Looking to Invest in CT market

[Jared Maches]

Hello everyone on the Bigger Pockets website! My name is Jared Maches and I am a newbie investor. I am currently going through the market to figure out where to start my investment portfolio. I want to invest in Buy and Hold to start off with, but preferably I want to stay away from fixer uppers because I would be a new investor and I could undervalue my construction and it could really bite me. Connecticut is not a super cheap market by any means, but I feel like people are moving into our cities more. For example, in my area Torrington, Connecticut is seeing an upwards trend right now of about 4-5% home increase over time. Now the thing is, there are a lot of off market deals that happen and it's hard to find the right ones. Any areas you fellow CT investors are liking? Please share below I look forward to your answers!

[Jared Maches]

Originally posted by @Jaysen Medhurst:

@Jared Maches, there are a lot of rabbits to chase in REI. Try to stay focused. That doesn't mean your strategy doesn't evolve, just don't run after every shiny thing you see.

I would recommend that you find the area you want to focus on and then use your capital to house hack a MFR property. 3- or 4-unit is preferable. You can use a low-down payment loan, live there for a year or two and then turn it into a pure investment property. Make sure you run the numbers both ways, so you know it works once you move out.

Thank you Jaysen, I never really thought about house hacking and that idea definitely intrigues me. Thanks for your advice, I am trying to be patient looking at the CT market I am in no rush to investing my money right way. I appreciate your feedback and if I have any more questions ill be sure to contact you!

Have a good one!