All Forum Posts by: Tiffany Campbell

I have been hearing good tings about Buffalo from two ladies visiting NYC. Of course I picked their brains on rental properties. They suggested Allentown and Black Rock. I wasn't sure how much stock to put into their suggestion because they were not investors, but they were longtime residents.

 I took the plunge and recently purchased a single family home in York, PA. I purchased all cash in the area code 17404. The asking price was $45,000 and I purchased for $42,000. Taxes are $2600 and there was a long term tenant in place on section 8 for $875 per month. Since I have no mortgage and the tenant pays all utilities the coc return is pretty good. The house won't appreciate much but if someone is willing to pay me to live there it's a good investment I think. You have to run your numbers if you are going to have a mortgage. 

I recently purchased a single family home with a Section 8 tenant in place. Immediately after closing the tenant's income was re-evaluated and deemed ineligible for the benefits. We were told the tenant is now responsible for the entire portion of the rent.  The tenant was caught off guard as well because it was so abrupt, and we have not seen a dime yet in rent. Section 8 was a huge selling point and it fell through immediately. Damn shame. 

@Ron Martin How did you find out the residents were section 8?

none of those landlords will recoup a dime.

also the L train will be out of commission for at least a year possibly around 2018 so hopefully that's not the only train line near his investment. 

@James Northrup correct. They don't go past Broadway junction. Just letting him know how deep they go and it's nowhere near east New York. 

I live in Bushwick which is also over. The worst house in the neighborhood is $800k. My family owns property there for the past 20 to 50 years. They could not have planned this. They bought when Bushwick was crumbling and even before white flight. If you want to get into east New York I believe property value will always go up. It's New York after all. There are some new construction buildings around too. 

Brooklyn is over unless you have a partner. East New York straight crack town because of all the project buildings. All the "hipsters" get off the L and J  train just before Broadway junction. I would only invest but not live there myself. 

@Lisa Phillips preach!