All Forum Posts by: Christopher Kaflik
Christopher Kaflik has started 2 posts and replied 5 times.
Post: Is a house built in 1840 even worth looking at?
- Somers, CT
- Posts 5
- Votes 1
Motivated seller is trying to get rid of a property that is in pretty dire condition.
It definitely needs a complete gut job. New roof, porch, everything. The only issue is it was built in 1840. Would it even make sense to go for a place like this?
It has potential as a cash flow cow as it has 5 bedrooms and is minutes away from a major college.
251k ARV
It's 2500 square ft to give you an idea of how much work would have to be done. Two stories with a basement.
Who knows if you tear it down to the studs if those would have to be replaced as well. Probably not up to code either, I haven't seen the place physically yet as I am not even sure it's worth looking at.
Offer / Or run?
Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!
- Somers, CT
- Posts 5
- Votes 1
Did you fly out to Ohio to look at and buy all these properties or did you visit once and then did it over the phone via a management company?
Post: Young Couple starting out in REI
- Somers, CT
- Posts 5
- Votes 1
Originally posted by @Jacqueline Carrington:
Hi Christopher,
Congratulations on deciding to jump in and get started with your real estate investing! As a new Realtor, I can say that most agents will want to work with you exclusively because of the work and time commitment for finding and showing properties for our clients. It also establishes a commitment from you as a buyer. An agent wouldn't spend their time marketing a property to sell without a listing agreement, for example.
In addition, without representation on your side as a buyer any personal, confidential or financial information you give to that agent could be shared with the seller.
Finding an investor-friendly agent will takes some due diligence on your end to see that they will fit your needs and vice versa.
Thanks for the explanation! That makes sense. Although I would probably only agree to a shorter term exclusivity contract, say 45 days, in case it doesn't work out for me. Or how about if I find a property and that agent is listed, then I could do an exclusive contract only on that property.
I just don't want to get into something I'm unsure about right off the get-go.
Post: Young Couple starting out in REI
- Somers, CT
- Posts 5
- Votes 1
Originally posted by @Douglas Snook:
A big help will be having an S.O. who is interested as well as you. Mine is not and I call her the Dream Crusher
Good luck in your quest. Keep us posted
Fortunately we're in this together and she's very supportive of the idea of REI.
Post: Young Couple starting out in REI
- Somers, CT
- Posts 5
- Votes 1
Hello BiggerPockets!
I am SO glad that I have stumbled into this wonderful community. My S.O. and I have been reading as well as listening to the pod-casts for a month now.
For about a decade I have wanted to get into REI but each time it just seemed like so much to know or seemed just out of reach. Now I'm finally taking a serious dive into it as I am more comfortable with my financial situation.
First thing we're looking for is to network with others. We are located in Connecticut and on the border of Western Massachusetts.
From all the reading we've done the first thing we're trying to do is get a list of people we can work with. Our power team. Since we're mainly going to start with assignments, we're looking for cash buyers, real estate agents that can provide us with properties and an attorney to go over any forms we might be using.
So far the couple of agents I have called fell through as they wanted to be worked with exclusively or kept canceling on us when we wanted to view a property.
Is it really a hit or miss for these types of things? Are we just going to have to call 50 agents and see which ones will work with us the way we want them to?
Do we need a CPA right away or can that wait until we've done our first deal?
Would anyone be willing to give us some suggestions on who they like to work with in CT or MA that are helpful to investors?
Thanks for being a wonderful community and I look forward to growing with you all!
Chris & Laura