Cash invested: $200,000 This magnificent Building was built in 1909 and served as a public school until the mid 60s.

Cash invested: $200,000 This magnificent Building was built in 1909 and served as a public school until the mid 60s.

Thank you again, and you are so right, it takes longer to build a portfolio when buying cash, but it has magnificent benefits when you buy houses outright. 

Thank you both for you swift responses!

Appreciate swift response.

One way for you to mitigate substantial loss is to set aside some money aside every month so that in an event you need to repair something you are able to do that swiftly. 

However, on the flip side, Albany seems to be insulated from swift market changes so, in my opinion, there is lower risk of values declining, especially compared to other Upstate NY markets.

I had a person randomly contact me and ask to buy a property I own.I agreed on a low price because he promised a swift and easy transaction.After going under contract, it’s turned into a 6 month+ saga, with the buyer trying to pull out every trick he can to drive the price down.His approach has mostly revolved around trying to find some problem with the property to knock of 50% of the value.I have held my stead and not given into any of his manoeuvres.It also became apparent early on that the buyer and his attorney are two peas in a pod.

Swift!

I appreciate all the great advice and the swift responses, definitely gave me more clarity