Albany ny

[Kelly Jacobson]

hi everyone.  I live in albany and currently preparing approved for fha loan. I would like to buy a 2- 4 unit property to get started. I'm open to suggestions and would like to meet some people and get all the info I can in investing.

[Steve B.]

@Kelly Jacobson St Rose seems like they keep encroaching on the neighborhood, but I don't view that as a bad thing. If you can get a property that borders the college they may buy it someday for a premium, Union College in Schenectady has been doing that for awhile. 

Center Square is expensive as I'm sure you know unless you want a rehab project, even those are hard to find, trust me I'm always looking! Student rentals in Albany can be very profitable, just do your due diligence and enforce the rules. If you can find a tired landlord you can get a good deal. Look for poorly written craigslist ads with 1 picture or none at all, those are usually your mom and pop landlords and usually older and ready to retire, especially if its a student rental! 

Taxes are high everywhere here but some locations are lower than others. Troy is a little bit less on average and they are landlord friendly. If you want to know Troy get out of the car and walk around, go to their First Friday, and talk with RPI students to see where they are living and what they like. Don't rule out Cohoes or Watervliet either, not as happening as Troy, but its up and coming as well, and taxes there are pretty low compared to Albany.