All Forum Posts by: Gordon Hurley

@Mack Bailey you can hear bad stories about everything if your listeninglol. It's all about what you find, in the Indian orchard area I see alot of multis that look good to me.

@Mack Bailey good opportunity in your area for sure I'm living/investing in Enfield and may start soon in Springfield MA as I also work up there.

@Jim Piekos I have a duplex in Enfield and haven't had a problem with one month security and first month rent. If you've been burned before maybe screen better and make sure to check up on the property often. I also have required everyone to pay a 30 application fee, if they want to try, for a credit and background check. If they are serious they will pay it and it will help to weed out the tire kickers. Also I'm not too strict on a background check as long as people are honest and it's a few years old. But before people even show up for a showing I notify them of all of that.

@Sean Spellman how did this work out for you have you now invested there? my new wife's family has an inheretedhouse right next to Acadia on MDI, they are thinking of selling and we are debating offering to try to buy it. Just new and nervous how much tourist potential is there way up there?

@Dave Grimson nice thanks for reaching out, I'm curious in this area are you aware of any local meet ups for CT people? Also any leads for good brokers to reach out to for people looking to get started?

@Michael Noto thanks. Yeah that was my biggest hurdle I kept putting off the course because my work is an odd 4 day and 4 night rotating schedule so I will have to take days off for a few weeks in order to attend the classes but I finally came to the conclusion that if I don't just pull the trigger I never would

I'm in Enfield CT and I've finally just started to take the steps to get my license! I start classes on Monday, and maybe by the end of year or January I will be a licensed realtor. This has been a goal for a while and I've procrastinated, I have a dream of owning many rentals and retiring my 9to 5 very early, this will be a great step in the right direction for me! Does anyone have any tips or advice to get me started or things you may have wished you'd been told early on? Thanks everyone and have a great day!

@Dave Grimson I would be interested maybe stop by the western mass Meetup there's on in east longmeadow once a month I think second Tuesday of month

Any lenders in northern CT (Enfield area) that work with investors? Looking at a deal I want to get into, able to put about 8% down on a 2 family rental investment at $160,000 also maybe explore a HELOC on another 2 family I own to help. If anyone has suggestions for me, or recommendation on anyone I can ask for advice I'd appreciate it, thanks everyone!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Enfield.

Purchase price: $126,000
Cash invested: $12,000

Small duplex in Enfield

What made you interested in investing in this type of deal?

This property was first to reside in one unit and rent the other because I didn't want to pay someone rent. Now I finally have fully rented and both units remodeled.

How did you find this deal and how did you negotiate it?

Found deal just by constantly browsing new listings on Zillow, saw and made an offer the second day it was on market Bid 1,000 over asking to win over other offers.

How did you finance this deal?

FHA loan

How did you add value to the deal?

Market added value and I gutted and refinished kitchens and bathrooms over the following two years.

What was the outcome?

Still have this property and it is now providing positive cash flow.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Robert Picard - Realtor
Tyler & Tyler - Attorney
Delano Mortgage - Mortgage broker