Investing in New Britain, CT

20 Replies

Welcome to NB @Thomas Kareeparampil

New Britain is like every other small city. You need to know the good parts are and where the bad parts are. If you are in average to really good parts of the city you can do real well in NB. 

If you choose to buy in one of the bad areas you will deal with issues that come with buying in bad areas. Just like anywhere. Pretty simple. There is basically 1 area in NB I would recommend not buying in. 

One thing that is great about NB is that if you are in good areas you will have a qualified tenant pool to pick from because the surrounding towns are very expensive to rent in. There are also investors who look to buy in this area for the same reasons. 

I agree with @Michael Noto . New Britain is  very street by street. I closed on a multi-family home in New Britain just before the new year and the location is not on a busy road or a through street so its pretty quiet. Also there is a elementary school nearby so the surrounding streets are pretty well "guarded".

It just so happened that all the prospective properties I was interested in while searching all happened to be in New Britain so I asked a co-worker who currently lives in the area about each property before we went to look at them.

Best of luck to you on your search.

I live in New Britain, and I would love to hook up with one of the investors in the area. I just want to learn. I'm pretty sure that would be impossible, but worth a try. To be honest I have no experience, but I have read a lot of the real estate investing books. So I know a little about creative investing. Just would like to see all the things I would potentially doing myself once I get my bearings.

We own about ten multis in New Britain, looking to sell our two families and buy a few three families, even a six-plex, even an apt complex.  If anyone has anything, or is interested, please contact me.

@Karen F. I am interested in learning about what you have available in New Britain. Could you please send me a message and let me know? Thank you!!!

Originally posted by @Michael Noto :

@Carmine Pascarella What kind of investing are you looking to get into up here? 

Flips, rentals, keeping my options open just looking for good opportunities at the moment. Looking all over (Boston area too) but the low prices in New Britain and the jobs coming to the city soon make it look good pretty right now...

Like any other city each street may be different so I would scout the area during the day, at night and see what your gut tells you 

Hello everyone. I would like to invest in New Britain (single family). I'm trying to find good deals through the mls. I'm also trying to find a good property management company. What property management company are you working with??

@Bartosz Ptak Little Poland for the most part is a solid rental market and that is the section of the city where there are the most 6-family properties. Definitely area dependent though. Some areas of that section are better than others. The prices usually reflect that. 

 It’s a C/C+ area with some B properties mixed in that have been well cared for over the years. 

Make sure the building you buy has sufficient parking for 6 units. Your tenant class will suffer for sure if there is a lack of parking. 

@Michael Noto thanks for your input. How are landlord/tenant laws in NB & CT as a whole? I’m in Northern NJ, own 12 doors, looking to expand for more cash flow. NNJ we can evict in about 30-45 days for non-payment of rent. How does it compare to NB?