Returns in the Capital Region

[Sean Ryan]

Hey everybody,

I'm looking to invest in small Multifamily properties near Albany, New York. I'm looking at the various cities and suburbs and I was wondering what type of return people expect in each area. Do your properties typically meet "the 2% rule?" What is your typical purchase price and rent? I've tested the 2% rule on a lot of properties but i tend to end up between 1.5% and 1.75% most of the time. I've also run numbers using the BP calculators and properties tend to cash flow a little bhile using conservative numbers. 

Here are some cities I'm looking at (Also serving as a keyword spam): Troy, Albany, Schenectady, Colonie, Clifton Park, Rensselaer, Cohoes, Watervliet, Wynantskill, Niskayuna

I'm primarily looking at Troy right now, with the goal of using an FHA loan to purchase a 3/4 unit. Any advice and tips are welcome.

Best,

Sean