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 

[Marie Roberts]

@Sean Ryan Hi Sean.  Those are B C areas. Are you sure you want to live there?  Here are some things to consider... It is easier to evict in Troy or Rensselaer area and taxes are lower which makes for more profit but a drive from Albany to colonie is much easier and faster than a drive from Troy.