Investing in WNY / Buffalo NY area

[Shawn Feldmann]

I'm looking to purchase a small multi family unit in or around the buffalo area. I will most likely start by house hacking and hopefully move forward from there. I'm looking for some tips and advise on property location and any other helpful information about this area. Also any possible information for using an FHA loan to make my purchase.

Thank you!

[Matthew Irish-Jones]

@Shawn Feldmann make sure you know how to analyze a property. You also need accurate projections on CapEx and Repair costs on each specific property. They can really sink an investment. The FHA loan is a great way to get started, same way I started. You can use an FHA loan for 1-4 units so you have all of them available to look at. Maybe don't bite off more than you can chew though.

You should pick a location you are ok living in, and make sure the home is a cash flow positive investment regardless of living there.  So in short, you should calculate your after move out rental rates and make sure it cash flows.  Otherwise you will be stuck with a property you may have to sell.