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Updated almost 6 years ago on . Most recent reply

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Simon Savard
  • Vancouver / Quebec
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Best neighborhood for BRRR in Rochester

Simon Savard
  • Vancouver / Quebec
Posted

Hi All!

I'm new to real investing in the US, and I'm looking for a first rental property in Rochester. I've noticed quite a broad range of prices and general conditions in the properties from neighborhood to neighborhood, even on pretty short distances. From good ol' Canada, I find it a bit difficult to determine the potential increase of value of a property and the actual quality of a neighborhood (based on Google street view....).

I have a real estate agent working with me on that, but I thought I'd still go out here and ask for your inputs:
What area should I aim for in Rochester (or around) for a BRRR investment?

Thanks!

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Mark Updegraff
  • Investor
  • Rochester, NY
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Mark Updegraff
  • Investor
  • Rochester, NY
Replied

Rochester is a pretty unique place, and it isn't as easy as just picking an area for the BRRR method. There will typically be "value add" plays where you'll be doing some work. Common examples are exterior paint, interior paint, kitchens and baths but could also involve a full on gut. We have a lot of deferred stock sprinkled throughout the entire area, even in "nice" areas. Generally speaking the 19th Ward is probably worth considering if you're not already paying a premium for the location. Anywhere in the SE section of the city (if the numbers work) and most recently there has been a resurgence in Merchants. Obviously Browncroft if you could find something there too. Homestead Heights may be worth considering, but be careful!

Hope that helps!!  Happy Spring Y'all!!

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