All Forum Posts by: Jared Robbins

My wife and I currently live and rent in NYC but anticipate moving to western Connecticut on a 5-year time horizon. We're wondering if there is any sense in purchasing a property now and renting it out (likely short- or mid-term rentals) for the next few years prior to moving into it. We don't know much about the AirBnB or mid-term rental market in Fairfield County--just know it's a likely home contender in the next few years. 

Any advice would be greatly appreciated as we'd be new to REI and to the Fairfield market!

Thank you, everyone, for the feedback. The new construction development seemed too-good-to-be-true, so the majority of the feedback aligns with my hunches.

I've longed dreamed of getting into real estate but have been focusing on my W2 career until now. While I currently live out-of-state, I grew up in Cleveland and got my Masters from CSU's Levin College. As I look to real estate investing, I believe my best options are to a) find a house hacking opportunity in NYC (where I live); or b) find an investment opportunity in Cleveland. When comparing these two options, I think investing in Cleveland aligns better with my "real estate why" and longer-term goals.

With that as context, I have been looking at a potential high-risk, high-reward multi-family housing development opportunity on land bank properties. I have friends in architecture and home building who would design and construct the property at cost. I also have friends at the City and local CDCs to turn to if/when needed. And I have a few potential equity investors lined up. Finally, I have done some (very) high-level math on the project and believe it inks out.

All that said, I know I need to get better data to inform a the financing and see if this really makes sense before I go any further. But I'm not where where to turn to next! Any advice is welcome--even if it's "you're in over your head; get out now." :)