All Forum Posts by: Jason Arcuri

@Arthur P. Still getting them in Connecticut

@Melanie King in my opinion only a concern when you sell in the future and as long as you understand that, you'll be fine.

Sounds great.  why are you moving?

do you care about appreciation? There's definitely some out there that can cash flow depending on the size of your downpayment but over the past year we've seen declines in value. Also the cash flow generally isn't high and very few even hit the minimum 1% rule in Stamford. If you go to Bridgeport, you'll see more favorable returns.
Overall it really comes down to what you're looking for in returns and location.

First and foremost, I'm not a new investor and I am a high-risk individual.  With the tactic I'm currently using, I will be leveraging an old multi-family I had bought a few years ago that has a ton of equity.  I roughly owe 170k on it and it's worth around 450k.  My hard money lender is putting a second lean on this property as my collateral so I can buy a 5 unit and a 6 unit in Waterbury for a very very good deal.  Also, they will be financing 25k in rehab work (basically just updating electrical throughout both buildings).  
Now what's cool about this is that I will refinance the properties within the first year and get into a normal mortgage and get out of a ridiculously high rate hard money loan.  Also, when I refinance, there is so much equity in the 2 buildings that my entire loan amount will be covered so I will have now added 11 units to my portfolio and roughly 3k of passive income.  (I will be splitting this with a partner I have as we have grown together so for me it will be 1500 of income).  
Once these 2 are refinanced, that now opens up my original multi to be leveraged and the 2 new ones also will have a ton of equity and I will be able to leverage them into purchasing more.
On top of that, I also belong to a company that I get residual income from utility bills that I request my tenants use.  Having 11 more units, I should be able to get half of them into that program.  

Hoping next year will be the year that puts me over the edge on my goals.

Look up sachem Capitol.   They're extremely easy to work with and can close in a week if need be.   Use my name if need be.  I use them all the time. 

Also they wont give it to you if it's for an owner occupied 

Look up sachem Capitol.   They're extremely easy to work with and can close in a week if need be.   Use my name if need be.  I use them all the time

Honestly im a numbers guy and go off that and the look.   I'll go there at night and walk it if I'm concerned.   

@Eric Tallarita I really like New Britain for numbers.  I have rented out properties thoughout Connecticut and I generally find no issue with getting a tenant.  Even when I push for higher rents, it rarely is an issue.  Retention usually comes down to who you choose and how you choose them.

@Jason Boice if you're focusing on higher-end towns then you're not going to get the return you're looking for.  There's always a tradeoff.  If I was you, I'd look back at Waterbury but on the outskirts.  Much higher end areas but prices are still reasonable.  300k for a 4 family that would bring in 4k a month, would def. make a profit.