W Hartford, CT · Member since 2016 · 3 posts · 2 votes
Hi everyone,
I'm new to biggerpockets. I'd say i'm the typical first time buyer. Currently living in Hartford for work and became interested in multi family homes. They're pretty unique as far as ease of house hacking is concerned. For anyone in the hartford area that has done this what are your thoughts? Any advice before I take the plunge?
My goal is a price point where the rent from one apartment covers the mortgage, interest and taxes. That pretty much rules out West Hartford. Right now I'm looking in Hartford as the prices are more reasonable.
Any agents you would recommend?
Neighborhoods to steer clear of?
For the Real estate investors in the area, what advice would you give to someone starting out? I can be free to grab a drink and chat any day and I'd love to hear from you?
Motivated seller in Hartford at $265k near Trinity. The highest priced 3 family sold over the past year in the vicinity of this home sold for $202k. Mr. Gamble had this listed with a licensed professional at $265k for quite some time (see MLS history). Here are the rents disclosed:
1
2 Bedrooms
1,260
5
1
$950
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
2
2 Bedrooms
1,260
5
1
$975
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
3
2 Bedrooms
1,260
5
1
$980
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
Just be careful how you handle "motivated sellers." The only way this guy could be considered motivated, is if he were int he $150-$170k range. I would say the value is between $190k-$205k tops. I won't ever get those last 15 minutes back, but I wanted to share the insight with you so that you are careful not to market houses as motivated sellers, when they are really "unrealistic sellers"
Hello Christian Sulton I am a real estate broker (realtor with my own company) as well as a real estate investor in Hartford County. I have helped several other investors this year here as well, and they are on here. Filipe Pereira Login George . Feel free to reach out to them to see if you feel you would like to work with me. If you would like to meet for coffee, I am willing to meet you first before we decide to work together. PM me if you would like to do so! Good luck !
hi @Christian S.. I was a first time buyer just two months ago and now am a first time owner of a multi in Windsor. I live in one of the units and the other two are being rented. So far it has been a good experience and I am very happy that I have taken the plunge. I think the biggest challenge when starting was developing realistic expectations of what is possible (e.g., rental income to price ratio for a neighborhood you would want to live in). It takes a little time of looking at numerous places, crunching the numbers, and getting feedback from smart and experienced people like @Rick Santasiere for the realistic expectations to develop. Once that happens, its just a matter of persistence.
Feel free to message me with questions or thoughts and I hope to run into you at one of the local REI meet ups. Good luck and keep us posted!
hi rick, private owner, 63 arnold st 3 fam. rented with tenants, wl. not list with agents house rehab. close to $300k, new upgrades owner has no p&l he resided there, units pay $1000 mo. rent hasnt raised in over year tenants do repairs. immac. cond. 3 car gar, energy eff. best home on street. appt. must be made in advance. call if u need to 9197958088 price $265k. recessed and chandeliers lights intercom flrs 1 and 2 with steel doors. im a ct. snow bird here in nc.
Motivated seller in Hartford at $265k near Trinity. The highest priced 3 family sold over the past year in the vicinity of this home sold for $202k. Mr. Gamble had this listed with a licensed professional at $265k for quite some time (see MLS history). Here are the rents disclosed:
1
2 Bedrooms
1,260
5
1
$950
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
2
2 Bedrooms
1,260
5
1
$975
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
3
2 Bedrooms
1,260
5
1
$980
Month to Month
Dishwasher, Disposal, Oven/Range, Refrigerator
Just be careful how you handle "motivated sellers." The only way this guy could be considered motivated, is if he were int he $150-$170k range. I would say the value is between $190k-$205k tops. I won't ever get those last 15 minutes back, but I wanted to share the insight with you so that you are careful not to market houses as motivated sellers, when they are really "unrealistic sellers"