Rental Property Investor · New York City · Member since 2019 · 12 posts · 9 votes
Hey guys - I'm thrilled that I found this website and I'm quite astonished at all the information that it has to offer! I am currently a full time NYC firefighter (14 yrs on the job with possible retirement in 6 yrs) and per diem ER RN (7 yrs) looking to get into REI by buying and renting out properties for long term wealth generation. I love being a FF and a RN but I am getting a little sad of being away from my 3 girls for so many hours each week "punching the clock". I've always wanted to get into real estate but now I feel that I am ready. I've cleaned out the local library of all the REI books that I could and I am trying to educate myself.
I am looking to get into the market in a few areas: Shoreline area of Connecticut and Long Island. But I am open to anything at this point. My goal in the beginning is to hook up with an experienced investor at some point to see how this works. I am no stranger to hard work and I look forward to launching this new career!
Welcome to the BP family. Thank you for your services. I am also an RN and spending time with my 2 daughters more is the reason why I went into REI. The only thing I have say to you for now is, figure out your real estate niche. Do you want to go into buy and hold, fix and flip, wholesaling or a mixture? Once you figure that out, things get a little easier. As newbies we tend to get over excited and want to do everything. NO. Streamline yourself so you don't complicate your life.
Property Manager · CT · Member since 2014 · 687 posts · 329 votes
7y
Hey Timothy,
The first steps I would recommend as a new investor is to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport CT. Connecticut in general is in a sellers market. You will need to be creative in negotiating to get the price / terms you need. You can use the Bigger Pockets calculators to start. Right now rents are strong, you can get $800 for a 1 bed, $1100 for 2 bed, and up to $1300 for a 3 bedroom (in Bridgeport). Use Zillow and rentometer.com to get data and analyze a few "comparables" with the investment property, to see what type of returns there are. If these meet your investment criteria then start looking in person by contacting the listing agent. Let me know if you have any questions.