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Updated over 5 years ago on . Most recent reply

User Stats

71
Posts
47
Votes
Joseph R. Smith
  • Rental Property Investor
  • Carthage, NY
47
Votes |
71
Posts

Troy, NY (or parts of Albany, NY) the next explosive growth?

Joseph R. Smith
  • Rental Property Investor
  • Carthage, NY
Posted

I am happy to have a small part in Newburgh, NY revitalization. I purchased one there for $5K cash 3 years ago. Today the BRV is around $100K, ARV is $275K. I am kicking myself for not buying another one there for $18K which recently sold for $345K. When I went to buy there, seasoned investors all laughed at me, saying I was nuts. Now what is happening in Newburgh has been all over the papers as "The next Williamsburg?" Question is, do we next look at Troy, NY? I'm looking closely. Can anyone recommend some advanced software-showing geodemographics over time?

Most Popular Reply

User Stats

146
Posts
120
Votes
Ryan Vienneau
  • Investor
  • Stillwater, NY
120
Votes |
146
Posts
Ryan Vienneau
  • Investor
  • Stillwater, NY
Replied

@Joseph R. Smith You're 5 years late to Troy, I'm a property manager there and we are at the tail end of a boom and revitalization going on there, prices are overheated in my opinion, but deals can still be found. However, crime is out of control in north and south troy this year which is hurting vacancy.

  • Ryan Vienneau
business profile image
Veno Properties LLC
4.4 stars
123 Reviews

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