All Forum Posts by: Eli Miles

Eli, before we get to 'how', let's focus on 'why'. If what you are doing is working, why the switch to a more active investment style? I am not saying you should avoid being an active investor. I am just trying to get to the root of why you want to change.

If we break this down into smaller steps, getting started is well within your skills set. How can I say that? Lots of others have started from zero and learned the ropes. This is not a complex business. It is a business that rewards attention to detail. While you do not know completely what to do, you have a sense of how money is made from your syndication deals.

A little knowledge can be dangerous. Figuring out the unknown unknowns and all the dumb stuff you could never predict is an issue. Start small. Start slow. Run the numbers. Partner on a hands-on project if you like. There are so many ways.

The reason for asking about the why is it will shape where you need to focus. Some started with a 'plex or small apartment building while many others will start with a house. A few people start with small commercial. How you are wired, what motivates you and why you want to switch will provide a lot of clues. 

Good luck. Remember to breath. Enjoy the journey. Read a lot on here and other places or books. Get out there and mix it up with local investors (in the target market). 

And keep posting questions.

Hey @Eli Miles the first steps I would recommend as a new investor is to get a handle on analyzing the income, expenses and ROI of these properties in Bridgeport CT.  Connecticut in general is in a sellers market.  You will need to be creative in negotiating to get the price / terms you need.

You can use the Bigger Pockets calculators to start. Right now rents are strong, you can get $800 for a 1 bed, $1100 for 2 bed, and up to $1300 for a 3 bedroom.  Use Zillow and rentometer.com to get data and analyze a few from your home to see what type if returns there are.

If these meet your investment criteria then start looking in person by contacting the listing agent.

Let me know if you have any questions.

Hi Michael,

If you are commuting to Stamford, Bridgeport is a good option. I lived there for over 10 years. Yes there are some rough areas but there are also very decent areas. If you are looking for a decent MFH in Bridgeport I suggest you look in two areas Black Rock and North End. In my opinion these are the two better areas to live in Bridgeport. Also, don't rule out Fairfield, which is the town right next door and where I currently live. There are far less MFH in Fairfield but they are there, you just have to find the right realtor.  I'd be happy to discuss and give you my input on specific streets or locations. Good Luck!