First Property Albany Ny Area

[Manuel Almonte]

Hello Everyone,

I am looking to buy my first property soon in the Albany NY area. I made my first offer yesterday and didn't get selected. I offered 25k less than what it was listed for because I was trying to get at least 9% coc roi. Is there a specific coc roi that you guys aim for in this market? The things that I was accounting for were the mortgage, taxes, insurance, 5% for vacancies, 5% for capital expenditure, and 5% maintenance. Also, does using a conventional loan give me any leverage? If so, how would you capitalize on it? If there is anyone in my area with experience, I would love to connect with you. Thanks in advance and happy Sunday!!