Out of state real estate from Hartford CT area

10 Replies

@Joshua Levine @Natasha Dillon i am investor in new britain. i actually have been helping a lot of people from NY and NJ navigate their buying process in that town. happy help. i lived there for 11 years and own a bunch of properties there.

I am looking for out of state real estate and evaluating various locations. I am based in Seattle and have rental properties in Chicago, IL and Little Rock, AR and trying to compare the markets and invest. Can you give me some good deals in Hartford, CT so I can understand the ROI and Cap rate in the area is.

@Natasha Dillon As others have mentioned there are always people looking to invest here from the surrounding states because cash flow tends to be better here. What I typically tell people is buy in the best area you can where the cash flow still makes sense. 

This may require you to spend a little more than you plan on, but the properties in the better areas attract better tenants and more importantly better property managers which a lot of out of state investors need in order for the investment to be a success long term. Bad property managers cripple out of state investments. 

@Natasha Dillon We manage a couple hundred units in the Hartford/West Hartford area. (almost all for out of state investors). My one piece of advice is to be careful what areas you purchase in. Don't get caught up in the high cap rates because there are a lot of bad neighborhoods.

@Natasha Dillon   As many others have said, Hartford county is a great place to invest for cash flow. I specifically like New Britain, Middletown and Manchester, I own or have owned property in all three towns. I personally don't like investing in Hartford because of the high taxes and I think there are better opportunities/neighborhoods in surrounding towns like the one's mentioned above. Let me know if you ever have any questions.