All Forum Posts by: Chad Houston

@Kyle Phakkhonkham property management. You get to know types of tenants, agencies, handymen etc. in the Buffalo area. That’s what I did and would recommend learning that way

@John Hickey ever bought anything in Niagara Falls, NY? I’m closing a 60-property, 117 unit deal with everything from vacant lots to 6-unit buildings.

In NF, it seems like it goes block by block. A decent looking street could be RIGHT next to a street with HIGH drug traffic.

I drove the properties this weekend and noticed the dynamics of the neighborhood. I was ready to write off the war zone properties before I read this post.

What you’re saying makes sense and is inclusive of the existing community.

Best of luck. Thanks for the insight.

I’m looking for an attorney in Buffalo NY with experience doing assignment contracts.

I’ve reached out to several already that didn’t even know what wholesaling was!

Do I even need a lawyer for an assignment transaction?

Any insight on a suitable attorney or the pros and cons of using an attorney to wholesale is welcomed.

@Mohammed Afzal I’m an investor and property manager in Buffalo and the Buffalo marketplace is one of cash flow as opposed to appreciation.

There are deals with substantial rental income given the low financial barriers of entry.

Over the past couple years certain neighborhoods have popped and gained significant equity, but it’s difficult to build a strategy around that with all the cash flow deals readily available.

@Eric Winstanley Hey Eric. When is this? I don’t see an attend button. Thanks

@Eric Winstanley

@Chauncey Glenn

Hi Chauncey,

I think your plan is a great idea if you can pull it off. Let me know when you are ready to begin looking for properties in Buffalo. I invest here and work for the city so I’ve got a unique vantage point on the neighborhoods and properties available.

Good Luck!

Was driving for dollars when I saw this double with a bunch of newspapers outside in a decent Buffalo NY neighborhood. Sent the owner a letter and a church reach back out to me and said they had three other occupIed unIts along wIth the vacang doubke I spotted for sale. They were tired of managing real estate and just wanted to be a church again. I made a deal for all four properties (3 singles occupied at $700/ month and one vacant double that needs $30k of repairs) for 100k. Financed one through credit union. 30 yr for 50K. The rest bought cash by bringing in partners who brought cash to the closing table. In the end, I’m left with the occupied single brIngIng in $700 per month and the vacant double that I got for “free”. Financing cash to fund the rehab of the vacant double ($30k). ARV = $94k. But I can also sell the double now as is for $40k-45k and come out wIth 35k cash or so after closIng costs. $15k less after than after refinance but the tIme value of money comes I to play because I want to move to the next deal now. The market In Buffalo is softening. At this poInt, I am tryIng to secure as much as possible before the bust.

I get a good response rate from my marketing in Buffalo, NY. Some of the sellers really do offer good deals but their house is priced closer to market rate. If I had the capital id do the deals myself but I’m wondering if there is another way to monetize these propertIes. Has anyone dealt wIth this and foInd a reasonable solutIon? Thanks!