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All Forum Posts by: Pravit Jarriyapurttipong

Pravit Jarriyapurttipong has started 1 posts and replied 7 times.

Out of State Investing

Post: Buffalo New York Mutifamily

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0

Hello,

I live in Queens New York but I want to invest in Buffalo New York.

Which town should be easier to manage? In the beginning I want to manage by myself to save cost. If there is any issue I call plumber handyman. I heard North Tonawanda is good place. Also area close to University of Buffalo. I'm not sure which campus. If you know please let me know. If you have other area I should check out please let me know. I will have to buy turn key since I'm starting out. I guess it's better to buy multifamily?

Any advise would be great.

0 Votes
Real Estate Deal Analysis & Advice

Post: First deal. Bought with equity off the start :) Elmira ny

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0

Thank you so much Amos, for your kind knowledgeable information. If I happened to buy will contact you for inspection.

0 Votes
Real Estate Deal Analysis & Advice

Post: First deal. Bought with equity off the start :) Elmira ny

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0

Would below property good?

https://www.zillow.com/homedet...

0 Votes
Real Estate Deal Analysis & Advice

Post: First deal. Bought with equity off the start :) Elmira ny

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0
Quote from @Daniel Whiddon:

Be careful buying in Elmira. As with all cities, there are good locations and bad, good tenants and bad ones, and good houses and bad houses. Keep an eye out for foundation, structure and roof damage in this area. Get your tenants screened through something like apartments.com, and do the repairs before they become an issue. Use the equity maybe to find some repairs. 

I have 5 in the area that are going great. Also, join the entrepreneur and small business owners of NY Facebook group. We are having a meetup in the Elmira area soon and I'd love to tag up. Good luck! 


 Thanks so much for your reply. I can check the condition of the house by using inspector, right? Would area around LECOM good? Where is the good area?

What do you mean "Use the equity maybe to find some repairs."

I will join your group now.

Thanks

0 Votes
New Member Introductions

Post: 21 Years Old w/ 25k Saved And Good Credit

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0
Quote from @Amos Mainville:

Having friends and family in LA... that nest egg isnt likely to touch much. You are going to be likely looking at long distance options.

Last year i bought 3 duplexes that averaged about 18k each down payment in Elmira NY. Each will return 6-800 a month net. Its a great market but I have seen many distance investors burned here as well. As a licensed home inspector I evaluated 35 properties to buy those 3. I had strict criteria for properties that were close to turn key from a mechanical/structural perspective. Paint and general updating was acceptable.

Don't get discouraged. There are some great markets you can work in but it will be at a distance. 

Hi Amos,

May I ask why many long distance investors got burned in Elmira? 
I'm from Queens, New York. Thinking about buying a rental property that already have tenant. 

Would the property below is a good fit what can go wrong? I might have you inspect this house if I decide to buy it.

https://www.zillow.com/homedet...

0 Votes
Managing Your Property

Post: Property Management - Elmira, NY

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0

How is rental business in Elmira? I see so many houses are low price with very cap rate. I just wonder why don't renter just buy it.

For example this house 39k fully rented for 1050/month if renter buy with FHA down 3.5% payment is only 1400 and mortgage is only $158/month. Why don't they buy?

What do I have to be careful when I buy rental property there?

https://www.zillow.com/homedet...

0 Votes
Real Estate Deal Analysis & Advice

Post: First deal. Bought with equity off the start :) Elmira ny

Pravit Jarriyapurttipong
Pro Member
Posted
  • Posts 7
  • Votes 0

HI Amos,

How is rental business in Elmira? I see so many houses are low price with very cap rate. I just wonder why don't renter just buy it.

For example this house 39k fully rented for 1050/month if renter buy with FHA down payment is only 1400 and mortgage is only $158/month. Why don't they buy?

What do I have to be careful when I buy rental property there?

0 Votes