Upstate NY or Connecticut.

[Shawn Legree]

Hello Guys,

I finally put some Cash together to buy a two family fixer up... I live in brooklyn NY, so I’m trying to stay pretty local with my investment. From anyone’s experience what would be the better market to buy in for a beginner. Connecticut or Upstate NY?

Thanks guys.

[Cameron Norfleet]

@Shawn Legree

Waterbury, Hartford & Stamford are 3 totally different markets. You can pick up properties at very low prices in Waterbury. But the rental income is pretty low as well. Hartford & Stamford have a much higher median household income than Waterbury as there are much more high-paying jobs in those areas. 

The Stamford market has been exploding over the past several years as new developments have picked up and high paying jobs moved into the area. So the barrier for entry is much higher. Hartford is a great city with a good job base and many amenities appealing to professionals. But there are certain parts of the city that are much less desirable than others.

I do a good amount of business in the Waterbury, Meriden & New Haven areas, so if you want to know more about those areas, just send me a PM. 

All areas have their pros & cons. So in my opinion, I think you should simply pick one and study it. Learn the idiosyncrasies of the neighborhoods and decide which ones you're ok with investing in, and which ones you'll want to stay away from. Then, pull the trigger!