a limited amount of time.

Thanks. That's interesting. I can see that allowing an investor to try to run several deals at once without locking up their down payment.

Quote from @Samuel Eddinger:

Welcome to BiggerPockets @Andrzej Lipski.  I know we already talked on Facebook but DM me whenever you are looking to have a conversation.  I only invest in Central CT so I'd be happy to help.

 Will do. thanks!

Quote from @Al Springfield:

Hi just wondering where is the best place to buy real estate? Looking for a upcoming affordable place to start investing.  Thanks 😊 

Welcome Al. Fellow vet here. USMC 8 years and newish to real estate as well.

From everything that I've been told its about location but its about the location you know well.

Where I'm at there are cities and towns where the difference between a good place and a war zone is by crossing the street. If you are willing to invest a lot of time researching remote locations and building up a team there then go for it.  If you know the cities or towns near you you are likely to find better deals and hidden gems that other may not have uncovered.

Quote from @Jazzmel Gordon:

Hey Andrzej, Thank you for that solid introduction. Very impressive my friend. I also share your goal of at the minimum realizing $500,000 annual cash flow. However As for myself, I am a complete novice setting out on my REI journey. I recently signed up with Pace Morby's Gator tribe. I am currently chewing my way through the course. I am ready, willing, and able to add value to your team in any way that I can be utilized. Any grunt work or miscellaneous assignments that you may have to get me active will be greatly appreciated. I currently reside in NYC, but I anticipate a move to CT by mid 2023.

Hi Jazzmel. I haven't heard of Pace Morby's Gator tribe so I had to go hunt it down. Seems there is a niche for everyone in this market. Is it just a form of wholesaling?

Quote from @Michael Doherty:

@Andrzej Lipski Hey Andrzej hope your well. I go to CTREI and many other investor meetups... I am sure we have spoke or met at some point. I am an investor friendly agent and may be able to help you. I also have a portfolio of my own strictly multi family and commercial property. I have a portfolio of C class and B class buildings, similar to what you may be looking for. 

My team and I do quite a bit of wholesaling as well and come across deals all the time. Lets connect outside of BP, I think I can help you reach that goal. My partner is also a commercial broker/hard money lender. 

I DM'd you Michael. Thanks.

Hi all, new to Bigger Pockets and I'm diving back into real estate. I see 2023 to be the continuation of the upending of the RE market and it will expose a number of opportunities over the next 1-3 years.

About me I had a property decades ago in Western Mass and I really didn't know what I was doing.  I focused on my IT career and advanced it pretty far but I'm not going to achieve financial freedom or retirement with it. My experience in the IT industry allows me to develop and integrate APIs into a wide variety of data sources. I've design everything from complex spreadsheets, to website scrapers, integrate APIs from a wide variety of sources, real time notification systems, dashboards that leverage machine learning libraries to build data models. I'm currently applying those skills to modeling my target markets.

The goal is to retire in 10 years with $300k to $500k in cash flow using a buy until you die method.

My market is Central Connecticut Class C Multi families with 5+ units all commercial financed under LLCs. Depending on the economics conditions for 2023 the goal for the year is to close on and operate 10+ units/doors. Starting seed of 120k May 2023 once deals are finalized.

I'm part of CTREIA and I attend the monthly meetings and meetups ever chance I get. I'm the tallest guy there so it won't be hard to miss me. 😉

I'm currently looking for leads or to connect directly with:

Real Estate Agents/Brokers that specialize in larger properties and can provide me MLS feeds for my target markets so I can start gaining familiarity with the markets (i.e. rents, price, CAP rates).

Contractors that specialize in large building rehab. I'm not looking to fix and flip just moderate rehab.

Lenders that operate in Central CT and are familiar with the markets and experience with creative financing. 

What is going on in Central Connecticut? 

What are the up and coming markets that are good for cash flow with minimal downside to property value? 

What are the changing demographics in the area? How has buying and selling demand impacts multi family in the area?

Looking forward to connecting with everyone here and learning from all of your vast experience.