Rental Property Investor · Bridgeport ct · Member since 2017 · 73 posts · 22 votes
need help in investing in Connecticut. started in Bridgeport and.now may be looking in New Haven. neighborhoods look a little cleaner and so do the houses .
Attorney · Rutherford, NJ · Member since 2015 · 132 posts · 168 votes
8y
@Ricardo Diaz I think both are good options for different reasons. I see New Haven as a long term play, with Yale and the other schools there continuing to expand/buy up more property and improve the area. This has already happened in the past 20 years (to New Haven's great benefit), and will definitely continue. The #2 largest endowed university in the nation is going to wealthy and around for a very long time, and will continue to expand. If you can buy cheaply in a somewhat less desirable area now, but still arguably within the someday-Yale bubble, and cash flow OK for now, I think that's great (and you can probably do better than "OK" if you are patient, though the market is competitive).
Bridgeport's proximity to NYC is a huge boon. As more and more people get displaced from from NYC due to high rents, CT and NJ are going to benefit, and have been already. CT's relatively lower taxes than Westchester or NJ are also a big advantage. I'm not entirely sure if there's a similar "thesis" for Bridgeport as there is with New Haven and the universities, except for its proximity to NYC (which, obviously, is super great).
If I were you, I'd probably look to New Haven, just because I think essentially betting on Yale long term is a strong play... but I think both offer compelling options. Good luck!
It really depends on what's important to you. You're from Greenwich so Bridgeport is closer for you. But New Haven has some of the lowest vacancy rates in the country. Are you looking to manage the property yourself?
Attorney · Rutherford, NJ · Member since 2015 · 132 posts · 168 votes
8y
@Ricardo Diaz I think both are good options for different reasons. I see New Haven as a long term play, with Yale and the other schools there continuing to expand/buy up more property and improve the area. This has already happened in the past 20 years (to New Haven's great benefit), and will definitely continue. The #2 largest endowed university in the nation is going to wealthy and around for a very long time, and will continue to expand. If you can buy cheaply in a somewhat less desirable area now, but still arguably within the someday-Yale bubble, and cash flow OK for now, I think that's great (and you can probably do better than "OK" if you are patient, though the market is competitive).
Bridgeport's proximity to NYC is a huge boon. As more and more people get displaced from from NYC due to high rents, CT and NJ are going to benefit, and have been already. CT's relatively lower taxes than Westchester or NJ are also a big advantage. I'm not entirely sure if there's a similar "thesis" for Bridgeport as there is with New Haven and the universities, except for its proximity to NYC (which, obviously, is super great).
If I were you, I'd probably look to New Haven, just because I think essentially betting on Yale long term is a strong play... but I think both offer compelling options. Good luck!
Rental Property Investor · Bridgeport ct · Member since 2017 · 73 posts · 22 votes
8y
Thanks John . Very insightful and with Yale definitely makes it a long term goal and that is what I am looking for . I've started in Bridgeport and I'll see what's available but New Haven does look nicer. Anyways thanks