"Foreseeable Future" for Binghamton / Southern Tier Area

[Ademir Zukic]

Hello, my name is Ademir and in fact this is my first post! Excited to delve into the Real estate, and even more so after running into Bigger Pockets. Much to learn but got to start somewhere! In any regard, I am looking to reach out to the Southern Tier folk and anyone knowledgeable about the current status and the "worth" to start investing in this area, especially considering the students. For those local here, it is evident that the university students are on the rise each year, with all new buildings and facilities opening around the area related to the campus. More students means much higher potential for this market, especially for this particular clientele. Although with this in mind, there are many new apartments / lofts being created that seem to be targeting this audience. Should this be noted as red flag to get into this market? Will this mean that the market rate may change for the better or worse, meaning that competitive renting prices must be met to obtain tenants yet also have cash flow? With all of these new apartments and lofts being made, it is clear that there is a prediction for the future on influx of students to this area. With that in mind, will someone getting into a startup on a much smaller scale compared to these apartments (like single or duplex housing / buy & hold) have issues with all of these new options available for tenants to choose from? Looking forward to feedback as I am learning, thanks!

[Gary Kline]

The Southern Tier is truly in flux.  There are more student rental conversions but there are more students.  Prime student locations are always desired.  Students do comparison shop and rumor has it have even made an app so that they can negotiate better with landlords.  You need to pair up with a knowledgable Realtor who can walk you through the myriad of options in the market.  Talk to Stephanie Jacobson who is on Bigger Pockets.  She specializes in Student Rentals in and around Binghamton University and Ithaca (Cornell and Ithaca College areas).

If I can assist feel free to reach out to me.  I have been closing real estate transactions for 30 years and have assisted buyers in purchasing 1 unit up to multiple apartment complexes.