Need information on Rochester market.
Hi,
I am based in Toronto, Canada and want to diversify into real estate market in the US with the goal of having approximately 90K NOI in the future. Over the next year, I would like to invest in 2 properties (max 2 units each) and then expand accordingly based on the experience.
I have recently started looking into Rochester real estate and wanted to connect with individuals who can provide some guidance about the local market.
1) What areas should I focus on and which ones should I avoid? I am not aiming for the highest ROI if it requires a very active involvement. I don't have a problem driving to Rochester once every month (2.5-hour drive) but more than that is not preferred. Hence, a passive property with a good return would be ideal - although I am not sure how relevant this concern is if the property manager is involved.
2) Can you please PM me the contact information of a good property manager in Rochester area and approximate monthly fees for them? (Someone you use personally)
3) Since I am Canadian, the Canadian banks are willing to provide me a mortgage with 20% down at reasonable rates. However, the only caveat is that the house can't have more than 2 units. I would like to investment fourplex, so I am wondering if you anyone is experienced in getting financing for Candian investors?
Thanks,