All Forum Posts by: David Constant

@Andres Gomez welcome and good luck to you :) This is definitely the right place to learn, grow, and network on your way towards financial independence! The short answer: yes, rents and property values will be increasing in Southeastern CT. How quickly or by how much? That's a little bit harder to predict. We know that rents always go up - always. And we also know that with rising interest rates it's likely - not certain - that homebuyers may be priced out of the market. This means more people having to continue to rent. With growth at Electric Boat, reinvigoration projects in New London County, and general migration throughout the state, I'm seeing big things for the rental market in that area of the state. Let me know if you want to connect and discuss more.

Hey James -

You are well on your way to building some long-term wealth for you and your family; great work! House hacking is one of the best ways to build your portfolio with as little out of pocket as possible. If you've got the right relationships with lenders, you've got a few options at your disposal. With FHA letting you go 3.5% down, that's always a sensible option. But you're right, you can only have 1 of those out at a time. If you're concerned about rising interest rates, there are some workarounds with the right lender. Also, remember that your wealth-building is long-term and these interest rates are likely short-term. If you can refinance - even to a 5-6% rate - and still cash flow in your current properties, this might be worth it just to lock up a new property with only 3.5% down. Think of it this way: whether you buy the new property with an FHA loan (meaning you've got to refi out of your current loan) or with a conventional loan, you're looking at a higher interest rate on your new purchase. You might as well have a lower down payment with an increased rate vs. a higher downpayment with an increased rate. I've got a few connections that I think could benefit you. DM me and I'd love to talk more.

Hey Paul - Glad to see you're ready to jump in and take action! That's really what it's about :) Are you open to other areas in the state or exclusively Fairfield County? What are you guys looking for specifically: fix & flip, buy & hold, do you care about appreciation more or cash flow? are you interested in short-term rentals? Thinking through all of these can be incredibly helpful as you surround yourself with a strong team of lenders, agents, contractors, and property managers.

@Manuel Villegas Welcome to the BP community :) And good luck to you as you get started! I'm just a few months ahead of you, but I'm always eager and happy to offer a few tidbits of what I've learned to rookies getting started. First piece of advice: ignore comments like the one above; they're not representative of the greater positive BP community! 

In terms of looking for multi families that prioritize cash flow: I'd recommend looking at two areas in particular --> New Britain (although there's already a lot of investor action in that area) and southwestern CT (New London County). I've got a bunch of connections and leads in those areas, so feel free to DM me and we can talk a little bit more.

Good luck and looking forward to seeing your progress!

-Dave

I've wholesaled a couple of properties in RI in the last two weeks and I've got more leads in pipeline. I'm looking to connect with other investors in the RI market. Does anyone recommend any meet ups, forums, Facebook groups, BP groups, or other ways to connect with RI investors? Reply here or feel free to inbox me. Thanks :)

-Dave

@Jonathan Greene Thanks so much for the insights and perspective - means a lot you took time out to respond to my thread!

I took a quick peek at your web site and noticed you do both on market and off market real estate, and you've coached investors to help them build their business. As I mentioned in my previous post, I'm hungry to learn and I learn best when working with someone. Any chance you'd be able to connect about potentially working together? 

Thanks!

Dave

Hey team -

I recently dove into wholesaling and I wanted to reach out here to see if there's anyone willing to squad up. Here's what I've done so far:

-built my Driving for Dollars list (over 500 properties)
-skip traced local pre-foreclosure and tax delinquency lists

-began cold calling (spent about 15 hours on the phone so far)

I've spent hours listening to Wholesaling Inc., watching videos of Max Maxwell, Sean Terry, Brent Daniels and others on YouTube, and searching through the BP forums. I'm incredibly eager and willing to put the time and energy in to make this happen and I'm looking for someone to learn from/with as I get started. I know myself and I learn best when I'm doing it with someone. And I'm not all about taking for myself: I'm fortunate enough to have a solid W2 job right now so as I am learning, I want to JV deals with you, send good deals your way, etc. I'm not naive enough to think I'm going to keep everything for myself as you teach me the ropes.

I have a couple of warm leads right now - or at least what I think are pretty solid leads - and I'd love to connect with you on the specifics: is it a deal? what should my maximum allowable offer be? is it okay to go under contract but not be able to get into the actual property? etc.

Please respond to this thread or DM me. 

Thanks again!

Dave

@Cody Lewis Thanks for your input! I took a look at those resources - they're really helpful. Have you done any direct mail marketing yourself? If so, how has it gone?

@Cameron Braig Thanks so much! I'll look into BallPoint Marketing. Have you done direct mailing yourself? If so, how has it worked out for you? Any lessons learned?

Hey BP Community!

As 2022 gets started, I'm dedicating my efforts to off-market properties, specifically through direct mail marketing. So far, I've built a list of about 1000 properties in 4 neighboring zip codes. Here's the criteria to make the list:

• current probate court records (searched land records)
• tax liens (searched land records)
  
• lis pendens (searched land records)
  
• Driving for Dollars
• late taxes (searched local tax web site and ID'd owners who have missed 2 consecutive payments)

I'm reaching out here with 3 questions:

1. Do you have any feedback on my criteria above?
2. I'm not sure what to put on the postcard - any suggestions?
3. What other advice do you have about direct mail?

Thanks so much!

Dave