Connecticut House hacking

[Franklyn Gutierrez]

Hey everyone,

Will be looking to move to Connecticut in the up coming months. Looking into Fairfield County. Wanted to know if anyone can recommend some towns where I can focus on looking for a house hack. Looking for 5+ bedrooms 2 + bathrooms ( duplex,triplex or quadplex) in a decent school district.

At around 300-400k

Also will be investing in single family homes in connecticut. Any tips would really help.

[Rich Tirado]

Hello Franklyn,

Fairfield County is considered "New York's suburbs" because of its proximity to NY. This is the most expensive county in CT. Multifamilies are more common in Bridgeport, Norwalk and Stamford. Those are all cities with their good and bad areas. If you find a multifamily in another town in Fairfield County, then I would seriously consider it given that they are not that common. If you want I can send you multifamilies via the MLS for Fairfield County only.

Thanks

[Kerry Mertz]

Fairfield, Norwalk, Shelton, Milford and Stratford would work, among others. Call me anytime and I’d be happy to help.

[Louis I.]

I like Bethel CT since it has a nice downtown area and there are plenty of properties within walking distance to all the shops and restaurants. Plus the school district is pretty good. 

Full disclosure, I have a duplex near downtown Bethel and have no complaints about the town or location. I'm looking to trade up soon and would like to stick to Bethel on the next property

[Rich Tirado]

@Louis I. - I always like Bethel and was always surprised about how night and day it is from Danbury. I used to take Black Rock Turnpike from Fairfield.

[Franklyn Gutierrez]

@Louis I.

Thanks for replying.

I looked into bethel, CT and they have great school district and just finished saving a search on realtor for it. Thanks for the info!

Are you looking to sell?. Who knows I might be interested:)

[Franklyn Gutierrez]

@Rich Tirado

Thanks for the reply

Yea I've heard that about Fairfield County. It's good for me to house hack in because I do have a lot of family in new York so the commute will be fairly easy.

But my investments will most likely be in bridgeport, blackrock ( as long as I feel safe in the neighborhoods I would invest)

[Rich Tirado]

@Franklyn Gutierrez - If your thinking of Bridgeport the following neighborhoods are the best in my opinion - Black Rock, North End, Brooklawn and Forest Lake

[Louis I.]

Originally posted by @Franklyn Gutierrez:

@Louis I.

Thanks for replying.

I looked into bethel, CT and they have great school district and just finished saving a search on realtor for it. Thanks for the info!

Are you looking to sell?. Who knows I might be interested:)

 Good luck with your search. There are a lot more listings in Danbury given the size of the city, but it's probably worth waiting for something to pop up in Bethel.

I am looking to sell so feel free to private message me what you are looking for and we'll go from there 

[Jaysen Medhurst]

@Franklyn Gutierrez, the trick is going to be finding a property at that price in a town with a good schools. The only towns at that price point (e.g. Bridgeport, Norwalk) have terrible schools. Milford might be an option. A good friend of mine lives there and he has two kids in the school system there.

The towns with the best schools (Darien, New Canaan, Wilton, Greenwich) will be 2-3X that price. Don't let that scare you away. A multi-family in those towns will command much higher rent. So $1MM+ might sound like a lot for a 4-plex, but if you're getting $6-8k/month from the other units, the numbers can start to make sense.

[Franklyn Gutierrez]

@Jaysen Medhurst

Thanks Jaysen.

Unfortunately you are right when u talk about what my price range can get me.

But im hopeful that if I wait long enough something will pop up that I can jump on. I've been on realtor.com for the past 4 months just looking to see if there is anything that fits my criteria and very seldom ly do i find something.. but they are there :)

[Rich Tirado]

@Louis I. -  Sounds like you know what your doing.  However if you are interested in selling I have seller packages that range from 4.5% to 0% . Message me if your interested.

[Alpha Journal]

looks like I'm a little late to this party. Like Franklyn, I'm looking for something similar (5bd, 3bath) in the bethel and danbury area to house hack sometimes next year (2020). If anyone knows anything, let me know. 

[Sin Hang Lai]

@Franklyn Gutierrez where did you end up? 

In general, I grew up in Greenwich and now live in Norwalk. I would recommend you look at a town like Trumbull.