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Updated about 7 years ago,

User Stats

166
Posts
161
Votes
Heidi Kenefick
  • Rental Property Investor
  • Hartford, CT
161
Votes |
166
Posts

Ready to start...Help!

Heidi Kenefick
  • Rental Property Investor
  • Hartford, CT
Posted

Hi All! I'm new to this community and very excited to learn from all of you.

I am moving to Connecticut in a few months to start my first job as a pediatrician, and would like to buy an apartment building in the Hartford area using the money I will get from selling my house in North Carolina as a down payment. Then live in one of the units while renting out the others, until I save enough to buy a property just for me. 

My only experience as a landlord is renting out my spare bedrooms in my house to travel nurses via AirBnB. It has been really lucrative for the past 2.5 years, but I am ready to jump into the "big leagues" once I move up to Connecticut. I realize that AirBnB and a 4-6 unit building are very different, and would like to learn as much in advance to avoid making a huge financial mistake. 

Any advice on how to use a realtor to buy an apartment building (or names of good ones)? Anyone in that area know areas to avoid purchasing vs good areas to buy? Any recommendations on buying a brick 6 unit building vs a house style 3 or 4 pled? 

I've found some on Zillow that seem like good deals, but sometimes I wonder if things are just too good to be true (i.e. sellers stating cash flow in the ranges of 30-60K/year)

Thanks guys! -Heidi

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