This Weekend's Foreclosure Auctions (12-28-13)

The following is a list of foreclosure auctions taking place through out Connecticut this Saturday, December 28, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

Connecticut Foreclosure Auctions

Due to the Holiday, there is only 1 Foreclosure Auction this week

Wethersfield:
898-904 Silas Deane Highway 

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here to let me know exactly what you're looking for.

 

"Diamond-In-The Rough" Property of the week

Not for the novice investor!!

 

50 Hassmar Road

Enfield, Connecticut

 

Asking Price is $21,780

4 Bedrooms 2 Full Bath, 1 Half Bath

1860  Square Feet

Built in 1942

Click Here for more photos & details

For more property information or to schedule a private viewing

Call Oleg Abramchuk at 413-246-0797

This week's "Diamond-In-The Rough" Property of the week is listed for sale by

First Nationwide Realty

Click Here if you're interested in finding more great investment properties!!

How I REALLY Feel About "Subject To's"

I'M NOT A FAN!! I’ve never used it personally and I don’t use it with my clients however, it’s very popular with those so called gurus on late night infomercials and people always ask me about it so I figure that I’d at explain what it is and why I don't like it. In all fairness, I’ll say that the subject-to method is a great way to finance a real estate investment quickly, though it will be a short-term solution. The name "subject-to" comes from the phrase "subject to existing financing." This means that you buy the property on the condition that the existing financing stays in place. The title is transferred, but the loan will stay in the seller's name, and the buyer will make the payments. The reason why this is a short-term fix is because seller's aren't going to be very comfortable leaving the loan in their name for an extended period of time. Some investors will use this method when they don't want to come up with a down payment, knowing they can refinance in six months and get the loan put in their name. This method is commonly used when buying pre-foreclosure properties. The investor gets into the property with zero down or by just paying the mortgage arrearages and the seller is willing because they have to get rid of the property immediately.
But here are a few of the reasons that I don’t like this strategy;

1. In order to do it "right", you must place the property in a land trust in order to hide the fact that you assumed the mortgage from the bank. If the bank finds out, they could call the mortgage due in full putting the seller back in the same position as they were before.
2. It’s unethical. As a real estate professional, I have built my reputation on Trust. The fact that I have to try to hide the assumption from the bank just makes me uncomfortable. I know that banks are big institutions and its not like I’m hurting anyone but I just feel like my integrity would come into question and I’m just not comfortable with that.
3. It’s not as easy as the “gurus” make it seem. Just imagine Joe Investor coming into your home to make his purchase offer. He sits down on your couch and tells you that you have to sign the deed to your home over to him (giving him ownership) but the mortgage stays in Your name (and if he defaults on the loan, there’s no penalty for him but you’ll end up with the foreclosure on your credit). Oh yeah, and make sure you don’t tell the bank or anyone else about this deal. I understand that it happens all the time, but it’s very hard to find a seller that’s willing to do something like that.

Again, I don’t use this strategy in my personally investing or with my clients. However, If you use this method to finance a real estate investment, just make sure you uphold your end and make the payments on time.

The Mortgage Expo Returns to Foxwoods

The New England Mortgage Expo is returning to the region Jan. 17, 2014 at MGM Grand at Foxwoods Resort Casino.

 

The largest mortgage expo in New England, it is sponsored by The Warren Group, which publishes The Commercial Record and keeps on top of industry trends such as home sales and foreclosures. On tap will be dozens of exhibitors, top industry speakers, live podcasting and networking opportunities.

The event, which covers both residential and commercial real estate issues, includes a buffet breakfast and lunch.

 

For information, visit www.nemortgageexpo.com or contact The Warren Group at (617) 896-5344 or via email at nemortgageexpo@thewarrengroup.com.

"Diamond-In-The Rough" Property of the week

 

Smoking Hot Deal!!

36 BLINMAN ST

New London, Connecticut

 

Asking Price is $28,900

4 Bedrooms 3 Full Bathrooms

1760  Square Feet

Built in 1870

Click Here for more photos & details

For more property information or to schedule a private viewing

Call Marilyn Lusher at 860-444-7362

This week's "Diamond-In-The Rough" Property of the week is listed for sale by

RE/MAX Home Team

Click Here if you're interested in finding more great investment properties!!

This Weekend's Foreclosure Auctions (12-21-13)

The following is a list of foreclosure auctions taking place through out Connecticut this Saturday, December 21, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

Connecticut Foreclosure Auction List

Ashford:

Bethany:

Bloomfield:

Berlin:

Bloomfield:

Bolton:

Branford: 
Bridgeport:

Bristol:

Brooklyn:

Chaplin:

Cheshire:

Colchester:

Coventry:

Cromwell:

Danbury:

East Granby:

East Haddam:

East Hampton:

East Hartford:

East Haven:

East Windsor:
35 Clark Road

Enfield:

Essex:

Fairfield:

Farmington:

Goshen:

Greenwich:

Guilford:

Griswold:

Groton:

Hamden:

Hartford:
285 MOUNTAIN STREET

Ledyard:

Lyme:

Madison:

Manchester:

Meriden:
Unit 7, Building 58, Meetinghouse Village
50 Sylvan Avenue

Middlebury:

Middlefield:

Middletown:

Milford:

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here to let me know exactly what you're looking for.



Monroe:

Montville:

Mystic:

New Britain:

New Canaan:

New Fairfield:

New Haven:

New London:

New Milford:

Newington:

North Haven:

North Stonington:

Norwalk:

Norwich:

Old Saybrook:

Oxford:

Plainfield:

Plainville:

Plymouth:

Putnam:

Ridgefield:
Roxbury:

Salem:

Salisbury:
63 Millerton Road

Scotland:

Seymour:

Somers:

Southbury:

Southington:

Stafford:

Stamford:

Stonington:
20 Old Stonington Road

Stratford:

Suffield:
100 Somerwynd Lane

Terryville:

Thomaston:

Tolland:

Torrington:
64 Millard St

Trumbull:

Vernon:

Voluntown:

Wallingford:

Washington:

Waterbury:

Watertown:

Wethersfield:

Willimantic:

Windam:

Windsor Locks:

West Hartford:

West Haven:
24 Norfolk Street

Westbrook:

Westport:

Wilton:

Woodbury:



Landlord Arrested After Bomb Threat

Bristol officials said they are undeterred in enforcing the property code banning blight after an out-of-town landlord was arrested, accused of threatening to blow up City Hall over a dispute about grass that was not mowed.

Police said Robert D'Aprile suggested he'd blow up city hall with a bomb and was arrested at his Stamford.

D'Aprile's lawyer says that his client was frustrated and had no intention of hurting anyone.

Guy Morin, the chief building official, said Bristol has a zero tolerance for lack of property maintenance.

He said the dispute was tied to a $1,600 bill from the city to D'Aprile for cutting the grass and removing debris after the landlord failed to do so.

This Weekend's Foreclosure Auctions (12-7-13)

The following is a list of foreclosure auctions taking place through out Connecticut this Saturday, December 7, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

Connecticut Foreclosure Auction List

Ashford:

Bethany:
264 Litchfield Turnpike

Bloomfield:
592 Bloomfield Avenue
52 Kenwood Circle

Berlin:

Bloomfield:

Bolton:

Branford:
 
Bridgeport:
85 Valley Circle
850 Atlantic Street, Unit 402
65 Steuben Street Unit 11 (aka Unit 29A)
250 Griffin Avenue

Bristol:
16 Buckingham Street

Brooklyn:

Chaplin:

Cheshire:

Colchester:
363 Chestnut Hill Road

Coventry:
1028 Bread and Milk Street

Cromwell:

Danbury:

East Granby:
4 MAIZE LANE

East Haddam:

East Hampton:

East Hartford:
1284-1288 Main Street & 27 Spencer Court

East Haven:
473 Strong Street

East Windsor:

Enfield:

Essex:

Fairfield:

Farmington:

Goshen:
361 Westside Road

Greenwich:
19 Division Street West
102 Hunting Ridge Road

Guilford:
136 Sperry Drive

Griswold:

Groton:

Hamden:
19 Manila Ave
711 Circular Avenue

Hartford:
583 New Britain Avenue
907 Maple Avenue

Ledyard:
1886 Center Groton Road

Lyme:

Madison:
72 Northwood Road

Manchester:

Meriden:

Middlebury:

Middlefield:

Middletown:
155 Carriage Crossing

Milford:
66 Nells Road

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here to let me know exactly what you're looking for.



Monroe:
96 Knorr Road

Montville:

Mystic:

New Britain:
456 GLEN ST
80 Cabot Street

New Canaan:

New Fairfield:

New Haven:
457 Huntington St
115 EDGEWOOD AVENUE

New London:

New Milford:

Newington:
95 Fox Run Court

North Haven:
15 Great Meadow Drive

North Stonington:

Norwalk:
2 Wilbur Street

Norwich:
287-291 Main Street

Old Saybrook:
4 Buck Hill Road

Oxford:

Plainfield:

Plainville:

Plymouth:

Putnam:

Ridgefield:
43 Dowling Drive

Roxbury:

Salem:

Scotland:

Seymour:

Somers:

Southbury:

Southington:

Stafford:

Stamford:
141 Grove Street, Unit M
73 Seaton Road, Unit 12-A-1

Stratford:
111 Fiddler Green, Unit D

Terryville:

Thomaston:
143 Reynolds Bridge Rd

Tolland:
279 Old Stafford Road

Torrington:

Trumbull:
9 River Bend Road

Vernon:

Voluntown:

Wallingford:
8 Crestview Terrace

Washington:

Waterbury:
181 Maybury Circle, Unit 1
56 Hinsdale Avenue
1044 Highland Avenue
12 Units Cedarwood Hill Estates Condominium Wakelee Road

Watertown:
1470 Litchfield Road
219 Parkman Street

Wethersfield:

Willimantic:

Windam:

Windsor Locks:

West Hartford:

West Haven:
269 Captain Thomas Boulevard, Unit 7
11 Botte Drive

Westbrook:

Westport:
12 Cobb Drive

Wilton:

Woodbury:
74 Washington Road Unit 12



"Diamond-In-The Rough" Property of the week

109 OLD COLEBROOK RD

Winchester/Winsted, Connecticut
 

Asking Price is $84,900

3 Bedrooms 2 Full Bathrooms

1,536  Square Feet

Built in 1963

Click Here for more photos & details

For more property information or to schedule a private viewing

Call Lisa McCarthy at 860-604-8723

This week's "Diamond-In-The Rough" Property of the week is listed for sale by

Coldwell Banker Res Brokerage

Click Here if you're interested in finding more great investment properties!!

Landlord installs hidden camera in West Haven apartment

A  Connecticut landlord is accused of installing a camera in a couple's apartment in West Haven, so he could spy on them as they showered. The West Haven police are searching for landlord Macros Torres, and want to talk to anyone who knows where he could be.

 

Police said he used a wireless GE camera to watch his tenants and their 6-year-old daughter while they were in their apartment bathroom. "We think that he actually went in there earlier in the months to fix a water leak in the shower," said West Haven Police Sgt. Dave Tammaro. "That's when we believe this camera was installed." The leak at the couple's apartment was never fixed. One of the tenants told police they felt water dripping from the ceiling, while getting out of the shower and looked up to see the area where the camera was hidden.

Police have an arrest warrant for Torres, but can not find him. Torres's former neighbors said they haven't seen him or his wife in at least a year, but they know police are after him.

 

Police did not release the exact location of the victims' apartment.

 

Anyone with any information about Torres's whereabouts are asked to call the West Haven Police Department at 203-937-3900.

Power Brunch Event

December 12, 2013

9-11 am

 

TAX STRATEGIES for the REAL ESTATE PROFESSIONAL

Are YOU overpaying YOUR taxes?

83% of Americans do....

This FREE seminar will help identify between $2,500 and $27,000 in NEW deductions

that can be used right away to pocket thousands in tax savings.

These deductions are based in tax LAW, but presented in simple English that all of us can easily understand.

Many of us assume our accountants take care of our taxes... but forget that WE are the ones giving them the numbers and records they are using to prepare our tax return.

What will YOU Learn?

Overview of the Tax Code Changes identified this year to help you become more tax efficient in your business planning for 2013/2014.

How the New 2013 tax law affects purchases of cars, computers and desks, as well as other equipment, for your Business.

Increase your income - How to use the tax side of your business to INCREASE your spendable income in 2013/2014!

Entertainment Strategies - 2 remarkable entertainment deductions available to Real Estate Professionals that may surprise you.

Double Entertainment Deductions - How to safely transform 50% entertainment deductions into 100% deductions.

Audit-Proofing - Documentation tips that will save you time, all the time.

Help Your Accountant - How you can help your accountant work more effectively on your behalf.

Car Strategies - Six methods that produce Thousands in deductions. PLUS!!! NEW first year auto depreciation deduction UPDATES!

Actual Expenses vs. IRS Method Mileage - New $25,000 automobile deductions you don't want to lose.

IRS Audit - Reduce your chances - Red flags to avoid!

Home Office Deduction -Why Real Estate Professionals may now safely qualify for this remarkable deduction and how it transforms personal commuting to deductible business miles.

Learn how a 105 Medical Plan can turn your family's medical expenses into tax-favored business expenses.

Presented by: Maine Shafer of Bradford and Company, Inc., and excerpted from the Bradford and Company, Inc. Tax Strategies for the Self-Employed audio course (available to register for after the program).

Maine Shafer

Maine Shafer, J.D., has a background as a tax attorney and professional speaker; He has been a national sales and motivational speaker and a radio talk show host. Maine has an extensive background in law: He received his Juris Doctor from Georgetown University Law Center, worked on Capitol Hill, taught law in the San Francisco Bay Area. He was an Assistant Attorney General for the State of New Mexico and attorney for the New Mexico Real Estate Commission.

GNHAR Members

Power Brunch

Thursday, DECEMBER 12, 2013

9:00 a.m. - 11:00 a.m.

127 Washington Avenue, North Haven, CT

Please RSVP by Noon Monday, December 9

via e-mail to Edward Sposito,

Edward@gnhar.com

Seating by e-mail Reservation Confirmation Only

Free Brunch and Seating is limited to the first 60 people who respond and are confirmed by e-mail.

No-shows will be charged $10.00

Walk-Ins will be charged $10.00



Connecticut State & Municipal Employees Can Borrow Against Retirement Accounts to Invest In Real Estate

If you’re a Connecticut state employee or an employee of a Municipality and want to invest in real estate but don’t think that you have the funds, I’ve got great news for you! If you have money in your Deferred Compensation 457 account, you may be able to use it toward your RE Investment. This is a great option but there are a few things that you must consider.

 

The Rules:

You can generally borrow up to 50% of your account balance or $50,000, whichever is less. You usually have up to five years to repay the loan, unless you are borrowing for the purchase or renovation of your primary residence, which allows a longer payback. Participants are permitted to take one or two loans at a time and a one-time set up fee may apply. Now, let’s go through the pros and cons of borrowing from your deferred compensation plan account.

Pros:
1. There is no credit check. You don’t have to apply for the loan, and you can make plans knowing that you will get the loan.

2. There is a reasonable interest rate. You pay the rate set by the plan; as of this post, CT state employees pay 5.55%.

3. It provides a reasonable return. Since you pay yourself the interest, it looks like a good deal.

4. The interest is tax-sheltered. You don’t have to pay taxes on the interest until retirement, when you take money out of the plan.

5. It’s convenient. You can apply online or make one quick phone call. Loan repayments (principal and interest), are generally payroll deducted on a biweekly basis.

Cons:

1. You pay more taxes. Since you repay the loan with after tax dollars the interest is double taxed, significantly increasing the cost of borrowing.

2. There may be consequences if you leave your job. If you leave your job the loan is due and payable or it will become taxable income in that year. (Any rolled over assets from non-governmental plans remain subject to the IRS 10% premature withdrawal penalty tax if withdrawals are taken prior to age 59 1⁄2.)

3. The loan isn’t tax deductible. Unlike a traditional mortgage, this is considered a consumer loan, so there is no tax advantage.

4. What are the consequences for defaulting on the loan? The borrower understands that if the loan is in default, the outstanding balance plus accrued interest (the “Defaulted Amount”) will be reported to the IRS for the year the default occurred. Interest will continue to accrue but will not be reported to the IRS until the loan is repaid or offset with a distribution. In the event of a loan default, the participant is not permitted to initiate another loan until the defaulted loan is repaid.

So as you see, there are a few things that you should consider before making this move. Everyone’s situation is different, but in general, I think that it's a great option when considering how to fund your next investment.

 

For more rules & regulations on investing in Real Estate with your 457 (Deferred Comp Plan) Contact me here!



 

 

 

 



This Weekend's Foreclosure Auctions (11-30-13)

 The following is a list of foreclosure auctions taking place through out Connecticut this Saturday, November 30, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

 

Connecticut Foreclosure Auction List

Ashford:
Bloomfield:
325 Park Avenue

Berlin:

Bloomfield:

Bolton:

Branford:
Bldgd 4, Unit 20, 420 East Main Street

Bridgeport:
491-495 Harral Ave aka 181 Lexington Ave

Bristol:

Brooklyn:

Chaplin:

Cheshire:

Colchester:

Cromwell:
5 Heather Court

Danbury:

East Haddam:

East Hampton:

East Hartford:

East Haven:

East Windsor:

Enfield:

Essex:

Fairfield:

Farmington:

Greenwich:

Griswold:

Groton:

Hamden:

Hartford:

Ledyard:

Lyme:

Madison:

Manchester:

Meriden:

Middlebury:

Middlefield:

Middletown:

Milford:

 

 

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here and fill out the form.

 

 



Monroe:

Montville:

Mystic:

New Britain:

New Canaan:

New Fairfield:

New Haven:
616 Winthrop Ave

New London:

New Milford:

Newington:

North Haven:

North Stonington:

Norwich:
101 Water St

Norwalk:

Oxford:

Plainfield:

Plainville:

Plymouth:

Putnam:

Roxbury:

Salem:

Scotland:

Seymour:

Somers:

Southbury:

Southington:

Stafford:

Stamford:

Stratford:
292 Roosevelt Avenue

Terryville:

Tolland:

Torrington:

Trumbull:

Vernon:

Voluntown:

Washington:

Waterbury:
19 Donald Terrace

Watertown:

Wethersfield:

Willimantic:

Windam:

Windsor Locks:

West Hartford:

West Haven:

Westbrook:

Wilton:

This Weekend's Foreclosure Auctions (11-23-13)

The following is a list of foreclosure auctions taking place through out Connecticut on November 16, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here and fill out the form.

Connecticut Foreclosure Auction List

Ashford:

Bloomfield:

Berlin:

Bloomfield:

Bolton:

Branford:
50 Bay Path Way, Unit E50
173 Monticello Drive

Bridgeport:
1416 North Avenue

Bristol:

Brooklyn:

Chaplin:

Cheshire:

Colchester:
347 Chestnut Hill Road

Danbury:

East Haddam:

East Hampton:

East Hartford:

East Haven:
26 Barberry Lane

East Windsor:

Enfield:

Essex:

Fairfield:

Farmington:

Greenwich:

Griswold:

Groton:
118 Brandegee Ave.

Hamden:

Hartford:
246-256 Albany Avenue

Ledyard:

Lyme:

Madison:
12 Pierce Lane

Manchester:
9 Norman Street

Meriden:
72 Windsor Avenue

Middlebury:

Middlefield:

Middletown:

Milford:
9 Ash Street

Monroe:

Montville:

Mystic:

New Britain:

New Canaan:

New Fairfield:

New Haven:
21 Orchard Street
231 Colony Road
1616-1618 Chapel Street

New London:

New Milford:

Newington:

North Haven:

North Stonington:

Norwich:

Norwalk:

Oxford:
215 RIGGS STREET

Plainfield:

Plainville:

Plymouth:

Putnam:

Roxbury:

Salem:

Scotland:

Seymour:

Somers:

Southbury:
40 Hilldale Drive
Southington:

Stafford:

Stamford:

Stratford:

Terryville:

Tolland:

Torrington:
144 Morningside Drive
138-140 Grove Street
16 Wilmot Street

Trumbull:
814 White Plains Road

Vernon:

Voluntown:

Washington:

Waterbury:

Watertown:
550 Litchfield Road

Wethersfield:

Willimantic:

Windam:
11 Charles Street

Windsor Locks:
10 Sadler Street

West Hartford:

West Haven:

Westbrook:

Wilton:

This Weekend's Foreclosure Auctions (11-16-13)

The following is a list of foreclosure auctions taking place through out Connecticut on November 16, 2013. If you'd like to bid on any of these properties, simply click on the property for more information.

If you're interested in purchasing Short Sale or Bank Owned properties in Connecticut, please click here and fill out the form.

Connecticut Foreclosure Auction List

Ashford:
7 Horse Hill Road

Bloomfield:
177 west newberry rd

Berlin: 

Bloomfield:

Bolton:

Branford:

Bridgeport:
113 Red Oak Road
158 Alba Avenue
100 Virginia Avenue
256-258 Davenport Street

Bristol:

Brooklyn:

Chaplin:

Cheshire:

Colchester:

Danbury:
22 Second Avenue, #8 Khona Woods

East Haddam:

East Hampton:

East Hartford:
73 O'Connell Drive
90-92 Great Hill Road

East Haven:
11 RIVER ROAD
46 Deerfield Street

East Windsor:

Enfield:
81 High Street

Essex:

Fairfield:

Farmington:
50 1/2 Mountain Spring Road

Greenwich:

Griswold:
21 Totem Lane

Groton:

Hamden:
134 Cooper Lane

Hartford:

Ledyard:

Lyme:

Madison:

Manchester:

Meriden:

Middlebury:

Middlefield:

Middletown:

Milford:
170 Brewster Road

Monroe:
327 Hattertown Road

Montville:
78 Driscoll Drive

Mystic:

New Britain:
290 Lawlor Street

New Canaan:

New Fairfield:

New Haven:
83 East Roack Rd
609 Winchester Avenue
294 KIMBERLY AVENUE

New London:

New Milford:
47 OVERLOOK DRIVE

Newington:

North Haven:
600 WASHINGTON AVENUE UNIT 6 A/K/A UNIT 6A

North Stonington:

Norwich:

Norwalk:

Plainfield:

Plainville:

Plymouth:
26 Orchard Street

Putnam:

Roxbury:
386 South Street

Salem:

Scotland:

Seymour:

Somers:

Southbury:
127 Linden Lane
5A Heritage Village

Southington:

Stafford:

Stamford:
6 West Trail
Campbell Drive, Lot C-1A & Lot C-1B

Stratford:

Terryville:

Tolland:

Torrington:
558 East Main Street

Trumbull:
640 Shelton Road

Vernon:

Voluntown:

Washington:
113 Woodbury Road

Waterbury:
150 SPRING LAKE ROAD

Watertown:
282 Neill Drive

Wethersfield:
31 Lorraine Road

Willimantic:

West Hartford:

West Haven:
600 Island Lane
Westbrook:

Wilton: