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All Forum Posts by: Jasper Son

Jasper Son has started 3 posts and replied 7 times.

Originally posted by @Carini Rochester:

https://www.warreninspect.com/

Warren Engineering is one of the largest inspection companies in town.

I've also heard of 
Comfort Living Home Inspections, Kevin White. p. 585-802-6386

I know someone with expertise in structural inspections and design if you ever need that specialty.

Thank you so much for reply. Definitely will add that to the list of companies I will check out. Thank you!

@Michael Fuchs 

That's a great question. I definitely understand what you mean. Although I am investing out of state, I also did not want to choose a market too far from where I was. Most likely a fear thing. I just thought Rochester was a good balance for me at least for potential for cash flow but not too far that I can visit if I wanted to. 

Hi,

My name is Jasper Son and I live in brooklyn, new york. Working to get my first investment deal in Rochester, NY and I'm looking for property management companies and reliable home inspectors in Rochester. I will be investing out of state and I was wondering if anyone had recommendations for any property management companies or home inspectors they were using. I would love any recommendations.

Currently, I'm looking to invest in the 14624, Chili area. 

Thank you.

Sincerely,

Jasper Son

Post: Recommendations for Property Management companies

Jasper SonPosted
  • Posts 7
  • Votes 0

Hi, 

My name is Jasper Son and I'm looking for property management companies in Rochester. I will be investing out of state and I was wondering if anyone had recommendations for any property management companies they were using. I would love any recommendations. 

Currently, I'm looking to invest in the 14624, Gates area. 

Thank you. 

Sincerely, 

Jasper Son

Post: Question on analysis

Jasper SonPosted
  • Posts 7
  • Votes 0
Originally posted by @Martin Grizzanti:

Hey I live and invest in Rochester--feel free to reach out.  We are having an investor meet up dec 22

Would love to discuss investing. Unfortunately, I'm all the in brooklyn, new york. Is there a zoom call I could join by any chance? Would also love to discuss more.  

Post: Question on analysis

Jasper SonPosted
  • Posts 7
  • Votes 0
Originally posted by @Maria Guevara:

@Jasper Son I invest in Rochester. It’s very rare to offer well below asking in a hot market like this where the homes go very quick and usually well over asking. The areas I pick are close to the University. Most of my tenants are grad students or young professionals. They pay on time, even a week in advance. Although N Winton, which is the area you picked, although not bad, would not be my first choice. Try looking in the 19th Ward, South Wedge, PLEX (but not all areas are good) .

Hi Maria, 

Thank you for your response. I totally understand and believe you when you say nobody offers below asking in Rochester's hot market. Just wasn't sure if I was doing my analysis correctly. Thank you for the advice on the areas. I'd love to discuss more about areas and your investing strategy in the near future. 

Post: Question on analysis

Jasper SonPosted
  • Posts 7
  • Votes 0

Hi, 

My name is Jasper Son and I live in brooklyn, new york. I am looking to invest in Rochester, NY and I would love some feedback on my current progress. 

Using Listsource I determined that the zip code area 14609, 14624, and 14612 had the most absentee owners within the past six months. To start out, I am analyzing these areas for property analysis. 

One of the properties that came up recently on Redfin was 740 Grand Ave, Rochester NY 14609. The place is a SFR 3 bed 1.5 bath, 1312 sqft, built in 1920. Using rentometer, I took the average rent, 1435, for my analysis. Using the BP rental calculator, I have determined that I had to offer 92,000 on a house that was listed for 135,000 for the property to cash flow $150 with a CoC return of 8.84%.

I assumed 9% for repair & CapEx, 5% Vacancy, 10% Property Management fees.

I let the tenants take care of the electric, gas, and lawn & snow care. Assumed 100$/month for Water & Sewer and 50 for garbage.

Does that sound right? 

Additional question: What bills are the landlords usually responsible especially for SFR in Rochester?

Would love the feedback. Thank you!