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Updated almost 5 years ago on . Most recent reply

User Stats

91
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Fan Bi
  • Investor
  • Boston, MA
45
Votes |
91
Posts

State of RE Investing in CNY 2020

Fan Bi
  • Investor
  • Boston, MA
Posted

Looking to get feedback from the BP community on investing in CNY - from a quick search on MLS you can find small multis for $50,000 a unit with rents going for $800 a month. Back of the envelope, there's plenty of margin for cashflow.

Most of my experience has been investing in B and C-class multis in Providence, RI where units are closer to $80,000 a unit in decent condition, renting for $900 a month. The economic occupancy with B and C-class in Providence is pretty challenging and it's not uncommon to be running a 5% delinquency rate. 

Would love to learn a local investor's perspective on CNY (Syracuse, Utica, Rochester, Rome) over the last couple of years.

Most Popular Reply

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1,516
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Nick Rutkowski#2 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Ithaca, NY
1,243
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1,516
Posts
Nick Rutkowski#2 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Ithaca, NY
Replied

@Fan Bi

Great time to come in to Syracuse. Microsoft and Amazon are planning on moving in and millennials are moving to the city.

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