New aspiring RE Investor in Woodbury, CT

[Andrew Sampino]

Hello everyone,

My name is Andrew Sampino, I'm a fresh out of college 22 year old Engineer looking to get into rental property investing. I discovered the BiggerPockets podcast a couple weeks ago and have been hooked ever since. I plan to one day make enough cash flow to be financially free and create a prospering, successful, and self sustaining business through multiplex investing. Currently, I am working and saving money to fund a small multiplex for a possible house hack. If anyone has any suggestions on how I could expedite the financing part so I can get started sooner I would love to hear it! 

Additionally, I would greatly appreciate any success (or failure) stories about deals done in CT so as to acclimate myself a little more to what exactly I'm getting into. 

I plan to attend local REI meet ups soon and look forward to meeting like-minded folks like you all, Thanks!

Andrew

[Michael Noto]

@Andrew Sampino First off, welcome to Biggerpockets. It is always great to see others from Connecticut here on the forums. Definitely read and listen here on BP to as much info as you can on the house hacking strategy. In my opinion it is the best way to get started for several reasons as I am sure you have already seen through your research.

As far as financing goes, the route most go is a standard FHA 3.5% down owner occupant loan. Have you looked into that program? That is typically the way my clients have financed their house hack deals in the past.

While you are working towards saving for your downpayment and researching here on BP be sure to get out into the markets and look into towns/cities/neighborhoods that you may want to consider when you actively start looking for properties. The more research you do now and cross places off your location list the more focused your search will be. 

The people that I know that have been successful with the house hack strategy have been focused on what they wanted in a property because they took the time to drive the markets and prepare upfront. Then when something came up in their strike area that checked the boxes they were all over it because they didn't doubt themselves when it came time to pull the trigger because of the homework they had done.

Feel free to reach out anytime in regards to real estate investing in general or the local markets.