All Forum Posts by: Gabriel Abud

@Charlotte Bryan You have to be careful in the 19th ward even.  I wouldn't buy anything east of Genesee St, I know people who own there and it's been rough for them.  Western and southern part of the 19th seems reliable.  People are spending insane prices to buy in the 19th ward right now though, my guess is that it's out of state investors who are priced out of their own cities and don't understand why Rochester is priced so low.  Irondequoit and Culver I think are pretty solid areas.

@Richelle Bryan What areas are you looking in?  From my own experience and other out of town investors I have spoken with I would say don't get fooled by cap rates on paper.  There are a few areas that are real war zones and even the surrounding areas are pretty bad.  If you are looking in the inner city and outside of really nice areas (near the university and downtown basically), I would say double what seems reasonable for repairs and management fees.  It's pretty common to spend thousands on turnovers and have one or two of those a year, not to mention evictions, constant late rent, deferred maintenance, etc.

@Ronald Starusnak currently only two, although a third is under contract.

Hi all,

Just wondering what everyone's experiences were with property management companies in Rochester?  Any recommendations?  I am having trouble with my current company and the quality of tenants that they're placing.

Any suggestions?  Thanks!

Hmm, what about a 30 year fixed loan for a duplex under $50,000?  It can be 25% down, as long as it's a 30 year fixed.

Anyone have any luck finding a lender that offers 80% LTV and at least 20 year terms for loans (variable is okay) for investment multi-family properties? My bank just switched their rates from 20 years to 15 years for loans under $50,000 and so I need to look elsewhere, as that is a pretty drastic change. I'm in Rochester, and not against online or non-local banks.

Hi all,

I'm looking to get started investing in multi-families with great cash-flow in the Cincinnati area.  I've heard good things about Cincinnati and it seems like a city with good potential for growth.  I grew up in NE Ohio and have some family in Cincinnati/Indiana, so it's also about convenience.

Does anyone have any advice on investing in multi-families in the area, and/or referrals to agents/property managers?  I'm going to be passing through in June and would like to be able to set up some connections and get the ball rolling.  Particularly interested in high cash flowing multi-families within the city, in the $40-100k range.  Section 8 is a plus.  Any advice would be great!

Hi all,

I'm a new investor looking to buy in the Rochester area, where I have family.  I'm from out of state but will be in Rochester for the week.  Any local investors interested in talking about their strategies or advice over coffee / a beer?  I'm mainly looking at turnkey multi-family properties in the city limits.