:shocked
A straight shooter realtor that actually knows what’s up and tells it like it is (below is directly from his investors page):
Real Estate Investment in New HavenBecause I’m a residential (rather than commercial) agent, the investment properties I deal with are primarily two and three family homes. New Haven has an abundant supply of such properties, many of them built between 1880 and 1920. With its large student population New Haven has traditionally had a robust rental market.
Prices of these properties buildings have soared in recent years. Three-family homes, with their greater income potential, have been particularly affected by this trend, and tend to be seriously overvalued by their owners. Asking prices for many currently listed three-family properties are simply not supported by the income they generate.
Closing prices for two-familys have risen as well.
Overall, multi-family properties in New Haven are holding their value better than single family homes or condominiums.
http://www.bixbyproperties.com/html/investors.html
When I look in that area for properties I will certainly be calling him, he definitely earned some points with me. I’m sick of seeing realtors calling properties great investments that definitely would be way into the negative cashflow range.