Questions from a new Connecticut Investor

[James Whitten]

Hi All,

Looking for some insight into REI in Connecticut! My wife and I will be moving to Connecticut from Boston in the next year and are starting to look at REI opportunities. We currently own 3 units (2 family and a SFH) in Greater Boston and will be looking to grow our portfolio when we move. Our goal is to BRRRR, but would also consider an owner-occupied multi-family for our first year as we get settled.

So, I'm curious which cities/towns produce the best cash flow and appreciation? I know West Hartford and Stamford are safe bets, but I cringe when I see the property taxes. Would y'all recommend investing in multi-families or single families? Any guidance is greatly appreciated!!
 

[Joseph Salzillo]

Hi James,

I second with Brandon's answer above - I invest primarily in Bristol, Meriden, New Britain, Middletown and avoid Hartford, Waterbury, Bridgeport. The cashflow is relatively nonexistent in West Hartford and Stamford due to purchase price and taxes. I also own a 3-fam in Marlborough, MA: the markets are totally different up there compared to CT!

Feel free to reach out if you have any specific questions as I took the same move from Boston area to CT.

Joe