New construction rental opportunities with strong cash flow

[Kevin Keating]

I have been investing in real estate in my local market for 10+ years (flips, private lending, rentals). I am currently in the process of selling my portfolio of 13 rental units spread across four properties. In CT, nearly all multifamily properties are old (late 1800s to early 1900s). Insurers have become extremely conservative over the last year. I'm down to one company willing to insure my properties at reasonable rates. Additionally, maintenance/cap ex expenses are high due to age. The CT market has been great from a wealth building standpoint, but poor for generating predictable cash flow. Due to planned changes in my families income situation, I need to shift my strategy. Currently I am exploring investing in new construction rentals with the goal being to better calculate cash flow at the front end with maintenance/cap ex expenses being low for a prolonged period of time and predictable. If anyone in the BP community is aware of any current opportunities or has advice they are willing to share, it would be greatly appreciated. Being out of state, I will also be seeking an investor friendly agent and also a great property manager.