New Investor looking in Albany/Troy NY region.

[Robert Bienes]

Hello All,

A newbie here living in NYC looking to invest in multi-family (2-4) units for buy and hold purposes and I will not be living in the property. I'm looking into the Albany/Troy area of New York because buying in NYC is probably out of the picture for me at the moment. Fortunately I have a partner that lives in the area with skills that will be able to handle the management of the property.

Some of the pros of the area are seat of government, hospital, many good colleges and affordable properties. I know the area well enough to know the neighborhoods can change almost on a block by block basis from good to not so good.

So far I have created a list with the help of a realtor of a few properties that I'm going to see this coming weekend. I've run several of them through the Rental Property Calculator and as long as my inputs are reality based, they can give a nice return.

I'm just trying to gauge whether or not I'm on the right path, or is this an area to be avoided? Any advice I can get on the area will greatly be appreciated, or any other advice for a new investor.

Thanks,

Rob