Syracuse NY Area Rental Investment

[Fadi Mouallem]

Would like to consider investing in a rental multi-family in Syracuse area ... I am finding out that SU area is preferred. Anyone has any experience in this market holding properties for cash flow. I appreciate any tips. Thanks. 

[Will Chamberlin]

Hi Fadi,

I live in the bay area and invest in Syracuse plus went to SU so I have some experience here. I would say that cash flow can be higher but so is management and overhead so it will depend on whether you are self-managing or using a prop mgmt company. With students you are going to be paying placements fees and painting pretty much every year. This is in addition to getting co-signers on the leases and other extra effort you won't necessarily have outside of student housing. Being remote and self-managing, I have stayed more to the suburbs for now. Maybe when I have enough properties to do real estate full-time I would consider it but just not there yet. Good luck and feel free to hit me up with any additional questions you might have. Happy to provide my two cents.