All Forum Posts by: Austin Wark

@Ryan Vienneau Funny, was just reading your intro to BP post. By the looks of if, you really seem to know the markets in the area. I myself live in Averill Park, right outside of Troy. 

You mention that that the only thing that would benefit us would be tax rates dropping. As Pamela was saying though, she's seen this before, and it wasn't pretty. I wish I was in the position to be able to take such gambles but as a beginner investor (still researching) I cannot. I would be very interested to hear of any successes (or failures) involving the new casino though. 

I do have a question though for you Ryan... Like i said you seem to know the area pretty well, do you have any insights on Averill Park's real estate market? I know its a pretty small town, not sure if you have even heard of it lol. Thanks for your time.

-Austin

Thank you @Pamela DeLorenzo and @Mark Elliott, I apologize about my lack of responding I have not been availible.

Pamela, that's exactly what I needed, personal experience. What your saying makes sense, the smaller businesses will get put out of buisness, thus driving the locals and the local market down. Thank you for opening my eyes too that. Like you said there are always deals, maybe a vacation rental close to the casino would do well? Like air bnb or something similar. Although Schenectady is deffinatley not a popular attraction lol, only thing worth seeing is the casino. 

Mark, that's kindve what I was just saying, deffinatley not built in a nice city. They are expecting the new casino to bring in people from even outside the capital district but that may be pretty optimistic. You guys are right, I realize now that it's probably not going to bring many new house buyers or anything or the sorts, just gamblers driving down for the day/night then heading right back up to their homes. Only spending their money strictly at the casino. 

                                                 -Austin

@Lisa Montana

Welcome! I'm glad you asked this as I was wondering the same. Everyone's been making great points you guys are awesome. 

Hey Bigger Pockets,

Many of us in the capital district are aware of the new casino being built in Schenectady, New York. It'll be ready in 2016, about 40 minutes away from Albany and Troy. I'm still a newbie when it comes to real estate investing, but it makes a lot of sense to me to think that the casino would drive real estate prices through the roof in the area. 

That makes sense...right? 

It would be bringing thousands of jobs in and even more tourists, turning Schenectady into a tourist attraction on the Mohawk River and driving real estate prices up within the next 5 years. Seems to me like a huge opportunity but i would love your professional (or amateur) opinions! Anyone had any experience with real estate nearby casinos? Any and all feedback is appreciated.

-Ausitn

Hey Bigger Pockets,

     I'm getting closer and closer to to taking the leap and buying my first property! I still haven't been able to find any good information regarding licenses and permits in New York State though. I understand that there are realtor and broker licenses, but is any of that needed if I plan to just buy and hold, and rent out a unit or two? My plan for my first property is to house hack it. Ill purchase a duplex, rent out one unit and live in the other one for little to no cost. I'm also curious about fix and flips as well. Any feedback is appreciated!

-Austin

@James Wise Thank you sir.

Hey Bigger-Pocketers,

I am a newbie investor currently living right outside of the Troy/Albany area. I am still in the research stage but plan on investing in a property in Troy by June 2016. I have been hearing a lot lately about how the Troy market is gradually starting to do better, and am interested in hearing your guys' experiences with your real estate expenditures in the area.  All feedback is greatly appreciated! 

@Maggie L. Will do!

@Maggie L. Right. I most likely would end up putting some money into the units, even if they are perfect turnkeys. Like you said it would be more of a capital expense than maintenance. Thank you so much for your knowledge.

@Josh Robbins Troy is definitely starting to do better. The shopping district of South Troy is starting to turn out very nice and beautiful. I am actually sitting down here as we speak, in my favorite cafe. I've been looking into investing down here myself as well, as there's an endless supply of tenants(not necessarily all good ones) thanks to the three colleges in the area.