Aussie in need of guidence

[Rob Wilson]

G'day Guys,
I'm looking to invest in positive cash flow multi family housing,with a small budget (under 50k) so I've been looking in the Rochester,Syracuse,Buffalo areas in NY ,Pittsburgh,Greensburgh,New Castle areas in PA and to be honest the more reasearch I do the more confused I get,NY seems to have really high taxes,alot of the places I mentioned seem to have a high crime and unemployment rates,
But really high rents that spin off some good cash flow !

So if anyone is investing or living in the areas than can shed some light this for me it would be much appricated.

As I'm in Australia it's a little harder to join a physical investment club to find alot of this stuff out,But I am planning on coming over to check out some deals in 5-6 weeks.

P.s I've been getting my info of best places .net which seems all of the content hasn't been updated in a while is there a better source of info out there ?

Thankyou :wink:

[Tony D'Anzica.]

Hello Rob,

I can only tell you about Syracuse. I work closely with investors from all over the country that are trying to work within the same budget that you have. Let me know when you plan to be in Syracuse. I would be very happy to assist you. I am a real estate attorney and a licensed real estate broker, but I now run my own property management firm in Syracuse.

Syracuse has some great investment opportunities. Most brokers have very little understanding of what investors really need (e.g., return on investment, maximizing cashflow), nor do they they thoroughly understand the rental market, which is one of the most important things every investor must understand before investing in any real estate. Consequently, many investors end up with properties with amazing cap rates (they just have a very hard time collecting any rent whatsoever).

By the way, if you are considering other markets, do a thorough comparative analysis of them. I think that you will find that the Syracuse market has much to offer.

I would love to give you a tour of Syracuse if you are in the neighborhood. Looking forward to hearing from you and good luck!

Tony L. D'Anzica, Esq.
DynaMax Realty, Inc.
Property Manager and Realtor

[Gail Smith]

Hi Rob. I live in Rochester and am a local investor. I'd be happy to help you locate a nice cash flowing property, locally. You're right, our taxes are very high compared to other areas but our property values are very reasonable and there are lots of good rental areas with great cash flow. Not being local, you just need to make sure that whatever you consider is in good condition with limited repairs needed. I hate seeing out of state landlords run down their properties and there are lots of those around here! Feel free to contact [email protected].