All Forum Posts by: Michael Doherty

@Craig Chrzanowski a lot of great advice on this thread. Just like many other things, real estate is a numbers game. View as many houses within your budget/criteria and make as many offers as you can. You'll eventually become comfortable enough to make offers prior to viewing the property. All these things are free to do as well. Let me know if you ever have any questions about the area. 

Sounds like a good plan to me. I would suggest educating yourself with the markets as much as possible, reading books, listening to podcasts and posting on the forums like this. Soak up as much information as possible. Then when the time is right you'll be in a great position to take action. Good luck! Let me know if you ever have any questions regarding the market in Ct. 

Hey @Account Closed I would be happy to connect and help you out in the markets of New Britain and Hartford. One thing I will say is you can absolutely find great cash flowing deals in New Britain....Hartford may be a little tougher because of higher taxes but still doable. Additionally, New Britain, akin to Hartford is very street by street dependent. For example, I own property in New Britain on one street... but wouldn't buy the next street over. It sounds strange but it's true. 

If you ever have any questions about what areas to avoid in New Britain or Hartford, don't hesitate to reach out. 

@Ron Hughes congrats on starting your real estate journey and already figuring out a niche you want to pursue, awesome stuff! After you move to Arizona, do you still plan to buy property in Ct and manage long distance or hire a PM? Or are you looking to buy local in Arizona? 

@James Wise haha I can tell you it's nothing like that show in real life...as I am sure you know. I'll keep you updated once it sells. 

@James Wise Hi James- not sure if you are still looking for people for your podcast, but I'd be willing to help out. I only have 1 flip under my belt (marketing it soon) but I have done BRRRR's, house hacking (living in my 2nd house hack currently) buy and holds, off market deals ect. My gf and I are 25 and 26 and have a small portfolio of 13 units. If we can be any help, please reach out.

@Leslie Ann Oliveira can you fund 10% yourself and raise the additional 10%?

@Preetinder Singh Hi Preetinder- congrats on the development deal, awesome stuff! I work with local investors in Hartford County on the commercial side to help place retail clients. Let me know if I can be of any help or resource. 

@Joey Freda Since I am new to being an RE agent I honestly cant really speak to what cbrokerages are better than others. I knew what team I wanted to join because of the history and the type of industry they are in. From my understanding not all RE brokerages have a MF or commercial arm... they are geared more towards residential single family houses.

I joined a team that specializes in multi-family and commercial property. If I was going to do residential property I would probably join Keller Williams... I have a few family members who work for them and cant speak more highly of the firm... great splits as well.

Some questions I would ask around is... what fees do I have to pay? What's my split? What support/marketing do you offer?

I am sure there are 100's more questions to ask but these are some that come to mind. Sorry I couldn't offer more guidance. 

@Marek Narewski congrats on closing and finishing up your first project, sounds like you caught the 'bug'!

As a 26 year old I can empathize with you 100%. I also house hacked my first duplex in New Britain in 2016 and still own it to this day. Financing your next purchase will all depend on your personal savings and how you financed your 1st property. My hunch is you used a low down loan to acquire it? If not, then I would look for a 3-4 unit and use an FHA to buy your next property.

If you did you use a low down FHA loan, I would save enough capital to do a BRRRR. I did a BRRRR for my 3rd property and wish I had done it sooner. I wrote about that BRRRR HERE

It was completed in Middletown, Ct which is my 2nd favorite market after New Britain. Other areas to consider are Bristol and Manchester. 

My advice would be to save up enough to do a BRRRR so you don't run into this issue again and can reuse the capital your currently saving. If you ever have any questions about specific areas around Plainville, New Britain, Middletown or how the BRRRRR works feel free to reach out.