All Forum Posts by: Daniel Raposo

Hi @Rachel Gill

I was wondering if you could clarify one point that I think others have overlooked. 

 - I work for a real estate group and he does all of the repairs/rehab work on all of the properties we list 

Are you using this handyman to do work on client owned properties before you list them, or are they owned by your real estate group? If so how is the work contracted and paid for? I think the biggest risk is if he were to get hurt on the job or if someone were to get hurt in the future because of his work. In either of those cases you could be liable for the damages  as the person that hired him and would have little recourse against the handyman (as opposed to a licensed contractor whether they have insurance or not) I think the fact that you know they are unlicensed would further that issue. If you're arranging for him to do work on other people's properties you could be opening yourself up to being sued by the owners, the buyers of the properties or him if someone were to get hurt now or in the future. 

Finding reliable contractors is definitely hard, but if you need someone to do a lot of work or small jobs on a bunch of different properties, in my opinion it is not worth the risk to use unlicensed or uninsured contractors.

Congrats @Kim Handelman on what looks to me like a great lead!! The numbers make sense to me, now you just need to find a rehabber in the area! Good luck!!

Rafael De Oliveira I think Norwalk is a great area to invest. If you're thinking about single family rentals the higher end areas would be the Northern neighborhoods like Cranbury and Silvermine. There are also great areas for multi families in East and South Norwalk. Each area is kind of unique but I would be more than happy to talk more in depth about the town if you would like. Private message me and we can connect.

Ryan Bergeron If you're going to take the time to sit through the course I think it would definitely be worth getting your license. From there you could try to find local investors and see about possibly working as a part time assistant, or work with an agent doing a lot of business as part of their team, which is a great way to learn the transactional side of the business. Either way, taking the course is a great way to get started and learn a lot. Good luck!!

Hi Gregory Guillet You're missing a lot information a prospective is going to want before even considering a property. Take a look at the beginners guide from BP and by using the rental calculator you can see what information goes into analyzing a property. Just the price and rental amount aren't enough, and typically your operating expenses are going to include things like maintenance, management, utilities, etc not just taxes and insurance. Good luck!

Rafael De Oliveira I think it's great you're starting the process and exploring some options, this is certainly the best place online to learn about real estate and meet other investors. I think before you start trying to figure out where to invest you should think about what your goals are, and then develop a plan to achieve them. If you are hoping to get some supplemental passive income you could look to invest alongside other investors in a partnership or syndication, to build long term wealth maybe look at rental properties, be actively investing to replace your 9-5 income maybe rehabbing or wholesaling. Or maybe you want to do a combination or start with one strategy and grow into another. You can do all of these things pretty much anywhere, so figuring out which strategy best accomplishes your goals is really the most important step. If you're not sure yet, the podcasts and blogs are a great place to hear about other people's stories and experiences. Good luck!!

Anything in fairfield county, let me know.

Hi @Blake Williams

There are a few different organizations in the state that will have down payment assistance programs, the secret behind it all is that most of them are use funding programs from CHFA and HUD. For whatever reason, CHFA and HUD funnel a lot of their money through local banks and non profit organizations that support housing for various reasons, it could be multi-family properties for low income housing, or down payment assistance for homeowners. This allows them to spread their money out to various geographic areas fairly easily without having offices, personnel, overhead, etc. in that area. Unfortunately this also means a lot of confusion for people like you and me about the various options out there because different organizations will have different lending criteria for their programs or work with different banks, even though the money is all coming from the same place. Your situation is a great example of this. Here's another example, right now my girlfriend and I are buying a house to live in together, and while we both fit all the first time homebuyer criteria of FHA, HUD and CHFA, there are only a couple organizations with down payment assistance programs in my area and they all don't recognize me as a first time homebuyer because my company owns investment properties.

The good news for you is that it seems your bank will work with an organization in your area, so it really doesn't matter that the organization uses CHFA money, they all use CHFA or HUD money. Good luck, hope this helped clarify things.

Someone just sent me this video and this may just be the future of open houses. I would have embedded it but Facebook won't let me. So let's try a link instead.

https://www.facebook.com/video.php?v=8842278082638...

Hi Anita Jernigan I'm going to try and help you out here and clean up your post to make it a little easier for everyone on here to understand. Purchase Price - $22k Rehab Costs - $35k ARV - $97k Your question, is this a good deal? Here are some questions you would need to answer for people to really know whether or not it's a good deal. Do you have a list of repairs needed so people can see what your rehab costs are covering? Photos of the property? Description of the area? Carrying costs? It is easier for people to help if the information is presented in a clear way, broken down with punctuation, spaces, complete sentences, etc.