New Member/New Investor From CT in CA

15 Replies

Hello everyone!

I am a New Investor from CT living in Los Angeles California. I am looking to learn as much as possible and assemble a team so that I can invest out of state in the Connecticut market by the end of this year.

Some background on me: I am 25 and currently operate a Social Media Management company where I build my client's Social Media accounts. I also teach classes, do consultations, and other things related to Social Media. I am looking to invest in real estate to build a healthy flow of additional income. I have enough for a down-payment or 2 for potential properties and have a partial team ready.

In Connecticut before I moved to CA I was a plumber for my step-father who ran a plumbing company of his own, So I have a full team of contractors that I could use for any work my properties needed. Since I will be investing out of state I still need to find a great Realtor and Property Management Company. I am very familiar with the Milford, New Haven, West Haven, Orange, Ansonia, and Shelton areas, and would prefer to invest here if possible, but I am not locked in to them by any means if a great deal is elsewhere.

I would love to connect with others on here whoa re familiar with those areas as well, have invested in the areas, can shed insight, and if needed I can provide insight to the Social Media world. Happy to have a mutually beneficial relationship!

Thank you!

Welcome to BP! Have fun building your out of state team! I'm currently in process doing the same in Indianapolis, IN and Kenosha, WI so any tips you come across I'd love to hear them.

Welcome to the forums. As a CT based investor what are you looking for? Single family, apartment, small multi, commercial? You might want to try to come back and network at a couple of the local meet ups to figure out what and who you want to work with.
Originally posted by @William Collins :
Welcome to the forums. As a CT based investor what are you looking for? Single family, apartment, small multi, commercial? You might want to try to come back and network at a couple of the local meet ups to figure out what and who you want to work with.

Oh sorry, forgot to include that I am looking for a multi-family to rent out or commercial if I can learn more about that field and it is as lucrative as a multi-family. Would i strongly benefit me to fly back over there just to attend a local meet up, or would i be able to do that through this forum instead?

@Ilmar Molder string is relative. The property types you listed require capital and are you comfortable with just a virtual handshake, some photos, and move into partnership. Our would you want to walk through and make sure your partners are who they say they are and their projects align with you.

@Ilmar Molder , welcome to BP.  I am also from CT, but live out of state and I invest in CT multi-familiy.  Reach out to discuss specifics some time.  I am happy to provide you with some insight. Good luck!

@Ilmar Molder Hey there welcome to BP, I am actually in a somewhat similar boat here, I am originally from Los Angeles and I have lived in CT for the past 9 years. I have one rental property in CA (Fresno Area) and about 5 properties here in Southeastern CT. I am in the New London area, I am an electrician by trade but also manage all of my own rentals in the area and I do have connections as far as agents and lawyers in New London County. Good Luck and feel free to reach out if I can help in any way.

@Ilmar Molder CT seems like a great place to invest out of state. Like yourself, I am currently living in Los Angeles county however looking to invest out of state very soon. I have been thinking about investing in the surrounding Phoenix area however am open to new ideas. Would love to connect with you to keep you in my group of network. Regards, -Marvin Lara
Originally posted by @Ilmar Molder :

Hello everyone!

I would love to connect with others on here whoa re familiar with those areas as well, have invested in the areas, can shed insight, and if needed I can provide insight to the Social Media world. Happy to have a mutually beneficial relationship!

Thank you!

Hi Ilmar, I think I fit the bill pretty well with what you're looking for here, although most of what we touch here in CT is in Hartford county. If you have any questions about the MFR arena here, or property management, feel free to ask away. I'll try to monitor this thread so I can jump in with any info that would be beneficial to you and the others.

Be well!

Hi @Ilmar Molder Welcome to BP! I am a CT investor too and if you think to expand to the Fairfield County; especially, in Bridgeport, Stratford, Stamford, etc, please let me know as I have a great team and always new deals coming in. Furthermore, I know the market very well and have seen consistent growth over the years. 

Although I do property management for my own houses, I like to recommend @Craig Bellot to manage other properties, as he is very professional. 

Good luck and feel free to contact me anytime.

Welcome to California! I'm originally from Southern California, but lived in New Haven for 4 years. We bought a condo that we lived in, near Quinnipiac River, that we now use as a rental since moving. Which area are you most leaning towards for investing?

Hello all,

It has been a long time since I have been on this forum, but I am looking to start reading more and becoming more versed in possibly building up a rental property portfolio. I would like to know if anyone feels my goal is realistic, and if not that will let me know how I may need to adjust to see if this would be viable for me.

Work has become heavy (in a positive way), that I have been able to build up the capital for multiple properties, however my time has become completely sucked dry. I would not be able to put in the time to research deals, and do all the ins and outs of real estate investing that make it a second job, however I am more than happy to pay a premium to have this done for me.

I still want to focus on investing in properties in CT, mostly New Haven, Bridgeport, Milford, West Haven, and surrounding areas. I live in California, and would want a property manager regardless. I am happy with giving them their cut to manage the property even if I lived in CT, I wouldn't be able to put the time into managing my own properties nor want that headache.

Is it possible to assemble a team to help find the properties for me, and have them calculated to see if they can cash flow in that market? What is the best way to find a way to trust team members/check their credentials? If people can calculate these things for me and find me these properties, wouldn't they just do that for themselves instead of helping me?

I do not want partners in owning the real estate.

I have very strong relationships with contractors in CT in all fields as I was a plumber there for 4 years, and still have family there/visit, which is why I prefer CT (and California is expensive for now).

@Ilmar Molder g i live in houston and invest in CT and manage everything myself. however i certainly respect that you want a manager and also someone to find and calculate deals. to be honest, yes you’re sort of right that someone may just keep the deals for themselves. i guess what comes to mind is that you need to find a really good agent that is familiar with investments and also a really good wholesaler. both of those people are fully capable of running numbers for you and helping you like you’ve described. i invest in the central CT area but may be able to refer someone to you.

Hello @Ryan Deasy ,

I appreciate your response. I imagine managing the properties yourself is a full time job, and if anything were to happen to my current one I would not be against it, but can't for now and would happily have a property manager. How do you manage to manage the properties from so far?

If possible I would happily speak to your referral. I am not too familiar with Central CT, but it is not too far off that its out of the question.

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