All Forum Posts by: Jonathan Makovsky

Thanks @Daniel Raposo! 

Welcome @Robert Kuchta! Are you still active in CT or only in CA? 

@Derrick Longo welcome to the site. I feel your pain re: investing in parts of CT. There are many areas in CT that are not seeing population growth (some that are contracting) and also little to no economic activity (Naugatuck being one of them). Due to this and compressed cap rates we have found ourselves riding the sidelines for many deals that come our way.

That being said there are still many REI opportunities in the state to be had - it just won't be the low hanging fruit that you can constantly pick from. Which doesn't seem very different from many other markets that other BP members have discussed.

I also will plug @Michael Noto as a knowledgeable agent if you're looking in his farm areas. We've met several times (including at the housing/eviction court), and he seems to have a really good grasp on the local streets in his areas. [Btw, I have no affiliation with Michael, other than we're colleagues.]

Last, there are also a couple of REI meetings in the state (Rocky Hill, Fairfield and others) that might offer a good place to network.

Happy investing!

@Daniel Jones Looking forward to seeing you around the site and CT!

@Account Closed I would wait until you have an accepted offer on a property to set-up an LLC. LLC's can be done in less than a day in CT.

@Jose Andrade welcome! We're in Southern CT and as mentioned the people from CT are great. I look forward to getting to know you and best of luck on your MF investing!

About: Our Connecticut real estate meet-up continues to rock and we're back again! The past few meet-ups we had an incredibly diverse group of investors, and deals have been made and excellent relationships built.

Date/Time: Wed. Aug 26th @ 7pm in Fairfield, CT. 

Location: Anna Liffey's is located at 1494 Post Road, Fairfield, CT 06824 (it's upstairs and the back of the bar is reserved for us.)

FREE: It is completely free and no pitches made! Although please purchase at least one drink from the bar - non-alcoholic is fine. (The drink and food prices are VERY reasonable, and great happy hour prices before 7pm.)

Easy to Network: At 7:45pm we go around the room so everyone can introduce themselves to the group and tell briefly what you do and deals you're working on - this has been an incredible tool to find who you would like to network with.

Parking: There is street parking and a free lot across the street from Victoria's Secret after 7pm. 

Train: Metro-North to NYC/CT is a one minute walk behind the bar - maybe if you have too much to drink and you're hobbling it will take an extra minute :)

Investors: We have had investors from all across the state, including: Fairfield County, New Haven County, Hartford County, Middlesex County, and NYC. 

@Chris L.

Depending where in Milford it is, I would buy 5.5/6-caps all day. However, I'm not sure that's helpful because the problem with cap rates is that investors might underwrite assumptions differently. Our underwriting might come in higher because we tend to underwrite with slightly higher vacancies, cap-ex, repairs and we'll always include a PM fee.

Also, I'm not sure where in Milford it is, but just make sure that you find it if you'll need flood insurance (which can be a rental killer). Many homes in Milford - even if they're already raised - are not raised enough according to new FEMA standards.

@Kevin Siedlecki I know someone in New Haven that came highly recommended

 in New Haven and he has come to our meet-up several times. I really like him, although I cannot vouch for using his work. Feel free to PM me if still interested.

Welcome @David Halprin