Looking to invest in CT, but where ?

[Max Skoryk]

Hello, my name is Max, I am a contractor in the NYC Metropolitan Area, looking to invest in CT, done a lot of research, but can’t seem to find a city that is worthwhile, been looking into deals in Waterbury, New Britain, New Haven, and Hartford. What are your location recommendations? 

[Ryan Newport]

Hey @Matthew Evora.

I love the Meriden investment market. In fact I live in Meriden right now house hacking in a triplex. There are definitely a couple areas that I would steer clear of, but lots of areas I'm more than happy to invest in. I think the numbers work very well and I appreciate the tenant quality and overall comfortability for myself living here. 

When it comes to house hacking, I think the real bang for your buck comes with a triplex or a quad, 3 or 4 doors. I think the duplex is a bit too limiting on how much it'll help reduce your expenses and how much cash flow you can obtain. I often see lots of duplexes selling for only 20-30k less than a similar quality triplex, so to me I'd rather pick up the 3rd unit for pennies on the dollar, ESPECIALLY if you're utilizing a low down loan product. 

Of course, it all comes down to personal preference as well. What is Matthew looking for out of a house hack. Reduced expenses? Future cash flow? Where is your personal comfort level? When you can dial in on those targets, you'll be able to filter your criteria and hone in on a target property. It's easier said than done of course, especially in a hot market, but you'll make it happen. 

Please feel free to message me to talk more. Happy to hop on a call and tell you about my experience and perspectives.