All Forum Posts by: Account Closed

here is an analysis of the property

https://www.biggerpockets.com/buy_and_hold_results...

I was supposed to go see the property today but the owner is busy plowing snow

Those are the rents listed in the sellers description online. I am not sure about those items Melissa Gittens

Originally posted by @Michael Noto:

Federal Hill is not a B+ area. No area of Bristol outside of near ESPN or on Chippens Hill is b+. 

Federal Hill is a C+/B area.

Southington, Plainville. Those are B+ areas. 

Ok thanks for the clearing that up Mike

Hello bigger pockets. I'm currently looking into buying a 3 family house in a B+ neighborhood in historic federal hill area of Bristol CT. The house has completely been renovated and fully occupied at the moment. I believe it's a very nice first investment property for myself but kind of expensive. I will be using a FHA loan and house hacking for 3 years. I will also manage and do all the maintanice myself. Please help me analyze this deal thanks.

Listing link: http://www.realtor.com/realestateandhomes-detail/1...

Asking price: 299,999 

Down payment: 3.5% 

Taxes: 4,600$

Rents: 1st floor (3 bedroom 1400 sq ft)- 1250$,  2nd floor (3 bedroom 1400 sq ft)- 1150$ , 3rd floor (2 bedroom 1000 sq  ft)- 850$

Utilities: tenants pay for water, heat, and electric (separate meters) 

Beautifully restored huge 3 family home located in desirable federal Hill section of Bristol, close to ESPN and hospital. Immaculate condition, almost everything new, including kitchens and baths, all new replacement windows, hardwood floors professionally refinished with 4 coats of oil based polyurethane,all new wiring and electrical panels (all knob and tube eliminated), new plumbing and washer dryer hook ups in each apartment, new interior and exterior paint 2014/2015, newer cast iron boilers, 1st floor has additional natural gas fired high efficiency Rinnai direct vent wall furnace, State and local fire code compliant with all new 90 minute fire doors and modern whole house fire detection system. Front and back hallways complete with motion sensor lighting for reduced electric bill, and new emergency lighting.

Hello bigger pockets. I'm trying to close a deal with a FHA 203k loan but I need to remove chipped paint. I need help trying to find a painter that is lead based paint certified in Connecticut. I have to submit a bid to the mortgage company. I'm having trouble finding a painter that is certified thanks.

I believe the myrtle beach market is going to blow up because of all the baby boomers retiring. If I can get this house paid off in 15 years I'll be 40 years old and have my retirement house paid off.

Hello bigger pockets!

I'm 25 years old and am in the process of buying my first multifamily (4 plex) in Connecticut. My parents are both retired and have recently moved to myrtle beach, sc. They are currently living with a friend but looking for a place to rent soon. They would be long term tenants for about 10 years. The market in myrtle beach seems pretty cheap right now and seems to have some promise for future snow birds. My question is, is the myrtle beach area (10 mile radius) a good area to invest in for the future or should I just stick to Connecticut for now? Thanks

Hello bigger pockets!

I'm 25 years old and am in the process of buying my first multifamily (4 plex) in Connecticut. My parents are both retired and have recently moved to myrtle beach, sc. They are currently living with a friend but looking for a place to rent soon. They would be long term tenants for about 10 years. The market in myrtle beach seems pretty cheap right now and seems to have some promise for future snow birds. My question is, is the myrtle beach area (10 mile radius) a good area to invest in for the future or should I just stick to Connecticut for now? Thanks

I know the heat will be a burden. I was planning on installing tamper proof thermostats to lower the heating cost.