Buying in Buffalo NY area

[Mike Pepperday]

Vent session here... I am currently house hacking and looking to purchase my second multi family property for a while now...  I have put offers on around 7-8 different properties and have been blown out on every offer. I haven’t been underbidding but most of these offers have been cash deals or the accepting offer has been $15-20k more than asking price. With the going rents in the areas it’s mind boggling to me that these people are making money or breaking even every month. My fiancé and I need a second property to start having financial freedom to start our real estate path to set us up for success but it’s starting to feel like a dead end of how things have been going recently. Or any off market properties that came my way are absolute disasters physically and financially  that doesn’t make sense to invest in. Any advice what to do or keep grinding it out and hopefully one will come our way?

[Oz Radiano]

Hey Mike,

I have some suggestions for you, hope they can help:

• 7-8 offers are not enough. It takes me 10-15 offers to get a property under contract, which is okay for the volume of my work (and yours as well by the way you describe it)
  
• Try connecting with agents and prove them you can buy - they can send off market deals off your way with a motivated seller.
• Try thinking of going to another market

Good luck!