Does my Location Suck?

[Dj Pride]

Hi, 

I am currently working for my girlfriend's father, he owns an insurance agency that does pretty well, especially considering the area his agency is based in. What are your thoughts on investing in this area? I want to house hack and buy a triplex or duplex. The problem is that the higher income areas within 30 minutes of here are all single-family homes. What do you think of the demographic info here? I want to get into real estate but the only thing holding my back right now is how to quantify the risk of the area I live in currently. I live in Torrington CT 06790. Specifically what bothers me is the 10% vacancy rate and 32% renter occupied rating. Are these numbers something I should be concerned with? Any help with analyzing the area or advice on if it will be an okay investment here would be great.

[Ryan Deasy]

your location does not suck. i grew up colebrook and lived in torrington for a while before college. i then lived in new britain 10 years, west hartford for a few and then moved to houston. i know CT extremely well and still invest in new britain. all of my family is still in CT. i actually looked for property in Torrington. when i come back to visit CT i stay in torrington and always check out a few houses. i think its a great market to be honest. its not as good as a place like new britain, but its along the same idea. 

i would say forget about the metrics you posted. torrington is generally lower income, blue collar and has a ton of duplexes and some triplexes scattered about and for pretty cheap too. those are the kind of areas that i really like.

i house hacked for a few years and it was an incredible way to accumulate cash for your next deal. i would say go for it. buy a property there and make it work. @Ryan Rea may be able to shed some light too. he is an investor and agent there and is extremely knowledgeable. 

i have a number of properties now and am happy to help in any way that i can. i have pretty much seen it all at this point! feel free to send me a message if you like.