All Forum Posts by: Michael Jacobson

Hi BP Community,

We are looking to purchase a multi-family home preferably around one of the college campuses in Buffalo within the next 6 months. The property we are open to different property conditions, whether it is turn-key with renters, vacant in need of repairs, minor cosmetic damage or short sales. Ideally we will in total put down $40k capital to either buy out right or in addition to a mortgage. Our goal is to purchase 4 properties with this criteria over the next year and continue to grow.

- Could anyone share their thoughts on any neighborhoods that may be of interest to us?

We are also searching for contractors, property managers, and knowledgeable real estate agents that are familiar with Buffalo rentals/buy and hold situations.

- If you meet this criteria or know someone you could refer I would greatly appreciate it.

Hi everyone;

As someone who is a new investor, I would like to seek out advice for the best areas that provide cash-flow. Any part of the United States works as long as it can provide a good correlation between money spent and rent received. I have used the internet to search for the best cash-flow markets, but unfortunately it is very opinionated and bias depending on what site you visit. I am basically asking for any comments that you all can provide to create a better understanding of the current market and the best areas for investment. I am currently looking at properties that range from $100,000 - $170,000 and within an A/B neighborhood. Thank you all for your help.

Hi Sam I would say my risk level isn't so high just because I would be investing from out of state I know there are properties that you can find for cheap and get a great return on investment but for more purposes I would rather stay conservitive for my first property and stay in an A/B neighborhood I'm looking to purchase something between 100-150 K preferablely with a mortgage so I can leverage properties in the future. I'm extremely motivated and can make a move as soon as tomorrow but I need to make sure everything makes sense the numbers, neighborhood etc... 

Thanks for the quickness response Nate. The reason why I'm for condos is because the HOA covers most of the maintenance even if the cap rate is a little lower it would be less hassle for me. This would be my first investment so I am a little more conservitive. I was planning on self managing as well. I'm currently 24 and I would want to hold this property for a while. Coming from out of state do you feel that's a smart choice?/ are the areas a listed above desirable areas for rent and do they rent quick?

Mario I'm in the same boat as you I'm also 24 and have the cash but I'm looking to invest out of state 

Hello everyone, 

I'm looking to invest in a condo in one of these areas and wanted to get opinions on weather or not it makes sense. I'm looking to hold this condo for a long period of time probably closer to 10-15 years. I see that the prices now range from 120-140 K and taxes are around $1,600. A realtor told me I could rent it out between $1,000-1,200 a month. I've done the numbers and the mortgage payment would come out to around $800 per month which includes HO insurance and common charges. What is everyones opinion on this for a long term investment?

Thank you Andrew! Unfortunately I don't speak Spanish.

Stephen i'm looking for a single/multi family home or a condo that I can hold for many years. Since i'm coming from out of state I would rather be in a class A/B neighborhood so theres less hassle. I am looking closer to a 10% cap rate. Also I know that insurance in FL can be a killer. What kind of properties do you have?