Howdy! Newbie Just Relocated to NYC, Clueless of Upstate Market

[Hazel Shojgreen]

Hi, so I just relocated to NYC from Miami, FL; am new to real estate and want to pursue investing.  Is anyone familiar with the market in NY?  I've looked at properties outside of the city and they are reasonable in price, but am wondering if I should move forward with deals here or focus on remote investing.  HELP! 

[Dave Visaya]

Hey @Hazel Shojgreen welcome to the site! It's great to have you!

[Hazel Shojgreen]

Thanks Dave!

[Kai Kopsch]

Welcome,To the Biggerpockets World hope you will be successful.. 

[Amit Kal]

I've looked. Didn't like the overall picture. High(er) taxes. Little/no appreciation. Really cold. Poor job growth, and outside of government and universities, not many other employers.

There are very small pockets of Rochester, Syracuse and even Buffalo I would consider (the trendy/fun neighborhoods) but the premium gap is pretty large.

Good luck, let us know what you come up with!

[Jacob Lea-Kelly]

Hey Amit,

Buffalo is a great place to invest from downstate. My family and I moved from NYC to Buffalo three years ago in order to be more hands on investors and we haven't looked back. Not to say you should move here but for investments, it's tough to beat. There are many areas gentrifying with houses that have been taken care of a houses the have been neglected for years so due diligence is very very important but there are great deals out there. The areas I like to focus on for myself and for our clients are areas where we are seeing appreciation and good returns. The areas that come to mind are the lower west side, the west side, the near east, and parts of South Buffalo.

Let me know if you have any specific questions and I would be happy to discuss them with you.

[Hazel Shojgreen]

Thanks so much Kai! 

Amit, I appreciate your feedback; yours as well Jacob, good to know.