Rental Property Investor · Saratoga Springs, NY · Member since 2019 · 32 posts · 27 votes
Hey Everyone.
I've been getting more and more into real estate investing over the past six months. I've been reading articles and book, watching videos of people who have done it, and looking at properties on the market. I'm in the Saratoga area and also looking in Schenectady, Troy, Albany, and Cohoes for places. From what I've heard, multi-family rentals is what has my interest the most. I know these have more tenants and are more expensive but that doesn't intimidate me for the challenge that comes with it. Hopefully I can connect with other local real estate investors in this forum (not calling myself an investor by any means at this point) and learn as much as possible and ultimately purchase my first rental property. Hope investing is going well for everyone.
Rental Property Investor · Greenwich, NY · Member since 2018 · 33 posts · 17 votes
7y
Welcome Michael!
This is an excellent area to invest in. Networking and meeting other investors are key. The meet-up at Fenimore's Pub at The Queensbury Hotel, 88 Ridge Street Glens Falls, New York on March 18 will be a great way to connect with like-minded people.
Rental Property Investor · Saratoga Springs, NY · Member since 2017 · 51 posts · 16 votes
7y
@Michael Fitts welcome aboard! As you know Saratoga is very expensive, but once you get a couple miles off Broadway it’s much more affordable and can still demand high rents!
Rental Property Investor · Greenwich, NY · Member since 2018 · 33 posts · 17 votes
7y
Welcome Michael!
This is an excellent area to invest in. Networking and meeting other investors are key. The meet-up at Fenimore's Pub at The Queensbury Hotel, 88 Ridge Street Glens Falls, New York on March 18 will be a great way to connect with like-minded people.
If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.
Rental Property Investor · Greenfield Center, NY · Member since 2015 · 39 posts · 19 votes
7y
Michael, I agree with Brian V that searching just outside of Saratoga Springs is where you'll find opportunity. My company invest in Saratoga,Warren, and Washington counties and have had success in secondary towns as well as downtown.
Dan Jordan, I'm interested in the Queensbury meet up you mentioned in March. Is that a BP Meetup? Is it monthly? Whose the organizer? Let me know, I'd like to attend.
Rental Property Investor · Bayonne, NJ · Member since 2019 · 31 posts · 24 votes
7y
@Michael Fitts welcome to the community Mike. My property management office is in Elmsford NY, little bit south from you but if there is anything you ever need! We are here for you!
Rental Property Investor · Greenwich, NY · Member since 2018 · 33 posts · 17 votes
7y
Brian,
Yes, the March event in Glens Falls is a BP Meet-up. I am the organizer and we hope to meet monthly. This is the first meet-up, that I know of, in the Glens Falls area. I attended the Albany, NY meet-up last month and it was excellent with a very good turn out for the first one. Emily Lipton is the organizer for the Albany meet-up. If you can, I recommend attending that one as well.
Real Estate Agent · Albany, NY · Member since 2016 · 21 posts · 10 votes
7y
Welcome to the community @Michael Fitts. It's always good to connect with like minded people. You're right that more units generally = higher purchase price, but you also tend to get a "bulk discount", where your price per unit tends to go down as # of units goes up. Not always the case, but compared to single family homes, you can often get more for less (per door). All the Cities you mentioned have places of opportunity, and deals that can be found at a relatively low cost of entry. Good luck!
Rental Property Investor · Greenwich, NY · Member since 2018 · 33 posts · 17 votes
7y
Hi Kevin,
The BP Glens Falls, NY meeting is from 6-8 pm at Fenimore's Pub at The Queensbury Hotel, 88 Ridge Street Glens Falls, New York on March 18. Hope you can make it; it will be an excellent way to connect with local investors.
Rental Property Investor · Albany, NY · Member since 2015 · 51 posts · 18 votes
7y
@Michael Fitts welcome to BP! I'm just like you, i'm a long time lurker here on BP and finally making a move and purchasing my first investment property - multiunit in Albany. I highly suggest listening to BP podcasts, I've never been able to find a mentor to guide me but listening to podcasts on here have been my way of finding a mentor - through other peoples mistakes. I also don't consider myself a local real estate investor, but I hope one day I can.
If there is anything I can help you with, please don't hesitate to reach out to me. I'm still going through the purchasing process, I've learned a lot through this so I'm here to help when I can.
Specialist · Middle Grove, NY · Member since 2016 · 57 posts · 12 votes
7y
Hi All!
I have been a member of BP for a while, but I am just realizing there are so many local connections here. I am so excited. I feel like I've been lurking around for months.
I can't make the April meet up but would love to come to future ones.
Rental Property Investor · Greenwich, NY · Member since 2018 · 33 posts · 17 votes
7y
Hi Melissa,
Glad you found us! We meet the 3rd Monday of the month from 6-8 pm at Fenimore's Pub in the Queensbury Hotel in Glens Falls, NY. I hope you can make the May meet up. Looking forward to meeting you.