All Forum Posts by: William Collins

@Ilmar Molder string is relative. The property types you listed require capital and are you comfortable with just a virtual handshake, some photos, and move into partnership. Our would you want to walk through and make sure your partners are who they say they are and their projects align with you.

Welcome to the forums. As a CT based investor what are you looking for? Single family, apartment, small multi, commercial? You might want to try to come back and network at a couple of the local meet ups to figure out what and who you want to work with.

@Christopher Mcfarland Welcome to BiggerPockets. We have a vibrant network of folks having meet ups all across the state. I would recommend looking them up on the state specific forum and prioritizing getting out to them to help build contacts.

@Mindy Jensen thank you, definitely love the look of the new app.

I am thinking that my late fee is to low. Almost every month I have about 25% of my portfolio in Connecticut get a late fee assessed. My question is if I raised my late fee of $50 to 10% of rent which would be between $75 to $150 do you think it would improve this chronic late payment. I have only had 1 eviction in 3 years, and the folks paying late do end up paying. We do proceed to immediate late fee and a pay or quit notice on the first working day past the 10th (state law in CT) . Most people are also long term and so are month to month at this point, so it would be possible to change relatively easily. What are your thoughts?

I am interested as well, let me know.

@Christopher Kolasa  Is this for owner occupied- that is a possibility to get them negotiated removed for.   Also if you are owner occupant they will negotiate a LOT more with you

Howdy @Cody Montgomery  this is a tricky situation, and here is the best way I have seen to do this.  You need to find a portfolio lender.  Ask specifically if they hold the loans in house, or if they need to be Freddy Mac/ Fannie conforming loans.   If they do not then this bank is an option.  The second option is the commercial loan department of smaller banks. They will take more non conforming loans and lend on the cash stream of the property/ asset.  This option maximizes the potential as it is income based, but rates/loans are more likely to be 5/10 arms or the like.

@Raumil S.  From the sense of where your describing this is probably a property in Newington/ Berlin.  The issue comes into what the property could be developed into.  There was a small motel on the same road which sat for a year, as the town had said it would not consider rezoning it to allow apartments.  Shoot me a message with the address- I will give you more thoughts.  

Nicole,

West Hartford is one of Central CT's A market's, but there are others. If you can't make a West Hartford deal work- you should consider Glastonbury, Rocky Hill, or like towns- where it is still B+ area's.