Hartford Multi-Family, First Time buyer. Advice? Horror Stories?

[Christian S.]

Hi everyone, 

I'm new to biggerpockets. I'd say i'm the typical first time buyer. Currently living in Hartford for work and became interested in multi family homes. They're pretty unique as far as ease of house hacking is concerned. For anyone in the hartford area that has done this what are your thoughts? Any advice before I take the plunge?

My goal is a price point where the rent from one apartment covers the mortgage, interest and taxes. That pretty much rules out West Hartford. Right now I'm looking in Hartford as the prices are more reasonable. 

Any agents you would recommend?

Neighborhoods to steer clear of?

For the Real estate investors in the area, what advice would you give to someone starting out? I can be free to grab a drink and chat any day and I'd love to hear from you?

[Rick Santasiere]

Motivated seller in Hartford at $265k near Trinity. The highest priced 3 family sold over the past year in the vicinity of this home sold for $202k. Mr. Gamble had this listed with a licensed professional at $265k for quite some time (see MLS history). Here are the rents disclosed:

1 2 Bedrooms 1,260 5 1 $950 Month to Month Dishwasher, Disposal, Oven/Range, Refrigerator

2 2 Bedrooms 1,260 5 1 $975 Month to Month Dishwasher, Disposal, Oven/Range, Refrigerator

3 2 Bedrooms 1,260 5 1 $980 Month to Month Dishwasher, Disposal, Oven/Range, Refrigerator

Just be careful how you handle "motivated sellers." The only way this guy could be considered motivated, is if he were int he $150-$170k range.  I would say the value is between $190k-$205k tops. I won't ever get those last 15 minutes back, but I wanted to share the insight with you so that you are careful not to market houses as motivated sellers, when they are really "unrealistic sellers"