All Forum Posts by: Michael Lester

What did you pay for a 4plex out there? Was it turn key?
I'm selling a double in cheektowaga. I was surprised to see my comps were $110,000 - $130,000

lol.

I'm in Buffalo, NY at the moment. Buying and selling. Left California for a market I could better penetrate. 
I'm kind of disheartened to see nobody mention that the thick profit margins lay between what's mortgageable and what is not mortgageable. Problem with buying turn key is that you will be competing against purchasers with the banks money, driving prices way up. 40% of whom are putting less than 9% down, with little financial education. 
Contact me if you ever wanna talk. 
 

Selling a house on Richfield, 14216. I'm putting it under contract tonight. I'd like to do a 1031 exchange. Inbox me some information?

My attorney has always dealt with the escrow and title companies. What is it you do? Sounds interesting

What have you found?

Let me know what you find. I'm curious as well. I'm waiting for the buyers' market to roll back around n then we're gonna switch strategy to buy and holds. In that market I'd like to apply leverage.

Market's peeking. Properties on the west side are sitting on the market now where last summer they were selling right away. So I would advise not to pay retail. Look for below market value deals. If your a cash buyer you can find great deals because your not competing with people making poor decisions with the banks money. Go after property that isn't mortgageable. Less demand brings down price.

Grew up in Buffalo. Went to Buff State. Buffalo's a soft market. Good for entry level investing. I'm a lisenced agent if you want any help looking for your next duplex. 

What's bringing you to Buffalo?