All Forum Posts by: Josh Robbins

Hi Alejandra,

I've just started investing in the Rochester area as well.  Yes, there are very low prices and yes the numbers can look good on paper.  I'm not sure if you're local but in Rochester location really does matter.  It can be street by street and block by block there.  Also you can find homes that are cheap but they're cheap for a reason.  lots of older homes that have had very little maintenance done over the last few decades and that needs to be factored in to your numbers.  Feel free to reach out to me if you have some properties you'd like to discuss.  Happy to help.

Hi Daniel,

First, welcome to the world of RE investing.  I invest in upstate NY and after a few years out of the game i'm getting back into it in Rochester.  I'll admit, investing in Rochester is strictly about cash flow and equity build up for me. I do not count on appreciation nor do I expect it.  I am a long term buy and hold investor and while i'm sure over 20+ years the properties will increase in value, I don't build that in to any calculation.  Rochester is like most cities that it all comes down to location.  A class areas have appreciated tremendously and don't cash flow as well while there are still plenty of cash flow opportunities in B and C class areas.  And like other cities, Rochester has crime.  You can turn a corner and be on a "bad" street and that is something you need to be aware of.  I don't imagine Cleveland is much different.  Most importantly, as an out of state investor you'll need a team in place that you can trust and people that understand the area.  Good luck!

Sorry to be more specific, both around 19th ward

Thanks for the reply. They are in Rochester. I’d take a ballpark quote. Just something to help with the offer.

I’m working on two opportunities to purchase a duplex in the Rochester, NY area but they need some significant work. I’m looking for a GC that could give us a quote on the work and should we get the deal, do the work. Any recommendations would be appreciated or if you’re a GC and interested please reach out. 

Thanks

@Austin Shuster Where in "upstate" NY are you looking and what are you looking for? Are you looking to rehab and hold, flip, find something that will cash flow immediately? SFR, multi-fam, apartment building? I think if you have a clear understanding of what you're looking for there will be different paths that are best suited to finding deals.

Hi @Brett Pirie, I could probably nitpick your numbers here a bit but the biggest thing missing here on a place in Troy is the location. Where is this property and have you lived in Troy before?  That will probably influence any feedback I give on your deal more than anything. 

hi @Dafina Sharpe, I'm working on finding one right now too in the area. I'll let you know if anything comes up. Do you currently have a property you're looking to do work on or just looking for quotes?

@Kevin Wong yes I've been focused predominantly in Troy. Some good areas and many bad and it can be street to street.  Get to know the area you choose and it will make finding a deal a lot easier. 

Hey @Kevin Wong, my advice would be to not worry so much about the capital at this point and think about what it is you want to do.  Once you have that, find people who have what you need and offer them something for it.  In other words, partner with someone.  maybe they have the money and the know-how and you have the deal.  sure you might not make a killing on your first deal that way but think of it as an investment in your education.  

Personally i'm looking for buy and hold opportunities but i work a full time job and know i couldn't do it on my own.  I found a partner (happens to be my father in law) that can be my boots on the ground while i do a lot of the back office stuff and deal finding that is not his strong suit.  We each bring something to the table and we're closing on our first two deals in Troy, NY this month.

Keep talking to people and keep learning but don't be afraid to get started and take action.  it's the only way you'll truly know.  Good Luck