Calling Cen NY!! Financing & Neighborhoods in Central NY-Syracuse

[Angela Miller]

Hi All, Hope everyone is having a great holiday season and are making deals and money wherever you are. I have a few interest areas for the Syracuse market, which would be the first stab at long distance real estate investing. I am situated in Central California, so the financing out here is a bit different. Out here, you can't get into conventional loans on amounts below about 65K and frequently we end up paying for an appraisal and the underwriter can come back with the determination that the property can't be financed due to condition. I see quite a few available properties in the overall area near SU or within about 10 miles, but am a little hesitant to believe that some of the properties can be financed. I am pre approved and was told I am good to go for a 30 year conventional but from a California investor, this is a little crazy. I was told the lowest loan they would go for is about 25K so this is just really different from my normal comfort zone. 

Any input, thoughts, experience and/or other musings on the CNY area, best (or worst) neighborhoods, financing or contacts would bring extra love from Santa in CA!

[Alexis Bliss]

Hi, Angela.  I live AND invest in Syracuse and can attest that this area offers a lot of great investment potential.  I'm going to send you a private message, because a moderator recently scolded me for discussing too candidly what I'm doing in the Syracuse market.