All Forum Posts by: Alexis Bliss

First of all, you are BRILLIANT to be asking this.  The mere fact that you're doing so is a great indicator of your future success.

I know you're getting some excellent real estate advice, so I'll button it on that subject for now (not easy, but I'll do it anyway).  But DO call me in the future when you're ready.

Right now in your life, there are BIG traps -- credit cards and education.  Avoid those, and you'll be okay.

I'm speaking as a Ph.D. -- Don't pay for any education/training that doesn't DIRECTLY bring you money.  Make sure whenever you lay a dollar out, you get lotsa dollars back.  So don't pay for sexy college degrees.  I'd rather see you go to NTTS and drive a truck for a few years until you get your investment game on.

Everything else aside, the absolute biggest move you can make is to "househack."  As soon as you can, own a property where you live in it and receive rental income.  At first, maybe you only break even.  But that's way better than renting.

Good luck.

Hi, James. I looked up this house in the MLS. It appears to me that it was offered for rent beginning in May of 2017 for $1,150 and as of January 2018, there were still no takers. And it was in the same condition at that time. So, $1,400 - $1,500/month rent might be a little too optimistic.

In my personal experience (as an investor and agent), appraisals track fairly to market values in Onondaga County.  If a property is listed too high, or receives a bloated offer, the appraisal may fall short.  But as long as you either have good market knowledge or are working with someone who provides you with that knowledge, you won't run into many appraisal surprises.

I mostly invest/list/sell in the Onondaga County area, drifting just a tad north/south/east/west into adjoining counties.  I do this to take advantage of the population density here.  That being said, our population is not increasing; it is decreasing overall.  But certain population sectors are increasing; depending on your investment strategy, Onondaga County may represent a BOOM market.

If you're looking to pick up some properties a little north, message me because I do know a gent who is exploring the idea of liquidating one or two properties north of Onondaga County.

Cheers!

Hi, Angela.  I live AND invest in Syracuse and can attest that this area offers a lot of great investment potential.  I'm going to send you a private message, because a moderator recently scolded me for discussing too candidly what I'm doing in the Syracuse market.

Hi, Larry Shephard.  I'm Larry Brown's friend, and I just sent you a message.

After 7-8 years of successful real estate investment with many deals, I must regrettably admit this project is my first loss and liquidate it as-is for much less than I have into it.  Stunning 3-unit on the outskirts of Strathmore, this building presents all the architectural splendor characteristic of the neighborhood, and needs someone with capital and vision to complete the restoration.  The first two floors offer giant-sized apartments with very high ceilings, french doors, enclosed porches, hardwood floors with some beautiful inlays, and fireplaces.  

The second floor has been renovated and is 99% rent-ready.  First and third floors still require renovation.  

New plumbing and electric throughout, and many new windows.  Third floor has a newer furnace.

Shared driveway with adjacent property, but plenty of dedicated parking for 3-5 vehicles.

Location is convenient to downtown business district, St. Joe's and other medical employment, and to Syracuse University.  It's also just a few minutes away from Onondaga Hill employment, including Onondaga Community College.  My existing rental in this area consistently draws high rent from quality tenants, typically in education or medical professions.

Challenges for new owner are:  complete renovations, re-establish zoning for third floor.

Asking $69,900 or best offer.  Will entertain rent-to-own/lease option -- terms to be negotiated with minimum down of $10,000.