All Forum Posts by: Sam Schrimsher

This sort of policy ranks up there with protesting amazon bringing massive job opportunities to NYC. I’m sure these type of rent control laws can’t be good for investors. Seems like they are designed to enable bad behavior by certain types of tenants. 

Having said that, i’m not sure i agree with the position that this will push prices down. I’m not aware of any other cities where prices declined following rent control laws. I think the primary factor is demand. If i’m not mistaken, home values are generally highest in areas that have rent control. Granted, there are a lot of markets i’m not familiar with, can anybody cite an example where a decline in values followed after implementation of rent control laws?

Also, what about the concern that these laws would result in less investment $ going into the maintenance and improvement of properties? That seems more plausible to me but curious if there’s any real world examples to support that theory?

@Aqil Dharamsey

That's great Aqil. Thank you very much for the warm welcome and the offer to reach out, really appreciate it!

@Michael Twentyfive Thank you for the welcome Michael, and I agree that it is :)

@Shane W. Chapin

Thank you Shane. Must be exciting digging into your first project. I look forward to doing the same. Thank you very much for the invitation to reach out with questions, I really appreciate it.

@Matthew Drouin

I agree, I was fortunate enough to attend that this morning, and I met several nice people who I found very helpful. Apologies if I neglected to introduce myself to you, hope to catch you on the next one.

@Martin Grizzanti

Thanks again for letting me know about it. I was there this morning. I think I somehow got you mixed up with Brett. Sorry we didn't get a chance to meet, hope to meet you at the next one!

 Roger that, thanks for the clarification. I'll try and make it.

 That's great Tim. Sounds like you and are at the same place right now. Best of luck to you, I'm open to networking with you.

 Hey that's great to know Martin. I'm going to plan on attending tomorrow night. 

Right now I'm looking for a 2/1 or a 3/2 in the South Wedge. I'd also consider something in Swillburg or the surrounding nicer suburbs (Brighton, Fairport, Penfield). I'm fine with a fixer as long as there are not significant structural issues. I'm basically looking for a bargain type deal in a good area, budget is around 100k including any needed repairs. I don't need financing. Feel free to message me if this is something you could help me out with or we can chat at the meeting tomorrow :)

Thank you for the welcome and encouragement George Blower, Andrew Syrios and Jill Dewit! One thing I've noticed and appreciated about BP is that it is a very positive community!

Awesome Justin, thank you very much for those tips!

That's cool. They still have Tops here :)

We really like it overall. We are new to the area so take what I say with a grain of salt. From what I can ascertain, many areas in Northern part of the city it's self has high crime. Everything outside of that seems to be very low crime, and very nice. Nice people, very down to earth. It's a good area for families, lots to do, even in Winter. Good rental market here as there are many great higher education institutions and also, the area is heavily weighted towards medicine, and there are a lot of people employed in that field out here as well.

I guess it's going to depend a lot on the area. In the rough area, there are tons of duplexes, and they're dirt cheap, well under 100k for sure. Outside of that I couldn't really say for certain, I've looked at just a few of those, and what I saw in the nice areas was about 150k for a duplex, and maybe double that for a 4-plex in a very nice area.