Albany, NY Market potential advise

[Lior Solomon]

Dear forum members,

I'm new to this website and to real estate investment in general. So I would like to thank you for taking your time giving an advise to a newbie :)

I've been looking together with a partner to invest into the multi family market.
We've been going through all kind of areas and in the past 2 weeks we landed on Albany, NY.

Here is a quick analysis we ran over Albany, I would love to hear your thoughts of what parameters are missing and what's your thoughts about Albany in general.

- Unemployment rate went down from 9.1% in January 2013 to 6.9% April 2013.
- Population growth was in decline in the past 10 years (-6.66%) and past 5 years (-2.57%) and showing recovery on the forecast to 2013 (0.02%)
- Appreciation rate wasn't doing good in the past 5 years(-4.48% annual avg) but there a change in the past 12 months (-3.67%)
- It defiantly looks like a renters market with more then 60% renting. so cash flow shouldn't be a problem as long as the unemployment rate keeps on preforming that good.
- I also like the idea that there are plenty of educational institutes in the city and students can promise a low rate of vacancy.

Our exist strategy would be buy and hold and enjoying the cash flow while waiting for the market to gain.

Again thanks for the advise.

Lior