All Forum Posts by: Casey McMahon

@Jonathan Greene Interesting! Thanks for the post; I'll see you then!

@Louise Cornell Thank you for an honest Philly perspective! That really is what I had assumed- my boyfriend keeps reminding me I can't compete with Berkshire Hathaway, which is why I started looking into Rochester. 

I am looking for a cash flowing long term buy and hold rental property. I am looking to start with about $200/month cash flow and about 6-7% CoC ROI. I hope to invest in B to C+ neighborhoods (in Philly, especially I am priced out of A and most B markets). Depending on the neighborhood, I am looking to spend around 250-300k. In Rochester, I'd be looking to spend closer to 150k on a property.

@Mike Chevalier Thank you so much for your insight!

I am minimally handy myself, so, unfortunately, I have already started to plan on that additional expense in both locations.

Philly is also a block by block city, so I have been working on accounting for that while crunching numbers. Obviously, easier said than done when on my couch, I plan to do some driving around Rochester (on a hopefully minimally snowy weekend).

I really appreciate the insight into concerns about Tenant Landlord Laws! I’ve started looking into both cities to help determine if one is significantly different.

I am finally in the place where I am ready to start investing in real estate! I have been analyzing deals for both Philadelphia, PA (where I live) and Rochester, NY (where my boyfriend lived pre-covid, and owns a house). I was wondering if anyone had any insights, pro, cons, etc. about either market that may help determine which market I pursue. 

More specifically: I am looking to start investing in single-family or small multi-family rentals as a way to build a passive income.  I do not yet own any property and this investment property will be my first purchase. 

Thank you for any and all thoughts and suggestions!