All Forum Posts by: Tim Corey

Nope. Found a PM that did not work out and we sold the property!

We use "A Master's touch" cleaning services for our Airbnb in Rochester. Have been using them for a year and have never had an issue. https://www.facebook.com/AMTouch14572/

Quote from @Jon Joro:

Quote from @Tim Corey:

Quote from @Tracy M.:

Quote from @Tim Corey:

Hey Robert. Like Adam mentioned, it's not a good neighborhood. I am actually under contract for a three unit a bit further South-East from there, closer to the river. Our other rentals in completely different areas, we have a duplex in Penfield (east side suburb, our primary residence) and a duplex in the south wedge. Over 6 years, our south wedge property has appreciated 40%, rents have gone up 45% (granted, we put some work into the units), and we've had 1 month of vacancy. Tenants have all been either students or recent grads. 

It's going to be a completely different story with the triplex we are purchasing. We are expecting very little appreciation and more tenant issues (one tenant is currently not paying). It is the first property where we are going to use a property manager. It depends on what tenants you have in the property, but I personally would be hesitant to remote manage. 

It just depends what you are looking for though. I'm happy to chat if you have any questions about the area and market.

 Hi Tim,

I am new here and looking to close my first property in Rochester. Could I please PM you to pick your brain a bit more on investing in this area? Thank you!

 I'd be happy to, feel free to reach out.

 @Tim Corey hi Tim can i ask your opinion on the Upper Falls area? zip code 14605. i am in contract with a 6 unit there, it is currently occupied but a management company i briefly spoke to denied to manage the property due to the area. im on the fence wether i should go with it. 

 @Jon Joro For the most part, it's not a good area but there are worse areas in the city. It sort of depends were in the zip code as well. It seems like the neighborhoods immediately adjacent to the public market (good bars, restaurants, brewery, distiller,y and of course the market) are getting investor interest. That being said @Martin Grizzanti is extremely knowledgeable in the Rochester market and can provide more insight!

Feel free to message me if you need a property manager, our pm services the area. 

Quote from @Tracy M.:

Quote from @Tim Corey:

Hey Robert. Like Adam mentioned, it's not a good neighborhood. I am actually under contract for a three unit a bit further South-East from there, closer to the river. Our other rentals in completely different areas, we have a duplex in Penfield (east side suburb, our primary residence) and a duplex in the south wedge. Over 6 years, our south wedge property has appreciated 40%, rents have gone up 45% (granted, we put some work into the units), and we've had 1 month of vacancy. Tenants have all been either students or recent grads. 

It's going to be a completely different story with the triplex we are purchasing. We are expecting very little appreciation and more tenant issues (one tenant is currently not paying). It is the first property where we are going to use a property manager. It depends on what tenants you have in the property, but I personally would be hesitant to remote manage. 

It just depends what you are looking for though. I'm happy to chat if you have any questions about the area and market.

 Hi Tim,

I am new here and looking to close my first property in Rochester. Could I please PM you to pick your brain a bit more on investing in this area? Thank you!

 I'd be happy to, feel free to reach out.

Hey Robert. Like Adam mentioned, it's not a good neighborhood. I am actually under contract for a three unit a bit further South-East from there, closer to the river. Our other rentals in completely different areas, we have a duplex in Penfield (east side suburb, our primary residence) and a duplex in the south wedge. Over 6 years, our south wedge property has appreciated 40%, rents have gone up 45% (granted, we put some work into the units), and we've had 1 month of vacancy. Tenants have all been either students or recent grads. 

It's going to be a completely different story with the triplex we are purchasing. We are expecting very little appreciation and more tenant issues (one tenant is currently not paying). It is the first property where we are going to use a property manager. It depends on what tenants you have in the property, but I personally would be hesitant to remote manage. 

It just depends what you are looking for though. I'm happy to chat if you have any questions about the area and market.

Hey Robert, I invest in Rochester. Currently have 4 units and Uber contract for three more. What area were you looking in? like most cities, there's going to be a huge difference between neighborhoods and suburbs vs city properties. 

Hey Abhishek, I'd be happy to chat, send me a private message if you want to set something up. I don't have any experience doing full flips, not have used a handful of different contractors. There's an investing meetup happening in a couple of weeks too, great place to network. 

Hi All, we are under contract for our 3rd investment property (a triplex). I've been self managing up until now, but feel I will need a property manager at this point. Does anyone have recommendations for a good property manager servicing Rochester, ny? specifically the north West quadrant of the city. Thanks in advance!

@Abhishek Ganta

Just as an FYI (because I made this mistake when I first joined), there are two "Rochesters", one in New York (The better one of course...no bias), and one in Minnesota. I have one duplex in the South Wedge, and another in Penfield. They were both fixer-uppers, but I have never flipped a property. Just curious, which lender are you working with? We are looking to do our first BRRRR deal next.

@Carter Mezzio Our first property was in the South Wedge, it's worked out great so far! My wife and I lived in the area for 5 years, it's my favorite area in Rochester. Availability is pretty low there though, it seems like (for on market at least) Beechwood and Maplewood have more. I think your ability to purchase another house in a year or two is 90% dependent on factors outside of your first purchase. Income, current savings, etc. What type of mortgage are you looking to get for the first property?