All Forum Posts by: Kavya Veerapaneni

@Kavya Veerapaneni

There is a market for short term rentals in Danbury. My client has a property near the hospital where he runs his dental practice and has 6 hospitality units connected on the other end. Mix of both share and entire units. Their units have exceeded expectations over the past two years.

Danbury should be fine for house hacking with having a larger number of mulitfamily properties within the city.

Great that your starting out on biggerpockets. I started my jouney here in 2011 and I am still learning everyday - especially from others on this forum.

My personal portfolio is located within Stamford and Bridgeport. I have a mix of student rentals, multifamily, short-term and SFRs. I mostly buy and hold. Currently selling two SFRs to 1031 into a seller financed 9 unit mixed use property - I am still excited to learn new strategies 13 years later.

I have some of my investments on my profile and some info regarding each. Feel free to reach out with any questions, more than happy to help with any questions you may have. Good luck!

I have a rental in Danbury and short term rentals out of state.  The pricing for Real Estate is way out of whack due to no supply so everything is over priced right now and not sure if worth the house hack.  Feel free to DM me and I can review the micro market with you and wish you luck.  House hacking could possibly at least cut that painful expense so not saying you shouldn't do but really watch your numbers.

 Hey Kavya!

Your local Investor a Realtor here! 
I'm currently house hacking my multifamily in Danbury and have another duplex in Brookfield CT that could’ve been a house hack deal as well.

My 2 cents are: 

Stay prepared (preapproved) and on top of the market because when the good opportunities come, you have to jump on it. Especially since most multi's are slightly overpriced. Try to buy something with detached garages. I have a 4 car detached garage at my property and I rent out all the bays for storage use. I want to look into the possibility of a future ADU there as well. Lake side homes are more desirable for short term rentals in this area but not impossible to accomplish. I'd recommend getting a roommate instead. You'd get a consistent income which might bring you more income on a year to year basis than renting a room on Airbnb here and there. I'd also recommend looking into New Milford, CT if Danbury seems too pricey. Feel free to DM me to schedule a call, I'd love to help you out with this purchase!

I don't think Danbury is a big house hack market, but I could be wrong. Yes, long-term rental clients sometimes don't want short-term rental next door to them, but you are the owner and landlord and set those expectations up front so it's on the table before they lease. Are you saying you want to STR rooms in the unit you are living in? That's not a great strategy for Danbury. If someone is coming to Danbury for STR, I don't think they are going to want to share bathrooms and kitchen. You have to know the market before you build a plan and I don't think this market supports your intended plan.