05-21-2009, 11:34 AM
757 posts, read
1,134,509 times
Reputation: 587
Quote:
Originally Posted by
sgfludd
Well which professional should I ask? Of course every agent in the universe is trying to convince buyers it's the right time to buy. I called a couple property mgmt companies - of course they said the market was fine. It's tough to find an impartial "professional" who can offer a valid opinion.
I would call a real estate attorney or an investment management company.
Do you know how many of these foreclosures are owner occupied or rentals?
Keep in mind, rental laws always protect the tenant first.
05-21-2009, 03:45 PM
Location: New York City
2,271 posts, read
5,034,870 times
Reputation: 988
Quote:
Originally Posted by
sgfludd
It's on Dover St - one block off Rt 1 - near the old GE factory.
Hmmm...I wish you would have asked me before diving into this investment...LOL...I've been near that area, and it's not the best area at all. Lots of section 8 tenants, crime, and rough spots over there. The East Side of Bridgeport is probably the worst area in Bridgeport. Sorry to deliver the bad news. That area's not horrible, but it's not good.
The 'hoods that I'd recommend investing in are Brooklawn, Black Rock, the North End, Treeland, and maybe parts of the south end, near downtown. The east side was always an area I stayed away from....
Sounds like you might have your hands full. BUT, if you get section 8 quickly, that'll be your key....
05-21-2009, 04:48 PM
Location: Greenwich, CT
330 posts, read
830,887 times
Reputation: 79
Wow - I knew the East side was bad - and according to the listing this was "north" - probably because of the zipcode. Yuck!
05-21-2009, 05:03 PM
5,833 posts, read
6,113,329 times
Reputation: 2790
Quote:
Originally Posted by
sgfludd
It's on Dover St - one block off Rt 1 - near the old GE factory.
http://www.bilderkiste.de/phpcliparts/media/smilie_schlecht.gif (broken link)
05-21-2009, 05:10 PM
Location: Greenwich, CT
330 posts, read
830,887 times
Reputation: 79
Sigh....now to figure out how to get out of this mess I've gotten myself into.
05-21-2009, 05:21 PM
Location: Cheshire, Conn.
2,102 posts, read
4,261,609 times
Reputation: 485
Quote:
Originally Posted by
sgfludd
Sigh....now to figure out how to get out of this mess I've gotten myself into.
If you still have contingencies to be met (inspection or financing), this could be your way out.
05-21-2009, 05:24 PM
Location: Greenwich, CT
330 posts, read
830,887 times
Reputation: 79
Inspections are done...loan is in underwriting...darn it - I can't find a crying avatar
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