All Forum Posts by: Phillip Tutino

Hi All!

Looping you in to my responses! Thanks again for your info & help!

@Eric Army@Justin Repp@Ashley St. Gelais@Account Closed@Brenda Hedges@Mark Nolan

@Raymond B. Thanks buddy! :) I was going to try and figure that out tonight. Clearly I have not posted much! lol

Ooops prior post was supposed to be @Ashley Wishinski

@Brenda Hedges

Yes I do have rental property but in CT. Nothing out of state. VT is also appealing for retirement down the road as it's wayyy cheaper than CT. Taxes alone here are in the worst top three in the nation so having rentals there now would give me a place to escape to down the road where I can magage them myself.

Hi All!

You guys are great I appreciate all the excellent feedback and this was very helpful! You are correct VT offers some unique situations like the Oil Heat $$ (@Eric Army)! I was told it uses 1200 Gallons per year to heat 3 units which I find hard to believe. I think it would be more. If you spent 16K on a four unit at an avreage cost of even $4 a gallon that 4000 gallons but oil I am guessing averged in the threes last year so prob more gallons. I would think my deal would use at least 3000 vs 1200 I was told. Ball park anyway

Yes also market conditions as well. I found out yesterday @Justin Repp that the McDonalds in Windsor closed. That's not a good sign form an economic standpoint. Also I found out the property is in the Flood Way, so I think I am going to pass.

@Ashley Wishinski I love the burlington area! My sister used to live there. We should talk further since you could potentially manage a property for me there if I find a deal.

@Nick Britton Thanks for chiming in! It is rented with a good double digit cap rate. I hear you about the winters! It has had the roof replaced 5 years ago and all windows replaced, Electrical was updated as well. Yes it's older like many multis up here. I agree VT is hit and miss so I need to dig a little deeper on demographics and take a ride up this week. There is one tenant on section 8. If I make the offer it will def be contingent on inspection.

On a side note how is FL working out for you? I have been trying to educate myself on that market as well with thoughts of buying something turn key there as well. Long term my plan is to leave CT as the tax burdens are ridiculous! :)

Hi All!
I live in Connecticut and came across an investor privately selling multi-family that cash flows well in Windsor VT. It's about 3 hours from where I live and with the lack of good deals on multis in CT I am seriously considering buying this property. Does anyone know anything at all about Windsor and the market there? Any info would be appreciated! Thanks!

I will attend.. Looking forward to my first meet up! 

Your tenant has the right to leave if it's not addressed and stay in a hotel. They can deduct daily rent from the monthly rent. That's my understanding of CT law. 

Make sure you get good quotes on snow removal. Some companies force you into a contract and you pay regardless of them plowing