Considering investing in Syracuse

[Josh Shaughnessy]

Just looking at Syracuse as an option for expanding my portfolio and trying to get a better idea of the market. I generally like investing in university towns because they seem to maintain a steady steam of tenants. 

Would you recommend investing in Syracuse?

Are there any hidden benefits/pitfalls to owning properties in Syracuse that I might not know as someone from out of state?

Which neighborhoods are strong/on the rise? Which are areas to avoid?

I don't want to get too specific with any questions since I'm in the early stages. Basically I'm just trying to figure out the things you all think a new investor to the area needs to know. 

Thanks in advance for the

[Ronald Starusnak]

Josh, the properties located within any reasonable distance from S.U. are already gobbled up and the ones that pop up for sale are inflated sometimes to 5x the value of a property 1 mile away. Syracuse has some bad areas, primarily West of Route 81 which is West of S.U. There has been an approved project that in my opinion will turn one of the worst areas of the city into a normal part of the city. The State is removing I-81 which has acted as a barrier between the Syracuse University community and the low income community. Inventory is very low right now and contractors are difficult to find, while money and credit is easy to come by.