Purchasing & Managing Difficult B/C Rentals in Connecticut

[Joseph Salzillo]

Connecticut has been known to be a difficult state to invest in due to high taxes, favorable tenant laws, and overall decline in population.

However, I've decided to invest into this state anyway. There are a lot of pockets in Connecticut in where small multifamily properties hit the 1% rule and purchase prices can range from $150k-$300k in these towns (Bristol, New Britain, Meriden, Wolcott, Hartford, Plainville, Southington, Middletown, Cromwell, Berlin, etc.). Additionally, a majority of these towns have experienced 7-10% growth in appreciation on average between 2020 and 2021 while still having strong rents.

The key to acquiring and operating successful rental properties ANYWHERE is to have an excellent team with you. I work with out of state investors looking to get into small-multifamily deals and help build their systems and teams here. The property management team we work with has paid out over $250,000 in UniteCT funds to their owners for tenants that need rental assistance from the state. The contractors we have are reliable from general handymen to fully-licensed GCs.

Shoot me a message if you'd like to chat, I'm always happy to help other investors as well!