To plan investment and future rental goals in Albany, research market trends, explore financing options, understand landlord-tenant laws, manage property early, budget for maintenance, and connect with local investors.

@Jacques CaspiTo succeed in real estate investing, I’ve found it’s crucial to budget for unexpected expenses, focus on thorough tenant screening, and build strong relationships with contractors.

Eliminate debt, establish a budget, and save.

It’s a mix of strategy, management, and a little bit of chaos, especially when dealing with unruly tenants or trying to balance your budget while upgrading properties.

Set a clear budget, research properties carefully, and keep growth potential in mind as you plan.Good luck!

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

If the taxes are killing your cash flow, you'll need to either negotiate a lower purchase price to offset the tax burden or budget for some property improvements that could increase rental income and help balance things out.

At property value of $800k (my budget), the transfer tax will be $8400 alone.

Speaking of loans... how much $$$ do you have liquid, what's your budget, and what neighborhoods do you want to buy in?

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.