First-Time Investment Property in Rochester

[Robert Badalov]

Hi everyone,

I was interested in beginning my real estate investment journey with purchasing my first ever duplex in Rochester, NY. My budget would be up to 100k as I have seen their market is pretty affordable. 

Does anyone have experience in this they can assist me with? I would be working with 20% down but I do not know exactly where to start... I'm guessing the first with a mortgage lender to get preapproved? I'm currently in the process of fixing my credit.

I currently live in Queens, NY so I assume I would have to hire a property management company. For those who are experienced in these markets, would you recommend Rochester, NY? I spoke with 1 local real estate agent and they gave me a truthful answer of actually avoiding these neighborhoods, or at least up to a 100k budget stating the local demographics aren't the best and in her experience, tenants do not pay rent on time and it's not the best 1st time investment property.

I wanted to inquire here as well as she mentioned she's only been in the game for a few years and hates being a landlord so I don't know if she has a biased opinion.

I look forward to any and all help!

Robert

[Maria Guevara]

I have 2 units available in Jun and Jul and I got more than 225 leads.  These properties are close to the U of R, about 1.2 miles.  There’s a shortage in rentals in Rochester.