All Forum Posts by: Filipe Pereira

Hey @Heather Moore, have you tried reaching out to a local agent to be able to gain access to the "buyer side" of the MLS? There may be enough information through that portal that you will be able to view the things are you hoping to find.

We had a similar scenario come up over the summer @Sal Burges (also in Connecticut). The owner elected to not let them in (for the reasons ou mentioned) so we stuck to our guns and said no. 

There are no state laws going one way or the other. At this point they have terminated their tenancy by turning in their keys, and they officially no longer have rights to the property. You are good to go. 

Do you send your tenants a common list of security deposit deductions? I can send you the one we use if not. 

Classic case of "if it seems too good to be true, it probably is". There was a post in my local CT Realtors group where a seller purposefully (allegedly) tried to cover up fire damage. You just never know what's out there. That's not to say your inspector would / wouldn't find it, but at least they have a shot at it. 

Welcome to the real world of seller financing. It's not always as great as some people make it out to be. @David Robinson is totally right in saying that the seller keeping the 10% should you back out is normal, and often times that's really where they make their money. Put yourself in their shoes. Wouldn't you want the same thing? 

Is there a reason you can't get a conventional loan?

What I did when I first started out was calculate how much it would cost to replace all the water heaters and furnaces / boilers in my apartment. Thats the number I set out to hit. I figured if they all broke in the same month (virtually impossible) I would still be safe. If that's too conservative for you, you can just do 3/4ths of it, 1/2, etc. But at lease this way you know it's built based on something tangible. 

Looks awesome @William Conrad!

I agree it's brutal to find a property online that makes sense to flip in CT right now. Everything has a million eyeballs on it, and with news about COVID changing every day, it's hard to know where the market is going. At least we know interest rates will be hanging low for a while. 

Well done sir!

@Filip Reutov, if you do allow it, tell them they have to buy on that is pre built (or easily assembled), no bigger than XYZ, and you tell them where to put it. Tell them you need to approve the specific design BEFORE they purchase it. 

I would never trust a seller's inspection report and always do my own inspection. If the seller isn't willing to allow you to have your own inspector inspect the property at your cost, I would not walk away from this property, I would RUN. 

We do this around here on BP like clockwork, LOL. Has anyone gone back to see if any of us were right? 

I think the market will do whatever it wants to do at the rate it wants to do it at. It's hard enough to predict the market when the "normal" cyclical things are happening and I'd argue it's darn near impossible in the middle of a global pandemic. 

One thing is (almost) for sure, rates will be low for a while. 

Hi @Account Closed, welcome to the forums! House hacking is a great way to "break the ice" into real estate investing. Check out this other thread where Somerville was also mentioned. https://www.biggerpockets.com/...

@Adam Sankowski (https://www.biggerpockets.com/...) is out that way!