Syracuse Multi family Investment property

[Nachiappan Chockalingam]

Hey guys, I am a new first time real estate investor. I am looking at multi-family homes at Syracuse, NY. I live out of state and based on numbers available online I feel a cash on cash return of upto 15% is possible. But most properties are really old built around 1910 - 1930s. Though they have been renovated at different times, I am skeptical about buying older properties. Any thoughts on this? What should I look out for? Or should I stay away from older properties for my first investment property. I appreciate any suggestions/advice on this topic. Thanks

[Danté Belmonte]

Nachiappan,

Pleasure to meet you! I am a Syracuse investor real estate agent, an investor myself as well as I host a zoom meet up for investors monthly in this market and a podcast. 15% cash on cash is very normal in this market and I would say with some of those older properties, due to high risk you will have high reward allowing you to get an even higher cash on cash more like 25% to 30%! Message me, I would love to assist you! Have a good weekend