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Updated about 7 years ago,
Rochester NY - Worth buying distressed properties?
Hey all! I'm fairly new to real estate and have quickly found that the great Canadian north is a difficult place to get started in with the high properties prices. I've been looking at the closest cities south of the border for investment opportunities. Those being Buffalo and Rochester.
My biggest concerns are the declining population and crime rates. I've been to both cities a couple of times to scout the areas, and I'm uncertain if they're good places for investing in rental properties. The prices (although in rougher neighbourhoods) seem like a great opportunity for fixing and renting.
I guess what I'm looking for is some further insight into the low-end US markets, any cautionary points and so on. Does anyone here have first hand experience with the Rochester/Buffalo markets?
Best,
Reza