Hi from New York

[Daniel Kelly]

Hi guys
What a website! Ive just discovered biggerpockets and am thrilled at the sheer amount of relevant info on here.

Bit of background, i am a non resident of the US (from London) but am in NYC on secondment for 6 months. While I am here I would like to take advantage of the relatively low property prices. I have been interested in property for years but think that the UK market is too difficult to fnd positive cash flowing rentals in.

As I am based here at the moment, I would like to look into getting some units in New York state. I am attracted to some of the areas like Rochester, Albany etc. I understand that these places may be a little depressed these days, but I will thoroughly research the area and of course my property management team. Looking at MFHs in the $10-$20k per unit range. This seems remarkably cheap. Is it too good to be true?

I have done a fair bit of research on the web but would like to hear from experienced investors about their genuine opinions on the region and or my strategy. As metioned, these are long term buy and hold properties. Growth is not the major focus.

Id appreciate any help you guys can offer.

Thanks
:D