All Forum Posts by: Maria Guevara

Hi Tracy!  Did you close on your property ? You can send me a DM. 

https://www.realtor.com/news/t...

 Sure.  Rochester, NY is a very hot market, there are very few homes for sale.  Come this summer, we will have a lot of students needing housing.  It would be good to purchase multifamily properties but even with our single family homes we still make money because our rents are high. 

Hi Roberto! I bought a triplex and duplex in Sept 2020. They're fully renovated and rented to U of R and RIT college students and grad students. They're located in PLEX. In 2021, they have appreciated 16%. Cash flow is great, much better than cash flow at my condo in Baltimore. Since then we have purchased 3 single family homes in the 19th ward, Strong Neighborhood and Ellwanger Barry, all close to the U of R, Strong Memorial Hospital and Highland Hospital. We are in contract for another SFH in the Strong area. I self manage. I have contractors and home warranty for each of the 8 doors. I factor in 5% vacancy, 5 % cap ex, and maybe $1600 lawncare and maintenance for all 4 properties. I made one of the homes in Rochester our second home, and our first airbnb. So far so good. I love Rochester, and I have helped three mentees purchase there too. Bidding wars are crazy. People paying 30-100k over asking. Analyze well so you don't get burned.

I used Warren Engineering as well for our duplex, triplex and single family homes in Rochester.  Rochester is a great market even with high taxes.   It would all depend on which area you pick.  The closer to the university of Rochester and RIT the better in terms of rents.  Always full.  Never a vacancy.  

I have an Airbnb in Rochester.   I’m having fun running it.  There are more airbnbs in Rochester than in other parts of Western NY but I would say the income is higher than my LTRs. 

Upstate NY is a good place to look.  They’re inexpensive and rent-to-value is high.  I have several in Rochester.  I love that market.  

Congrats, Michael!  I invest in Rochester too!  I have switched lenders but early on not midway.  Everything’s good.  Will do refi now.  Which area did you buy?