Investing in Waterbury CT

[Tyrone Watler]

I really don't want to give up on my farm area here in Yonkers NY. Which I'm going out tonight to put out my bandit signs.  But tonight I had a hour long conversation with my finance guy and he tried to explain the map of investing in a 60K-70K sfr putting in 20k-30k into it and selling it for 150k. To make money and then buy and hold multi family houses up in Waterbury. He was telling me the key is to work with a real estate agent that really knows how to find deals with equity. Who he knows and will introduce me to next week.  And the whole tax burden that I would have in NY I won't have to worry about it in CT. Just wanted to write a post to see if anyone is investing in CT and how it's going for them.

[Jason Arcuri]

a pour of people don't want to incest in Waterbury first a few reasons and one of the biggest reasons is the mill rate.   They have one of the highest in Connecticut.    That being said,  rents are usually 650-850 a unit and I just talked to an appraiser earlier this week that told me 4 families in the nicer areas are selling around 225 to 235k.  He called me wondering how many client got his for 195k. Like with any city,  the more you move into the "less desirable"areas the better the return on investment.  

There was one neighborhood I did a cma for and 4 families sell for about 110k.