Best zip code to invest in Rochester NY? Buy and hold

Ewa Beach, HI · Member since 2016 · 9 posts · 9 votes

hello and this is my second post on BP. I'm looking for a C class location in Rochester NY? Can the experts recommend zip code locations please. I have about $30k to invest with, thank you!

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Mark UpdegraffBusiness Member

Real Estate Broker · Rochester, NY · Member since 2010 · 1k+ posts · 692 votes

slim pickings at 30k. Everyone I've advised against it has ended up losing their *** on those properties . They never end with the "long" hold position that they claimed either

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Mark UpdegraffBusiness Member
Real Estate Broker · Rochester, NY · Member since 2010 · 1k+ posts · 692 votes
9y
slim pickings at 30k. Everyone I've advised against it has ended up losing their *** on those properties . They never end with the "long" hold position that they claimed either
Podcast Guest on Show #112
Updegraff Group Realty4.746 Reviews
Website View Page
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Matthew DrouinPro Member
Developer · Rochester, NY · Member since 2016 · 406 posts · 339 votes
9y
I agree with Mark. Stuff that is under 30k is usually absolute junk. But @Mark Updegraff assume @Romar Lagamo has 30k to put down on something with the use of 80% leverage, how would you advise him?
Podcast Guest on Show The $150K “Stolen” Rental Property and How to Avoid a Real Estate Scam
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Mark UpdegraffBusiness Member
Real Estate Broker · Rochester, NY · Member since 2010 · 1k+ posts · 692 votes
9y
@Matthew Drouin most new investors can't wrapt their heads around what I do. And then I get to hear them cry when nothing worked out, they lost a ton of money and need to dump everything they bought at a fire sale price. I would say maybe as few as 10-20% actually take my advice and let me direct them rather than trying to blaze their own trail. I'm putting something together right now on for a buyer who DID listed to me, less than two years ago. He is going to make 100k profit on his sale, this is no joke!
Why the !@#$%^ didn't I do that deal? We live in a world of abundance. One person can't possibly do every good deal. Most "investors" never make the mindset leap from scarcity to abundance.
In response to your question. It all comes down to the numbers. I'm a firm advocate that restricting your buying criteria in any manner OTHER than your financial limitations leads to fewer opportunities. Those that can let everything go, take good advice, and make a calculated risk are those that actually succeed.
And, they are the exception not the norm... unfortunately most people will read this, and then do something stupid anyway.
Opportunity is everywhere if you're diligent.
Cheers!
Mark
Podcast Guest on Show #112
Updegraff Group Realty4.746 Reviews
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Romar Lagamo
OP
Ewa Beach, HI · Member since 2016 · 9 posts · 9 votes
9y
@Gabriel freeman yes please send me some pictures and info
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Martin Grizzanti
Investor · Rochester, NY · Member since 2015 · 499 posts · 169 votes
9y
I am finding some success in 14619. It was a mixed use building that I bought for $48k that brings in $2,400 a month. I used private money, so I am paying 12% on loan, but I would do it again. I have seen a lot of ads from national companies that claim to loan at 7.99% or 8%, has anyone used any one of these companies?
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Michael Beinetti
Investor · Rochester, NY · Member since 2014 · 90 posts · 41 votes
9y
@Mark Updegraff "Those that can let everything go, take good advice, and make a calculated risk are those that actually succeed."
Truth. Calculated risk is the best kind of risk!
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