First time investor in Buffalo NY market

[Account Closed]

Hi all, I'm new to BP and considering buying my first investment property in Buffalo, NY. I'm a Buffalo native that has been living in NYC for the past three years so very familiar with the area and have family living there currently. I'm looking to buy a multi family that cash flows and has some appreciation potential, is the market still hot? Do you think it will keep going? What neighborhoods are people investing in these days, Blackrock? West Side? University Heights? Elmwood/Allentown prices are insane. Any insight, resources would be appreciated!

Much Thanks

JK

[Adam Wigdorski]

@Josh Klemenich

Welcome. I’ve been investing in Buffalo since 2013 and have 30 units. It’s going to be a wild ride with ups and downs but you have to remember something. Real Estate investing is not sexy but it’s long term stability as long as you manage it correctly and don’t get emotional. You get over bid you get over bid. Don’t go full tilt on the next one. Stick to the math and don’t invest want you can’t afford to lose or pull back in equity in the future. There are still plenty of cash flowing properties in Buffalo and the surrounding areas but you have to be surgical. One year I looked at over 100 houses before I received a signed contract. Be patient. Don’t over extend yourself. Don’t calculate cost based off you doing the work if you don’t have time to actually do it. If you don’t want calls and can’t do after hour service calls get a property manager. Any questions reach out. Good Luck