Looking to Invest in CT market
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!
Most Popular Reply
@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.