Investing in waterbury ct

[Ryan Keenan]

Hello BP, was curious to see if anyone is actively investing in waterbury. I've been looking for a sfr under a 100k and seems like waterbury has tons. Is it worth it or am I asking for problems?

Thanks!

[James Nazario]

@Ryan Keenan,

I purchased a duplex in Waterbury about 4 years ago and what @Nelson Del Castillosaid is spot on. Waterbury, CT catches a bad rap and I can't speak to it's future trends, but there are some decent areas to invest in and since homes are so inexpensive it's an easy entrance into the REI game. But you really need to be laser focused on those certain areas and not stray outside of them unless you are a very experienced landlord.

I invested on the East end near the Cheshire/Wolcott line and it seems to be a nice area with a bunch of SF homes. I know people also find the Town Plot area on the West side a desirable place as well. I'm sure there are other areas people can comfortably invest in, but I have not decided to look outside of the ones I've mentioned

When it comes to cash flow, one of the big things you really need to pay attention to are the taxes, which are fairly high. Yes, there are homes that can be had for <100k, but if not figured into the analysis the taxes can ruin your cashflow. Also I wouldn't bank on much appreciation unless it's forced and you are buying at a significant discount.

Basically, what I would do is start researching and getting to know some of the different areas, create a strategy, run your numbers, and if you decide to pull the trigger, be VERY tight on tenant screening and managing, and it could be a great place to invest.

Let me know if you have any particular questions and I will do my best to help out. 

Good Luck!