All Forum Posts by: Rachael Agruso

West Hartford, Farmington, Windsor, Glastonbury, Avon, Newington, and Wethersfield are all great towns in the area. However inventory is going to be low for multi-families in some of these towns. As others have said, you need to move quick if something comes up especially in the market we are in. Other towns to consider and do research on are, Manchester, Southington, Middletown. I will message you an investor friendly realtor that is local to the Hartford County market!

Congrats to you and Ryan!  The 1031 exchange is such a great tool!

If you are on Facebook, join local real estate groups. This is where I've found contractors, lenders, etc.  Or, I've always heard going to HD/Lowes in the early AM is where you can find good contractors! 

Feel the downstairs tenant out before putting them on a lease or offering them the fixed up unit. If you like them and want to keep them, as mentioned above check to see if there's any laws on rent increases.  Also, it's best not to rock the boat too much if you are in a state that has taken away evictions. 

If you used a lender/agent/lawyer, they should have helped you out with some of these questions! Nonetheless, check out your local town website. This should explain the trash questions. Some towns have trash included in the taxes you pay, while others its a separate expense paid by the owner.

For utilities, you need to call the companies that service your town. Electricity/natural gas/wifi cable etc.

Make sure you know who the first mortgage payment is being sent to. Sometimes your first payment is different then the rest, as the lender will sell the mortgage off to a servicing company.

@Simon Obas I listed on Facebook marketplace and apartments.com. I used to use Zillow but they started charging 

@Simon Obas It depends on the neighborhood, condition, what's included with rent. I rented my recent 2 bed for $1,100. However, it was just renovated last year, in a good area, on a dead end street. I’d say the range for 2 beds is $925 on the low end to $1,100 on the higher end.

For 1 beds, same applies for condition and neighborhood, but you're looking at $750 low end to $1,000 high end. I rented a 1 bedroom that was in a great neighborhood in NB, for $950 back in February with no utilities included.

I just had a unit up for rent in New Britain CT and had no issues finding renters. I had a ton of hits on the unit and found a qualified renter in less then a week. I would not worry about finding renters or let that stop you from buying a multi family. 

I would talk to a lawyer to see best options here. Document everything they are doing wrong because if they’re paying their rent, getting them out will be harder.

Sounds like they just started their lease so holding out a year isn’t really an option. 

I also just refinanced my owner occupied 3 family at 3.25%. I didn’t want to wait due to the uncertainties.