Pros and Cons of investing in upstate New York

[Lynn Fujihara]

Hi all,

I am looking into several multi-unit properties in upstate New York in the university areas.  The financials look very positive with the college students needing housing.  Anything I should be aware of as an out of state investor in New York? I heard that New York is not a friendly landlord state?  Any comments?

[Gino Barbaro]

@Lynn Fujihara

Hi Lynn

Why would you be looking outside a state that has exorbitant taxes, shedding population, high cost of living and unfriendly tenant laws and look to another state that has basically the same fundamentals?  There is practically no job growth outside of NYC, except for Buffalo with the solar company going in.  I live in the state and find it to be not a very attractive place to invest unless it is in your backyard

Gino