All Forum Posts by: Jonathan Makovsky
Jonathan Makovsky has started 87 posts and replied 787 times.
Post: Will be renting to our daughter.
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Welcome @Angela Anderson! I agree with @Bill Wallace. While working with family might be tough it can be a good situation too. Only you can assess your family situation since you know all the details. So go with your gut!
Other people on this post made great points of true potential pitfalls that could be damaging, so if you will rent to her have her sign a formal enforceable lease like @Elizabeth Colegrove suggested and let her know that this is what all [responsible] landlords will do.
Best of luck and keep us posted.
Post: April 28th, 2015 Meetup in Manhattan with Author and Podcast #82 Special Guest David Krulac
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
@Darren Sager, can't wait to be there and thanks for organizing. This is always a fantastic event.
Thanks @Matt Rodak for sponsoring.
Post: CONNECTICUT by way of VIRGINIA
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Welcome @Matt Kleczkowski
Post: Just sold my first flip, made a profit!
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Congrats @Craig Shute!
Post: The Recent BP Podcast with Jeff Greenberg on Multi Family
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
@Michael Worley great perspective. Thanks for sharing.
Post: New member joining from Connecticut
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Originally posted by @Raymond B.:
I can't remember who is arranging it, but they are doing Meetups in the Hartford, Ct., area, once a month.
Hopefully that person will respond to this thread.
Raymond
@Account Closed
Post: New Personal Best on Buy, Full Rehab, Sell- 3 months 1 week
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
@Derek T. House looks amazing - congrats!
Post: Subject To: Flip Deal
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Originally posted by @Bill Gulley:
Better is buy it sub-2 and rent it. Then you can sell it if the bank calls it, if you lease-option it, you will have a harder time exiting from that contract. Rent for a few months, a year, see how things go. You need to 1. be able to payoff the loan or 2. sell it if you fail at a refi./payoff. Finding buyers that can buy in 6 months can be tuff in reality, but there can be a few out there. :)
Thanks so much Bill. This particular deal isn't best suited from a return standpoint as a rental (it would be fine as a possible exit strategy, but not best case). Our best case here is fix-and-flip or wholetail.
Post: Subject To: Flip Deal
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Originally posted by @Brian Gibbons:
It wouldn't hurt for you to be licensed in the state of Conn but act as a business principal and not "acting agent for"
Thanks again Brian. I am licensed - although I'm not sure I followed what advantages that gives me in this situation different than someone who is not licensed. Can you clarify?
Thanks.
Post: Subject To: Flip Deal
- Investor
- Fairfield-New Haven-Hartford County, CT
- Posts 825
- Votes 413
Thanks so much @Brian Gibbons.
Just so I understand correctly, can you confirm if this is correct:
- Option 1) Purchase subject-to, then re-fi out. [Good option.]
- Option 2) Purchase subject-to, then fix-and-flip it asap. [Good option.]
- Option 3) Purchase subject-to, then sell it with existing financing in place to new buyer. [NOT a good option.]