All Forum Posts by: Alex Fox

Also, I'm currently analyzing with a 7% interest rate. Current rates for investment properties are 6%+ and will apparently be rising further this year.

Finding a market that suits you is a personal thing. For example, I look at markets that are within a 3 hour drive of my hometown because I want to be able to visit my property and get home within a day. I also want to invest in a state with landlord friendly laws. Try defining your criteria first, and then finding states/areas that match your criteria.

If you're correctly analyzing deals and not finding anything with COC of 10%+, you need to switch markets.

An example of a market with MLS deals that cash flow would be Binghamton NY. You will typically find that these cashflow markets will not offer appreciation and may have a poor quality tenant pool, so I'm not suggesting you invest there. But start analyzing some properties in Binghamton, if you're still not seeing 10%+ CoC return, there's something wrong with your process of analysis.

I’m looking for insight from anyone that has or currently invests in Binghampton NY.

I'm analyzing various markets within 3-4 drive from Long Island and the numbers in Binghampton look almost too good to be true! I am open to both BRRR and buy and hold opportunities.

I am of course aware of the very high crime rate and have narrowed my focus to neighborhoods which should have a more desireable tenant base. 

Any advice or insight you can provide would be appreciated!

@Randy Gutierrez I have read online that closing costs in PA are typically ~6%, would be glad to hear I'm wrong about that! I've sent you a private message

@Akshay Nihalaney

Thank you for your response, a reply from you in another thread regarding investing in Albany was actually partly what started me looking in to the market. When you're renting to students, are you renting by the room or to groups? And for travel nurses, are you using AirBnb, or do they tend to stay for a number of months?

@Kyle Gendron

Thanks Kyle, I really appreciate your advice. I will be sure to check the area around AMC. I welcome any data you can provide, especially if you have anything on rental comps for specific areas of the city.

Hi BP,

I'm a rookie from the UK but living in Nassau County, Long Island NY. I'm currently working in commercial and HOA property management and analyzing potential markets in which to "buy and hold" a SFH or small multi. I want to self manage, so the markets I've looked at are all within a 3 hour drive from home. I would love some feedback from anyone with experience investing in any of these 3 markets and/or their surrounding areas:

Kingston NY

Small market so I assume deals will be very tough to find. From scouring the MLS it seems like potential for great deals is there. Rents are high, taxes relatively low and I could see some appreciation too.

Albany NY

Larger market, potential for rent by room for students. Taxes are high, no appreciation but cash flow seems more than possible. Plenty of duplex's for ~$200k.

LeHigh Valley PA

Largest Market, low taxes but high closing costs, a much more landlord friendly state than NY. Potential for student rental in Bethlehem. Cash flow is tight but possible and no appreciation expected.

I believe that successful investment is possible in any of these 3. I'm looking for feedback or pointers from anyone that has experience investing in these markets.

Thanks in advance!