Rental Property Investor · New Britain, CT · Member since 2016 · 27 posts · 12 votes
Hello I’m considering investing in multi fam in Norwich ct due to my wife’s family living there but an unfamiliar with the numbers and rental economy out there as I’m from new Britain ct. Anyone familiar with that area and can educate me.
What type of investing are you seeking to do? Is this a partnership or just solo? Are you buying cash? Financing commercial? Or owner occupy?
What numbers are you looking for? Rents are decent but the area does not command high rent compared to other nearby towns. In general the economy here is stable assuming the pandemic continues to slow and casinos & businesses stay open. Norwich is not upscale community but is centrally situated among other diverse communities.
To be honest home values are a bit high right now and savvy investors are not buying unless they have a great strategy or can perform a flip within the time required to be profitable.