All Forum Posts by: Shawn Pappas

@Andrew C. I think investors are going to start looking into east side of Buffalo soon. Numbers don't make sense in areas like Amherst, Hertel Ave  and Elmwood. 

@George T. I use Randy Randazzo for my investment properties. I included link below which includes his contact info.

http://www.mjpeterson.com/view_agent.asp?AGENTID=1...

I'm looking to find some deals at In Rem Tax Foreclosure auction. Has anyone in Buffalo, NY ever attended or found deals at these auctions. I am hoping to pick up a few buy and hold deals and maybe a flip. Any experience and advice would be greatly appreciated!

@Jenna Wald exciting to hear you are closing on property in Buffalo area! Are you going to continue to invest here? What neighborhood is property?

@Donnell Jackson great to hear! PM me if you have any questions about certain areas. 

@Emil Hovgaard some of better neighborhoods are North Buffalo/Hertel Parkside area and then also Elmwood village. I wouldn't recommend east side or west side if you are not familiar with area. Message me if you need help looking into some properties. 

@Emil Hovgaard I think Buffalo is full of good deals. Depends on what you are trying to do... buy and hold, rehab? What class neighborhood are you looking at? City of Buffalo changes fast by only a street or two. I just bought house last year in class C neighborhood near Canisus College for 45k. It's a 2 family and rents are $550 and $485. Taxes are super cheap as well in Buffalo. I pay $800/yr. Tenants are also long term tenants. Being you don't live in Buffalo, be thorough with your due diligence on property(mostly in regards to property inspection).

@Andrew Graziano What neighborhood in Buffalo is this property? I purchased in Hamlin Park last year for 45k and get $1035/mo. House is 6 bed, 2 bath, 2 unit, 2800 sq. ft. and new roof. Was already rented with long term tenants. I would be patient and keep looking.  I personally wouldn't do this deal. Keep looking. I think multi families are the way to go.

@Kassie Carrell Yes I see now!  Good decision! 

@Kassie Carrell If you are committed to doing Financial Peace and Dave Ramsey's principles then the only way it will work for you is if you follow it completely. He is definitely a no debt..EVER.. guy! That means sell rental property and begin a debt free life. The only problem is that it will be hard to begin investing in properties all cash, especially as a single mom. Possible, but difficult. I like some of his principles, but I am also okay with some debt if it is cash flowing and paying down mortgage which is what your rental property is doing. I think you can be wise and pay down debt while still keeping property. Use what you are cash flowing and anything extra from other income to pay down credit card debt. Try to keep it simple as you learn.