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Updated over 2 years ago, 04/07/2022
Looking for advice on my target markets!
Hi BP,
I'm a rookie from the UK but living in Nassau County, Long Island NY. I'm currently working in commercial and HOA property management and analyzing potential markets in which to "buy and hold" a SFH or small multi. I want to self manage, so the markets I've looked at are all within a 3 hour drive from home. I would love some feedback from anyone with experience investing in any of these 3 markets and/or their surrounding areas:
Kingston NY
Small market so I assume deals will be very tough to find. From scouring the MLS it seems like potential for great deals is there. Rents are high, taxes relatively low and I could see some appreciation too.
Albany NY
Larger market, potential for rent by room for students. Taxes are high, no appreciation but cash flow seems more than possible. Plenty of duplex's for ~$200k.
LeHigh Valley PA
Largest Market, low taxes but high closing costs, a much more landlord friendly state than NY. Potential for student rental in Bethlehem. Cash flow is tight but possible and no appreciation expected.
I believe that successful investment is possible in any of these 3. I'm looking for feedback or pointers from anyone that has experience investing in these markets.
Thanks in advance!