All Forum Posts by: Michael Fuchs

All, 

Basic question but how are you all getting a good idea what rents are in a market, specifically out of state markets. Are you using apps or websites, talking to realtors etc.

Thanks!

All,

My wife is Active Duty in the Navy and just got stationed in Norfolk VA. I will be living in upstate NY and looking to invest in a small multi family for her to house hack in. We will be using the VA loan to purchase this house. Since this will be my first investment out of state and ill be unable to manage it like I manage my current rental since my wife will be on her own. I am currently looking to start a relationship with a local real estate agent which I think will be invaluable in obtaining information on the local market.

I suppose the only facet I will have to figure out is a property management company. How do I go about finding a good and reputable property management company. I am nervous going through with this process because I am a very hands on with my current rental and keep it to a high standard.

I am open to any and all helpful hints. 

Thank you in advance!

I'm curious if you are out of state why you are investing in upstate NY. NY has some of the worst laws for any business but especially real estate. If you're going to be investing out of state Id choose a safer market. 

Yeah I live and invest in upstate NY, Its insane they have yet to realize all their far left ideologies are horrible for the economy and quality of life. People are fleeing NY in record numbers. If I didn't have a job that requires me to do 20 years to get a pension id be long gone and investing in more red states. 

Id try and find a hard money lender, rehab it, then refinance it.

I'm investing in Rochester NY and the surrounding suburbs, and there are definitely deals here that can cashflow at 100k or less. 

Thank you for the new resource to use!

Im looking to buy in a new market, (Avon, NY) about 30 minutes south of me. My question is, I'm trying to research what average renting in the area is but I'm unbale to find anything to rent since it is a smaller town, so I'm unable to get an comps. Any ideas or suggestions? 

Thanks!

I'm in the suburbs on the east side, Irondequoit, Penfield, Webster etc.

Awesome, thank you for the information!