Newburgh NY & Sullivan County NY

[Wayne Mack]

Hey everyone,

Ive been doing a little more digging in regards to markets new my local market (North Jersey)

Ive comes across Newburgh NY and Liberty NY (Sullivan County). I began my research in these markets about two-three weeks ago and I am trying to find and talk to some locals from those areas or some who may invest in those areas. 

Im going to see some multi family properties in those respective towns this weekend and I would like some further insight such as:

How are the local renters? (what kind of tenants can I expect?)

How is the rental market? (rising? falling? steady?)

I would like to discuss these towns if anyone has had any success or general experience investing there

Thanks in advance

Wayne

[Tim Moran]

Wayne, 

I can be semi-helpful here as I'm also researching the area and am looking at the both the seasonal and year-round rental markets. Sullivan County home prices are all over the place, but there are a lot of people who have been trying to ride out almost a decade of decline since 2008 who are now extremely motivated to sell. I've been up there the last few weekends looking around and getting a sense of the place. Locals say there's a lack of annual rentals in some towns (Livingston Manor, for instance). Summer rentals can bring in big money for the right spot, as the county has been "rediscovered" over the past few years by hip city people with deep pockets. That said, there are still A LOT of cheap properties up there and there's still a lot of economic blight in towns like Monticello and Liberty. To me, it's a mixed bag but seems the area seems to be on an upswing and it's a great place to pluck cheap deals. Write me and let me know how your research is going!