All Forum Posts by: Chris Martell

It was indeed for Middletown:  http://gis.vgsi.com/middletownct/Search.aspx

Happy hunting!

Kit Crowne is in Manchester and specializes in 203k.  He's a good guy. I believe the company's name is Right Trac.  Check him out. 

For a "buillder" that will be too small a job.  

You want to find a remodeling contractor - or a good carpenter who can connect you to other trades as needed.

You might try calling the supply houses in the area where you need the work done, and asking who they recommend.  The smaller, more personal suppliers will be able to give you more specific feedback than the big box stores.

Good luck! Finding the right help is 90% of the battle. 

@Account Closed - I'm curious - what would your approach be if bankruptcy were not an option?

I thought I'd revive this thread, since we're seeing more B-corps and Benefit Corporations in my area these days.  I worked for a design-build firm earlier this year that was strongly into the Triple Bottom Lines, and after hanging out in that atmosphere, so am I. :)

As I'm going through the preparatory work for my own company, I'm now facing the question of whether to form a Benefit Corporation (as in, "start a corporation, elect "B" status, then ask to be taxed as an S-corp), or whether to just get the B-corp certification (i.e. create an LLC taxed as an S-corp but throw in the $500 annually for the B-corp cert). I guess I'll need to sit down with a CPA and a tax attorney and see what they suggest.

For my goals, it's entirely worth it.  The thrust of my business is social and environmental responsibility, and you really can't put a pricetag on credibility. 

Wholesaling is possible in CT, but trickier than some other states. We're a state that closes with attorneys, rather than a title company, so you'll need to have an attorney comfortable with contract assignments (or you'll need transitional funding for double closes). 

Welcome aboard! 

No way.  What recourse would you have if there's a problem later?

Chustnut & Stanley is not an area I'd pick, but I know someone who just bought a property there.  

For what it's worth, I can't back that particular opinion up with numbers, just with bias from driving through. It's right by the post office. I could be entirely wrong about it, but that's my take.

I'd echo what's been said above: NB varies widely. Do your due diligence.

There are some areas that are lovely.  I'm renting in NB right now in a pretty nice neighborhood.  The price was right and the landlord is a friend of mine who's been investing for a long time. He owns multiple properties here.  

On the other hand, there are places in NB I wouldn't go anywhere near. 

There are deals to be had, but not all that looks like a good price really is.  Some houses are real dogs, and some neighborhood are totally unsafe.  

@Charlie Fitzgerald  Great thoughts. The parents aren't an option, though we did look at family members either for PL or even a co-borrower in a pinch. 

Inspections are going to be critical. I gave it a hefty walkthrough and found some things that the realtor didn't know about.  There's one big question mark that needs pro inspection that could be an instant dealbreaker.  From talking with the agent, it seems that the low price is a result of the bank turning down some offers at the higher price and then realizing they couldn't get their first price.  It's definitely curious that it jumped down so significantly.