All Forum Posts by: Jesse Wixson

I would like to introduce myself to the conversation. I live in an area that has a vacancy rate of 0.8%, our homes have increased in value 40% over the past ten years, We have been voted numerous times top city to live in NY. The best part is that we are only 4hrs from the city. Its not a bad drive as I'm in NYC once a month. We are supported by two major educational institutions and our city is comprised of 65% renters. 

I would like to invite @Daniel Singh, @John Hickey

to look at the Ithaca NY market. I am a local Investor as well as an agent so I have several connections with local professionals. 

I hope you all have a great day. 

@Victor Omoniyi,

I was curious how things are going for you here in Ithaca. I'm a local investor and RE Agent in Ithaca. I run the local ithaca RE investment Meetup Group as well as pay it forward as much as possible. 

If you're still in the area I was curious if you wanted to meet up and share some RE stories. 

Jesse

@Philip Tretola,

I live in Ithaca and we are different (in more ways than one). We have a vacancy rate of 0.8% and our home values have increased 40% in the past 10 years, both of those numbers are actually almost unheard of. 

I'm not sure if you have moved forward in your adventure in RE yet but I just thought I would reach out.  

Ithaca is a great place to invest. We have a vacancy rate of 0.8% and our average home value has increased 40% in ten years. We are an outlayer when it comes to housing statistics. We are supported by two major educational institutions. 

If you have any questions about potentially investing in our market, let me know. 

Jesse

@Kristen Cabildo

I was curious how things are going in Ithaca with your adventure? I live here as well and and like to talk to like minded individuals. I'm curious what you and your husband are up to?

http://www.meetup.com/Ithaca-Real-Estate-Investmen...

If you want to talk more on the phone you're more than welcome to call. 

There are little pockets in the city that I could show you, if you wanted? 

@Tim Burke 

Welcome to the Area. I live in Ithaca and hold income property in Cortland and Groton while working at acquiring more in Ithaca. These markets Cortland, Groton, Dryden, Ithaca are very different in rents, demographics, and many other things. You will find that some of the places in Ithaca rival property prices in Manhattan on a price per sq foot basis. If you go just a few blocks the prices are different so you should work with someone that knows the area. 

I also run the local RE MeetUp group in Ithaca and I'm a licensed RE agent in the area. I only deal with individuals who are either having issues paying their mortgage or investors. Our vacancy rate in the city of ithaca is 0.8% (That's a crazy number), our town is less than 4% and the city is composed of 65% rentals. The other number that you should be aware of is that our average home values have shot up 40% over the past 10 years. That's even with the crash figured in. 

Ithaca is an Outlayer statistically, there are many factors that influence this. The first and major are the schools (Cornell and IC) as they are major employers as well as accept many students. 

I belong to a network of 10,000 investors nationwide. The reason that I tell you this is because this weekend I am going to be in NYC at the regional office giving a presentation and won't be available until monday. 

Let me know if I can help with any place that you may want to relax, eat, and explore in town. 

Jesse

The reason that I ask is because the area that I live in has a vacancy of 0.8% with the average home value going up 40% in the last ten years with our county being just less than 4% vacancy. Yes, that is including the time period of the bubble. We actually never had a bubble and well supported by two major education institutions. But yes I would normally say to look at appreciation as a gamble. 

Looking for input from all and a good discussion. 

What do you think is a better strategy/ situation; little cash flow but great appreciation or great cash flow with little appreciation? 

Connor,

Welcome to BP. I live in Ithaca and run a meetup group called "Ithaca Real Estate Investment Education". Even though I live down here I operate from Syr down to Elmira.

What are you looking at getting out of RE investing? Do you have any idea on what specialty you want to get into? 

I'm coming up to Syr in a few weeks to give a presentation on Financial Strategies. I host monthly seminars and training events down here in Ithaca NY. I have found that there is so much more than  just being a property manager in the world of investments. 

Welcome again to BP