New Member from Upstate NY

[Michael S.]

Hello everyone,

I have been lurking over the forums for a couple of months and have decided make your acquaintance. I am a 34 year old Air Force veteran (2W0) and am currently residing in upstate NY near FT Drum.

My REI goals are:
short-term -> Learn as much as possible and close on first deal by the end of the year
mid-term -> $10k/mo positive cash flow within 10 years
long-term -> Maintain a sustainable growth investment portfolio

My preferred strategy is SFR/MFR Buy and Hold.

I look forward to learning more from each of you as time goes on and hopefully will be able to glean enough to start successfully investing in the near future. To those who have provided insightful posts/podcasts/blogs etc., thank you for taking the time to share your experiences and teach the rest of us what worked and what didn't.

Michael
I.Y.A.A.Y.A.S

[Steve B.]

Black River and Calcium are great towns as they are literally right outside the main gate and for the most part not run down at all. I know good homes sell there far quicker than the more outlying towns just for that reason, I'm sure rentals are the same. 

Calcium has those 2 old housing areas, but from what I hear they are not very popular because the homes were built very cheap, the management is not very good, and the rent is high. Also consider the town of Philadelphia as they have their own municipal power company instead of National Greed, makes heat dramatically cheaper for tenants, and Indian River Middle and High School is right outside town. 

Just note that your main competition in the single family market around there is the housing on base. Thousands of brand new very nice homes have been constructed over the last few years and lately there really isn't a wait list to move in. You can always call the housing office and ask. Most of your lower enlisted (majority of ft drum) prefer on-base housing because of the convenience and free utilities. With my house I targeted the higher enlisted/officers that did not want to give up their whole BAH to live on base. There is also still a huge demand for 4-5 bedroom homes if you can find one for a deal, they are not common in the area or on base. You would be surprised how many military families have 3-4 kids!

Also avoid all the big-time property managers around there and just manage it yourself. You will save yourself a lot of aggravation, trust me! I personally would't buy any property up there until the government decides what if any downsizing will occur at Ft Drum. I doubt it will be drastic but you never know, a huge cut in Soldiers will have a dramatic affect on real estate in the area just as it did when the base expanded 10 years ago.