All Forum Posts by: Jeffrey Tonkin

I have 30 tenants in Oswego. Happy to share some local resources -- Call the police department about a wellness check. It would be considered an emergency to enter the unit if no utilities are on so you can prevent freezing and property damage -- always refer to an attorney for advice.

I'll ask a few folks that I know with places in Fair Haven/Sterling.

Nicholas,

I can only speak about the Oswego, NY market. I’m both an investor/landlord in this market as well as an agent. 

Student housing gives the best opportunity for cashflow in this market. There is a “changing of the guard” currently happening with older landlords selling individual properties and small groups. I’m working with 3 landlords that own nearly 70 properties in Oswego combined, and each are stepping towards retirement. I’ve sold 15 in the past 4 months...

As for the remaining residential income properties (families & individuals,) this market is still strong. The cash flow per unit is less, but the prices are still fairly cheap. Yes, there will be a larger chance to have a legacy tenant who has not paid due to covid.

Pros - strong SUNY campus with several off campus students, CAP rates of 8%-18% (depending on deferred maintenance and specific characteristics.)

Cons - typically older homes, students create more work with annual turns and more damage typically, lack of quality management in this area (very few quality managers.)

Hey Austin! I own several properties in Oswego County (Commercial - 6 tenants, Residential - 9 tenants, Student - 1 high-end unit and Storage Units - 53 units.) 100% Occupied! Happy to connect and talk! 

I'm currently adding a new property to my portfolio and am planning a big expansion by the end of 2021...  I'm always looking for folks who have similar interests!

Yes, I'm also a top producing CENTURY 21 Agent - feel free to read my profile!