NY investor looking for advise on investing in the Hartford CT market

[Ravi R.]

I am living in NY and I would like to invest in multifamily properties in the Hartford, CT market.

I would appreciate feedback from any investors about the Hartford market, operational and other logistical challenges etc., given that I'm living in NY.  

Thanks!

[Stephanie Cabral]

Hi Ravi - while it'd be helpful to know more, like the others have said, I can tell you a bit about the downtown housing market and if you're looking for something in the greater Hartford, you'll have to give us more detail :) The downtown residential market is at 98% occupied and there's a lot of activity which suggests positive growth and more bodies on the street between the new public transportation system, two university moves into the central business district, the development of Downtown North with the new baseball team...the Yard Goats...please don't hold that against us, and a lot more residential units coming online in the next year - which is actually a positive for those people considering investing in residential because in urban environments like Hartford, residential markets follow an odd trend where the greater the supply of housing, the more greater the demand. So, the downtown Hartford is a desirable investment opportunity however the inventory is limited and taxes are quite high. 

I'll have to look at this meetup group - I was hoping there'd be something like that.

Stephanie