Cornwall, NY · Member since 2013 · 7 posts · 0 votes
13y
I'm not yet "investment ready" as I'd like to get some other debts in order, etc. but I am living in and actively browsing the Cornwall area which is just outside of Newburgh.
Cornwall, NY · Member since 2013 · 7 posts · 0 votes
13y
I think there is potential. My mentor has been landlording here for 20+ years and it's a great community. Not super-high CF opportunities but decent enough and a place I could easily see myself spending my days. I prefer to look at properties where I can be more hands on rather than long-distance landlording.
Cornwall, NY · Member since 2013 · 7 posts · 0 votes
13y
It's possible, I honestly haven't looked much into other areas much because of my desire to be more hands on. It is certainly more tax friendly as you get north though, thats for sure.
Ossining, NY · Member since 2013 · 3 posts · 0 votes
13y
Good morning, I live in westchester county where the high taxes eat away at any ROI. Starting to look upstate for rental props. Already have sf in buffalo., but looking closer to home..
Always looking to network.
Rental Property Investor · Glens falls, NY · Member since 2013 · 124 posts · 50 votes
13y
Hey guys, I just purchased my first multifamily about 5 mins north of Albany In watervilite. I'm new to investing but always looking to meet new investors and network.
As far as CF, taxes are a big factor. In some places it's nearly impossible to CF, but other cities 5 mins away may have much lower taxes. So it all comes down to finding a good area. From what I've seen Albany has higher taxes, but it gets lower as you move away from Albany into surrounding counties.
Contractor · Northville, NY · Member since 2013 · 74 posts · 14 votes
13y
Hey everyone, I am investing in and a little north of Albany . You can get properties up here with decent cash flow. I agree with Nick that some cities taxes are heavy while a neighboring areas are reasonable.
Singapore, Singapore · Member since 2013 · 19 posts · 1 vote
13y
Congrats, Nick Leboeuf, on your first purchase. I have yet to make mine, but keeping an eye out a bit further south, from Newburgh up to Kingston. Taxes are a killer in the tri-state area.
How difficult do you guys find it to fill multi-fam's in the smaller cities? Do you have any trouble finding quality tenants?
Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
13y
Originally posted by Justin Rickson:
Hey everyone, I am investing in and a little north of Albany . You can get properties up here with decent cash flow. I agree with Nick that some cities taxes are heavy while a neighboring areas are reasonable.
Just the opposite in Buffalo, city taxes are dirt cheap allowing great cash flow, suburbs are outrageous.
Singapore, Singapore · Member since 2013 · 19 posts · 1 vote
13y
David Niles: I wish Buffalo was closer to me down in the city. I think it's a great investment market, but I need something closer to home, as I really prefer to be more hands on.
Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
13y
Originally posted by Andrew Baisley:
David Niles: I wish Buffalo was closer to me down in the city. I think it's a great investment market, but I need something closer to home, as I really prefer to be more hands on.
Cant blame you at all for that Andrew I have seen my share of out of area investors get burned by bad houses, huge bogus repairs etc etc etc.
Singapore, Singapore · Member since 2013 · 19 posts · 1 vote
13y
Pete Nater
I certainly would (I live in Queens), but don't want to be a slumlord and not sure that there are smaller properties in these areas that can cash flow. Maybe Bronx, but property taxes in Westchester are insane.
Highland, NY · Member since 2013 · 169 posts · 130 votes
13y
Andrew, I just accepted your colleague request. Good to see other people interested in the area, makes me think I'm less insane than I originally thought.
I'd be interested to get feedback on filling multi-families in these small communities as well. The property I'm currently looking at has 1 apt that has been vacant going on 2mos now. The agent/PM says it's because she is picky as to who rents but I'm starting to suspect a soft market and few inquiries.
Contractor · Northville, NY · Member since 2013 · 74 posts · 14 votes
13y
Andrew Baisley
I haven't had too hard of a time finding quality tenants. I have one unit in Troy that gets filled within a month when vacant usually . The one I have in Albany is by the college area so I have learned the hard way the importance of timing. If timed right you can find a good tenant reasonably. If not your stuck waiting. For the most part you end up getting students or undesirable candidates. Just have to be a little patient, I have great tenants currently. Not true in all areas of Albany, each neighborhood is unique.
Wholesaler · Bristol, CT · Member since 2013 · 2 posts · 0 votes
13y
Hi
My name is Anitra and I am the co owner of Infinite Investments, located in the capital district ( Albany area), and I am also looking to network with people that are investing in my area. Contact me if you are interested in doing some deals! I know that I am!!! if you have any properties in this area please let me know as I have spent a lot of time building my buyer and rehab specialist list in the past few months. Hope to hear from you soon and prosperous ventures to you!!!