All Forum Posts by: Daniel Raposo
Daniel Raposo has started 13 posts and replied 265 times.
Post: Opinions on ListSource?

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Post: Tenants unhappy about electric bill need advice please

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Post: Qualifying Cash Buyers

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
There are quite a few terms you can use, just saying you're a wholesaler or sourcing deals or finding deals for other investors, etc. I think more important than the term you use is your comfort level with what you're doing and talking about it with the investors. Typically most investors will want to know how you're sourcing the deals (MLS, mailers, drive by, probate, etc) how you're looking to get paid (assignment of contract, percentage of price, equity position, etc) and things like that. I don't really operate up in your area, but good luck!
Post: 2015 in the bank and planning for 2016

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
I always like to take the first month of the year to look back at my past year and plan for the next one.
In 2014 we bought and sold our first flip for a nice profit, I've discussed this in previous posts so I won't get into it here. 2015 was a pretty good year for my team, in both lessons learned and money earned. We purchased a number of properties, including 3 rehab flip properties, a 15 unit multi-family for holding, and a 2 family for holding. We also did our first direct mail which led to two wholesale/listings and the 2 family property we purchased. While this was a nice step forward, we fell a little short of my goals. We dealt with delays on a few projects and some family health issues. I learned that I need my team to be more flexible, less people dependent, and more system oriented.
We completed our second flip in 4 months this spring/summer which we documented in a video deal diary here Video Deal Diary! We earned a total profit of $108,500 on this deal, representing an 81% Cash on Cash Return (not annualized)
We completed our third flip in 6 months this summer/fall which earned a profit of $54,000 representing a 66% Cash on Cash Return (not annualized)
My goals in 2016 are to grow our team and systems to handle more rehabs, but to do this means finding and buying more rehabs, which means ramping up our marketing and stabilizing our deal flow. I plan to focus my personal attention more immediately on the systems we use to find deals while my team works through our current inventory. We will buy what we can handle and wholesale/list what we can't, all the while systemizing the process and outsourcing where we can. The next step will be to grow our investor base and project team so we can slowly take on more deals. My goal is to be buying 1-2 rehab properties per month by year end, and have the people/systems in place to properly manage them.
What are your goals for 2016?
Post: Heating woes

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
I'm not familiar with the Oxford area so can't really speak to value questions, but as for the heating options, I think you should go into the flip planning and budgeting to replace the entire system. Budget for a new furnace, condenser and ductwork for either Natural Gas (check with Eversource to see if its available there) or LP tank (the $20k from @Travis Lloyd is probably a good start). If when you get in there and find out that the furnace is in good shape, you may want to just replace the baseboard and install new air conditioning. Keeping the old heating system and installing a new air handler, condenser and ductwork can be about half the cost of doing everything new while still providing the features (central air) that your buyers will be looking for in a renovated house.
Post: Need a New London County CT Broker

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Post: needing some guidance in ct

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Post: Investor Breakfast Meetup - Valencia Luncheria - January 7th!

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Join a group of investors for great breakfast and conversation, this is just a group of people discussing real estate and getting to know each other. The group changes every week with a few consistent people, but we have had a good group of active investors, new investors, wholesalers, rehabbers, flippers, agents, brokers, mortgage lenders, insurance agents, designers, and many others. Everyone eats breakfast, right? So come and eat or have coffee with us and network at the same time!
Meetup Connecticut Fairfield County Norwalk Stamford Bridgeport Darien New Canaan Westport Wilton Weston Easton Redding Ridgefield
Post: Bidding War in Connecticut

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147
Post: Would you buy a Lead Abated property?

- Rental Property Investor
- Norwalk, CT
- Posts 276
- Votes 147