Starting out

[Mercedes Ridenhour]

hello I'm Mercedes I'm 25 I've been interested in real estate I would like to start off In Connecticut new haven/ Hamden and purchase a home to rent out to college kids I see a lot of potential in the field for me I'd like to get things up in running in a year any advice? Especially in acquiring a loan for the house and overall business of it

[Jonathan Makovsky]

@Mercedes Ridenhour @Eric Lindquist @Melissa Gittens

Be careful and do your full due diligence before investing in Hamden for college rentals (and you can possibly say the same about New Britain). 

Hamden has been putting - what some have called discriminatory restrictions - on renting to college students and the legislation continues to be more restrictive. Below is a quote from an NBC Connecticut article within the past two weeks further restricting to college students:

Full article here: http://www.nbcconnecticut.com/news/local/Hamden-La...

The town of New Britain is also trying to crack down on off-campus student rentals by limiting the number of students and also paying a permit fee. Here is the article from the New Britain Herald in the summer, and it appears to be a constant battle with the local residents: http://www.centralctcommunications.com/newbritainh...