All Forum Posts by: Daniel Raposo

Hi @Ilona Kovacs

I think the question you really need to answer is where do you want to live. New Rochelle, Great Neck and Stamford are individual markets, so when you go to sell later you are really only going to be competing with other properties within each market, not really against the other markets. Typically, property taxes are going to be cheaper in CT towns than in NY towns that are about the same distances to NYC. This is interesting, I don't meet a lot of people checking out this wide of an area, definitely gives you a lot to think about. The most important thing is finding a good deal in a good location within whichever market you decide on. Good luck!

Hi Melvin Hubbard Welcome to BP!! This is definitely the best place to get started and build you education and network. There is a meet up organized in Fairfield on a monthly basis, you can normally get the info by taking a look at the events on BP or setting up a Fairfield County keyword alert. There is also a SouthernCT REIA that meets in fairfield but it has been a few months since they got together. You can find their info on meetup.com Good luck!!

Thanks @Michael LovellIt was great meeting you today as well!

So I've decided to do another video between now and the mechanicals video to show some of the work going on outside, etc. since the weather broke a bit for us recently. Should have that for you guys soon. 

@karen

@Karin Crompton@Account ClosedI agree, I'm going to do some extra videos throughout so I can compile everything at the end to make a video for prospective buyers. I think it could be a great confidence booster for them. Thanks for all the feedback everyone!!

Thanks @Michael Noto @Bill T.  and @Griffin F. There will be more to come.

@Karin Crompton Thanks for the feedback, I think we could definitely add more production value that would help explain visually what I am talking about. The hardest part right now is just trying to figure these things out as we go and still keep up with the rehab!!

I also had an interesting suggestion to compile these and use them as a marketing piece for prospective buyers to show them how we did the rehab and provide a little more confidence to them that things were done properly. Thought it was a great idea, what do you think?

Week Two!!

We have cleared everything out and completed our demo. The main topic of the video is adding value to entry level homes by creating floor plans, room sizes, features and "flow" that are more typical in higher end homes. Let me know what you think.

Hey Jahmel Rollins welcome to BP!! I think the FHA and 203k programs are a great way for people to get into real estate, especially if you can find a small (1-4) multifamily that you can live in for at least a year and get some experience managing a rental. Biggest advice regarding this is to start working with you loan officer early in the process so you can get a good idea of what to expect. Biggest advice on the investment side is to be conservative with everything you estimate, and then be even more conservative again. BP has some great calculators you can use. Good luck!

Welcome Andrew Ginsburg ! It's great to see new investors from CT getting into the game. I am focused more down in the Fairfield County area but recently bought a multifamily in Hartford. Hopefully we will have a chance to catch up sometime!

Hey @Account Closed 

Welcome to BP and real estate investing! It's always great to see new local investors getting involved on BP and starting out their investing careers!

Wholesaling can be a great way for new investors to get started because you can put in a lot of time to find great deals with very small out of pocket expense. That said, it is not easy. 

You're definitely taking great first steps getting onto BP and reaching out to local investors. Set up some keyword alerts so you'll hear about the next local meet-ups and networking events.

Thanks @Account Closed You can thank my sister/editor for that little outtake... haha

I will start by saying I have my own construction company that we are in the process of transitioning from a GC working for others, to a GC just working for me. It sounds to me like you are putting a lot of time, management, and risk into having a large base of unskilled labor that you can draw upon as you need them for either growth or eventually training.

I agree with @J Scott that you are likely at risk if one of them were to get hurt on one of your jobs, just like you would be for any of your other employees, and you are probably getting a lower quality result by using unskilled labor.

I think the safer and more flexible way to grow and maintain quality is by using subs with their own licenses, insurance, etc. that you can manage as you slowly bring in new employees that you can train and build a relationship with. But hey, that's just my 2 cents.