All Forum Posts by: Rick Santasiere

There it is Andrew!! ^^ Trust is it. Best comment on this thread.

@Account Closed, good luck with your quest! I can't share too much on out of state investing, as this is one thing I have no experience on (yet...) I hope to gain some more of this experience in the few years. If you ever find yourself thinking about CT or MA, reach out.

@Account Closed I can respect your research and your opinion, and by no means was I stating that Hartford is the poster child for where everyone and their dog should invest. I was simply stating that there is still opportunity, regardless of conditions. News stories written will always have a spin on them. I bet if you dig hard enough, you will find some stories saying that Hartford is "up and coming or a soon to be hot spot" 

Not that I agree with either, I just believe that being too rigid in your thinking, and believing everything you read, will cost you (or lose you) money. Do I think Hartford will fail and go bankrupt? Honestly, I have no clue, I am not a politician. I do know that CT continues to have attributes that are sought after. Look at incomes here for instance. Look at the education system. Insurance? If I were a gambling man Mike, and I were looking at CT, not just Hartford, from 3,000 miles away (with limited direct knowledge and experience), I would bet that when CT finally turns over to a more business friendly climate (ie, oust the liberal - long held democratic views), we could be just like you in CA :-) In fact, if I recall CA was in some major trouble 10-15 years ago too, and now look: 2016 San Fran became the very first area to have average home prices over $1 mil. 

So, you are correct, not a "ringing endorsement," but I wouldn't be short-sighted in the REI world. There is a place to invest for everyone.

@Heidi Kenefick welcome! As @Brian Pulaski stated, replacing windows in the north end of Hartford, may be a little dicey :-) Brian is spot on with taxes. Hartford commercial properties are taxed at a much higher rate, and most of the time the #'s just don't work for the risk/reward. However, there are exceptions.  You CAN find something in some sections of Hartford (Southern, West end for example), that are excellent areas to own in. 

Find a good agent for sure. Find someone who has not only local real estate experience, but also an investor themselves. Agents are everywhere, but finding one that has a similar mindset to you (in terms of investing), is what you need.  I know the area well, you can reach out to me directly any time to chat.

Welcome @Cameron Snyder.  We have an office in Clinton that is head up by an excellent agent @Brendan Griffin. We are located right on Commerce Street in the center. Brendan has extensive flip experience, has owned and sold a few companies, and is also investing in B&H.  Needless to say, he is a great person to connect with. Look him up! I am much more familiar with the central and northern portions of the state if you have any questions or thoughts, please don't hesitate to reach out.

@Axel Meierhoefer I reside in CT, invest here. I can't speak for any of the states @Account Closed mentioned except for MA and CT. I would like to respectfully disagree with Mike S on avoiding the "obvious." You can find opportunity in ANY market, depending on what your short and long term goals are.  Some might say that "cash flow" trumps "appreciation," and some might prefer the opposite. 

CT is a market that didn't get hit nearly as hard as the rest of the US in the 2008 RE correction, and it also has taken a much slower rise back to it's top. There are areas in CT that fetch 8-10 Cap for investors, which is astounding to most out of state investors (for example some NY areas are yielding next to 0).  Granted, they are getting harder to locate due to the supply of quality properties, but there are deals to be had. CT and MA are terrible for taxes (but rents should make up for that), and MA can be known for being very "tenant friendly." 

@Ryan Plesz, I sent you the link to get on the page. Please let me know if you need anything else.