New Investor in West Hartford, Connecticut

New Investor in West Hartford, Connecticut

New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes

Hello BP, my name is Mike Guenther and I am taking the plunge into the complicated and exciting world of real estate investing! I am 24 years old and living in West Hartford, Connecticut. I work at Pratt & Whitney as an engineer where I get to help design and test next gen military engines. I did my undergrad in mechanical engineering at Penn State University and am currently attending online classes for my MBA from Indiana University.

I bought my first residential property in May, 2019. It is a single family home near Blueback Square in West Hartford that I am currently house hacking with two roommates who are friends of mine. I have been beginning to read books on real estate investing as well as listening to the BiggerPockets podcast. I have attended some local meet ups and find them to be very helpful at meeting experienced people and being able to learn about the business from people who have been doing it in the area.

My short term goal is to try out some renovations on my current house (kitchen, bathrooms, basement, etc.) and pull out some additional equity through a refinance or HELOC to use on future investments. In the near future I want to begin building a portfolio around the Hartford area with a focus on buy & hold of single family homes, duplexes, and triplexes.

In my free time I love to play sports like volleyball, basketball, and others to stay active. I am a very outdoorsy person and enjoy hiking, backpacking, and camping. I love to travel and try to go on one or two big trips each year to a new part of the world. I am also slowly working on getting my pilot’s license as time allows and hope to eventually build and fly my own plane.

I am looking forward to getting started and any advice people have for newcomers to the business or good local meet ups to attend would be greatly appreciated. I’ve only been a member of the BiggerPockets community for a short time but think it is an incredible resource and I hope to give back to the community as I learn and grow.

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Real Estate Agent · West Hartford, CT · Member since 2016 · 449 posts · 476 votes
6y

@Mike Guenther congrats on getting started Mike, you definitely came to the right place for information and connections. Keep educating yourself by listening to podcasts and commenting on the forums. There's 2 local meetups that meet once a month I would suggest attending if you have the time. 

The first meeting is in Manchester, Ct. @Scott Hollister hosts the meeting.... many awesome guest speakers that provide tons of free value add information. 

The second local meeting is in Glastonbury.  @Stephanie Cabral hosts this meeting and it's a great way to get your name out there and connect with like minded people (also very valuable). 

Let me know if you have any question or if I can be a resource in anyway. 

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  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    6y

    @Mike Guenther

    Welcome to the BP family! Good to have you here! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: https://www.biggerpockets.com/podcast

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

  • Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
    6y

    Welcome to BP, @Mike Guenther. No better place to learn about REI. I worked in West Hartford many moons ago. Great town.

    @Scott Hollister, runs a Central CT meet-up that's worth checking out.

  • Real Estate Agent · West Hartford, CT · Member since 2016 · 449 posts · 476 votes
    6y

    @Mike Guenther congrats on getting started Mike, you definitely came to the right place for information and connections. Keep educating yourself by listening to podcasts and commenting on the forums. There's 2 local meetups that meet once a month I would suggest attending if you have the time. 

    The first meeting is in Manchester, Ct. @Scott Hollister hosts the meeting.... many awesome guest speakers that provide tons of free value add information. 

    The second local meeting is in Glastonbury.  @Stephanie Cabral hosts this meeting and it's a great way to get your name out there and connect with like minded people (also very valuable). 

    Let me know if you have any question or if I can be a resource in anyway. 

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Dmitriy Fomichenko

    Thanks for the recommendations Dmitriy! I’ve gotten started with a lot of what you listed above and will continue working through all the podcasts.

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Michael Doherty

    @Jaysen Medhurst

    Thank you for the warm welcomes!

    I went to @Stephanie Cabral's meet up last week and had a great time meeting some new people.

    I would be very interested to attend @Scott Hollister's meet up in Manchester if someone could point my in the right direction to get more info.

    Thank you!

  • Rental Property Investor · CT · Member since 2015 · 400 posts · 432 votes
    6y

    @Mike Guenther just posted for March, link here: https://www.biggerpockets.com/...

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Scott Hollister

    Thanks for the info! Looking forward to attending.

  • Real Estate Agent · Bethel, CT · Member since 2018 · 17 posts · 8 votes
    6y

    Welcome @Mike Guenther! House hacking is an awesome foot in the door, you're well on your way!

  • Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
    6y

    @Mike Guenther congrats on your first property in west hartford. most of my rentals are in new britain, but i do have a single family house that i rent out in the elmwood area of west hartford. highly recommend attending the meetups listed here. if you have any questions at all, i am happy to help. i have been doing rentals in the central ct area since 2012 and have had much success doing so. more than happy to share my experiences, contacts, or anything else that you need!

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Ryan Deasy

    Thanks Ryan! I would definitely love to hear more about some of your experiences in Connecticut and how you’ve been managing the long distance business. Your website looks really well put together and I like the concept of it! At $2/unit/ month that is very affordable for people. I will definitely have to read some of your blog articles if you have any specific ones in mind that would be best to start with.

  • Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
    6y

    @Mike Guenther yes, happy to share my experiences! RentReddy is pretty great. Thanks for taking a look at it. happy to explain more about it anytime or when we talk next. as far as articles go, here are a few of my favorites!

    https://www.biggerpockets.com/blog/earn-15000-month-rentals

    https://www.biggerpockets.com/blog/3-things-i-learned-hard-money-deal

    https://www.biggerpockets.com/blog/how-being-a-real-estate-investor-has-changed-my-life

    Depending on what exactly you are looking to do with your investing, i can recommend a few others too. let me know what other questions you have. 

  • Real Estate Agent · Suffield, CT · Member since 2019 · 6 posts · 7 votes
    6y

    Welcome @Mike Guenther! West Hartford is a great town and with a location close to Blue Back Square you'll never have a shortage of folks looking to be able to walk to downtown from home! If you're looking for Multi's in the area definitely check out what comes available in Tariffville. In addition to being an agent I'm the head winemaker at Rosedale Farms & Vineyards in Simsbury so I've gotten to know the area a bit the last six years. If you ever stop by the vineyard be sure to say hello! 

  • Member since 2020 · 5 posts · 2 votes
    6y

    @Mike Guenther hello! We're recent transplants to CT, and we're close by! We have a rental in SoCal that we're looking to sell and buy something here to invest. I'd love to house hack but we already have a house!

    @Morgan Wilson I love Rosedales! 

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Morgan Wilson

    Very true! I knew that being within walking distance of the town center would be a big draw if I ever needed to sell the house or shop for tenets. Head winemaker sounds like a very exciting job with a lot of benefits I’m sure. 🍷🍾 If I’m ever up in that area I’ll make sure to swing by and pick up a bottle after Erin’s glowing endorsement above. Lol

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Erin D.

    Welcome to CT! Sorry it’s not as warm here as SoCal. I wish you the best of luck in the sale of your old home and the investment in your future Connecticut property!

  • Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    Welcome to the REI world @Mike Guenther!

    Sounds like we are doing a lot of the same things. I am also in a live in flip / house hacking situation right now. It's worked quite well - maybe too well, LOL. I've not done too many renovations because the financials are strong enough that I can focus my efforts on other things - like running my property management business, CT Property Management. 

    Kudos to you on the traveling and such. My girlfriend and I did an 11 day trip up to Nova Scotia back in '17 where we packed her truck, the dogs and everything we needed to live in the back of it. Killer time. Planning a trip to the Adirondacks this year, we hope. 

    Anyway, I'm in East Hartford and West Hartford pretty often as most of my days are spent in Hartford County. Let me know if you ever want to grab coffee and shoot the sh*t. My girl and I could probably recommend you to some decent local hiking spots as well - I'm not sure how familiar you are with CT.

    Be well! 
    FP

  • New to Real Estate · West Hartford, CT · Member since 2020 · 16 posts · 11 votes
    6y

    @Filipe Pereira

    Hello Filipe,

    Sounds like your house hack is working out great! I’m planning to renovate my basement in the next couple weeks for an increased cash flow opportunity. That will be my first major renovation to the house but it definitely is tempting to focus efforts elsewhere when everything is running smoothly at home.

    Both those trips sounds awesome! I’m sure the Adirondacks will be a solid trip. I’m always down to get some good recommendations on local hikes or grab a bite to eat sometime when you’re in the area!

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