Torrington, CT Market

[Dilman R.]

Drove up to Torrington over the weekend and noticed a lot of brick commercial buildings with boarded windows. A lot of vacancies? What are the big employers around there?

Also, which are the best neighborhoods for multi families? Saw single families had some of the best areas but would like to get a better insight. How's the market? Any info would help.
Thanks,

[James McCard]

Hey there guys! 

@Jared Maches and @Filipe Pereira I appreciate the tags guys. Torrington is my market. I am perhaps a bit conservative on outlook. In my opinion I think that even in Torrington we are seeing things at close to the top of the market.  It is up to you if you think now is the right time to buy. Personally I have toyed around with selling my primary residence and moving to one of my rentals that I already own and I am working on rehabbing. 

Torrington is a good market, there are not a ton of huge employers beyond what some of the other guys mentioned. I would call it a working class town. The tenant you'll get will likely be a little rougher than an area of the Farmington Valley. If you are okay with that buy away. I will caution you that the taxes are high in town. Also I will mention that I own 3 SFR and I have never paid more than 24k a unit (that unit was basically move in ready). So I am for sure a bottom feeder and negotiator at heart. Maybe from the market you are coming from the area seems cheap. Just do you research and be careful. If you would like feel free to reach out to discuss more things.

I would also echo to stay out of the south end. I have one unit that borders that area and if I was to sell one it would be that one. That being said I wouldn't be able to replace it for the same money. So I won't sell it likely.