All Forum Posts by: Dominique Long

@Dave Grimson okay. I sent a PM

@Holly Scanlon thanks for the advice. Would you recommend investing in Waterbury for rentals? I'm not too much into the BRRRR method because I don't want to do any big rehab projects really, as of right now anyways.

Anybody from CT who does real estate investing I.e, buying multi-families and renting them out. I’m currently starting and in the process of looking for a 3 family in Waterbury CT. Any suggestions on buying in Waterbury? I live and grew up here so that’s why I’m most comfortable with buying here but wondering if I should look else where because everything I see on the market looks like crap out here. Any suggestions? Good Lender suggestions? Tips on buying out here anything is helpful as I still have so much to learn!

@Taylor L. I forgot to add The typical prices per unit in a nice neighborhood for a 3 bedroom would be about 1200-1400 and for a 2 bedroom in a good neighborhood anywhere from 950-1000

@Taylor L. @Matthew Reichert

I do plan on living in the property as I am doing a FHA loan but only for about 2 years. The quality of the homes in CT for 200K is not bad at all especially for a duplex I can find something nice that's pretty much move in ready. The only reason why I'm concerned about Cash flow with the duplex is because if I'm living in one I'm only getting that 1 units income where as if I did a 3 family or Tri-plex I would have an extra unit while living there so 2 units income and the extra one when I move out which would be 3 units income. For a triplex finding something nice in that range is a little bit tougher as the nicer ones are about 30-50K more. But I'm only 24 so I don't want to start off that high just yet and/or nervous about going that high.

Any advice to somebody whose starting out in REI. I was recently pre-approved and my lender told me to start looking at homes so we can get the numbers down. I live in Waterbury CT and there is pretty much nothing good on the market right now to even consider. I'm not looking for something where I have to do major constructions or old and outdated and my max budget is 200K. I really want a 3 family but I'm starting to consider a duplex because they are more up to date and better looking than the 3 families I've seen but the downside to the duplex is I won't produce as much cash flow as I would like. Any advice on whether getting a duplex or 3 family for your first REI? Or any advice in general would be helpful.

Question.....

When starting out did anybody else feel like family and friends either looked at you like you were crazy or didn’t take you serious when you decided to do rental investing? Maybe it’s just mine I feel like they think I’m crazy and I also feel like I have nobody to look to for real solid advice in real life!!! None of my friends or family are involved in real estate which is fine but I can’t ask somebody who knows nothing for advice about something I wanna do or if I do they tell me I should wait 5 or 6 years to do this because I’m young(23) or save 50-60,000$ first.

I just want to secure my future with more than a standard 9-5 pay check to paycheck kind of job and have multiple incomes instead of 1, like them.. Don’t think I’m crazy for that

@Josh VanSetten

Thank you! And that's what I've been looking into. I'm thinking about doing a FHA loan on a multi family just don't even know where to start!

Thanks for the best wishes.

@Will Pritchett

Hello Will,

I'm from Waterbury, CT. My interest in real estate just recently grew into something I can no longer ignore anymore so I decided that it's time to get things going. Im currently trying to figure out what's the best plan for me and where to even start. I was thinking about house hacking to begin with and maybe look into FHA loans and purchase a multi family home with at least 3 units 4 obviously being the most since that's all I can obtain with that loan. Reading lots of books and information. So much I still have to learn! Trying to figure out how much I should save and what's my budget and what towns to look into is definitely the hardest part for me right now.

Hello, I’m new to this BiggerPockets community and just looking network and talk with some investors or just people with good advice in general! I’m 23 and looking to start my first rental investment. I’ve been researching things all about rental investments and trying to learn as much as I can. I’m hoping to buy my first multi-family home by the end of this year I just want to try to get most of my ducks lined up. Any advice for a young first time investor??