All Forum Posts by: Sean Lynch

I have rentals and flip in Danbury to answer the last part of your question. Are you looking in the area?

I live in Brookfield CT and we have been house hacking since we bought in 2014. We have separate electric and it is an approved apartment. We cover heat/hw, trash, and snow removal. I was apprehensive at first but it has been a great investment and allowed us to buy other rentals in the area. Feel free to reach out if you have any questions or need more advice.

 I own multis in Danbury CT. It has become very expensive for small multis. I have a large two family with extra finished space that I can’t convert to another apartment. It just appraised at 650. 

There are 3 partners purchasing a 2 family house. If the house is 200k how is the debt to income reflected with each individual partner? I was told by a broker who I'm not familiar with that the full mortgage amount is applied individually to partners DTI. Does this seem correct?

@Cody Benedetto I flip in the Danbury area. I would’ve already left CT if it wasn’t for the massive influx of NY buyers. People seem to be hedging their moves far enough away but still able to commute to the city. My wife is a realtor and the amount of NY clients she has is astounding. We’ve decided to continue investing here in CT both flips and rentals. We will see when and if the wave of NYers ends.

@Fab Ragh

Lack of evictions has slowed down the available foreclosures. I used to get off market foreclosure lead from small local banks but they haven’t been able to move forward with the evictions. We also have seen some off market owners particularly elderly who wanted to move are now staying put for the time being. I’ve also seen people willing to move into houses that need a light rehab just because mortgage rates are so low they figure they’ll fix it and live in it at the same time. All of these factors make the buy side of flips extremely competitive.

@Dessiny Johnson

I’d be interested in taking a looking if it’s in Fairfield or New Haven County.

@Filipe Pereira

Good advice and 25k per door for full gut seems very light.

@Fab Ragh

I currently have flips under way in Southbury and Brookfield. Due to COVID the competition for flips is very tough right now. On the other hand we’ve finally seen property values go up in this area as well. There are a lot of people from NY piling in here. I’d be happy to help any way I can. I’m a contractor with subs in every trade and my wife is a realtor. Let me know if you need anything.

Sean

@Campbell Agyei

I flip and buy/hold in CT where is the property located? What aspects do you need help with?

Sean