Investing in Multi Family Properties in Binghamton

Member since 2018 · 9 posts · 4 votes

Im looking to start investing in Multi Family Properties in Binghamton, and Im seeing some properties with great numbers.

Any current investors have found success in Binghamton?

Anyone know any knowledgeable real estate agents in Binghamton that are familiar with multifamily investing? I'm mostly looking for cash flowing turn-key properties

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Stephanie JacobsonBusiness Member

Real Estate Agent · Ithaca, NY · Member since 2016 · 429 posts · 324 votes

Quote from @Bernard Bertrand:

Im looking to start investing in Multi Family Properties in Binghamton, and Im seeing some properties with great numbers.

Any current investors have found success in Binghamton?

Anyone know any knowledgeable real estate agents in Binghamton that are familiar with multifamily investing? I'm mostly looking for cash flowing turn-key properties

Welcome! I have a bunch of clients doing really well in Bing. The market is a bit strange at the moment- recent zoning shakeups and low inventory- but investors are navigating it, remaining patient and jumping on good deals. There’s a lot to say about the area, do you have any specific questions?

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Stephanie JacobsonBusiness Member
Real Estate Agent · Ithaca, NY · Member since 2016 · 429 posts · 324 votes
3y
Quote from @Bernard Bertrand:

Im looking to start investing in Multi Family Properties in Binghamton, and Im seeing some properties with great numbers.
Any current investors have found success in Binghamton?
Anyone know any knowledgeable real estate agents in Binghamton that are familiar with multifamily investing? I'm mostly looking for cash flowing turn-key properties
Welcome! I have a bunch of clients doing really well in Bing. The market is a bit strange at the moment- recent zoning shakeups and low inventory- but investors are navigating it, remaining patient and jumping on good deals. There’s a lot to say about the area, do you have any specific questions?
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Bernard Bertrand:

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Bernard Bertrand
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Member since 2018 · 9 posts · 4 votes
3y
Quote from @Stephanie Jacobson:

Quote from @Bernard Bertrand:

Im looking to start investing in Multi Family Properties in Binghamton, and Im seeing some properties with great numbers.
Any current investors have found success in Binghamton?
Anyone know any knowledgeable real estate agents in Binghamton that are familiar with multifamily investing? I'm mostly looking for cash flowing turn-key properties
Welcome! I have a bunch of clients doing really well in Bing. The market is a bit strange at the moment- recent zoning shakeups and low inventory- but investors are navigating it, remaining patient and jumping on good deals. There’s a lot to say about the area, do you have any specific questions?
I see that majority of the multi family houses that have great numbers are pretty cheap and are built in the early to mid 1900s.

In your experience do these older houses lead to alot of maintenance down the road?

What are good neighborhoods to invest in?

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Stephanie JacobsonBusiness Member
Real Estate Agent · Ithaca, NY · Member since 2016 · 429 posts · 324 votes
3y
Quote from @Bernard Bertrand:

Quote from @Stephanie Jacobson:

Quote from @Bernard Bertrand:

Im looking to start investing in Multi Family Properties in Binghamton, and Im seeing some properties with great numbers.
Any current investors have found success in Binghamton?
Anyone know any knowledgeable real estate agents in Binghamton that are familiar with multifamily investing? I'm mostly looking for cash flowing turn-key properties
Welcome! I have a bunch of clients doing really well in Bing. The market is a bit strange at the moment- recent zoning shakeups and low inventory- but investors are navigating it, remaining patient and jumping on good deals. There’s a lot to say about the area, do you have any specific questions?
I see that majority of the multi family houses that have great numbers are pretty cheap and are built in the early to mid 1900s.

In your experience do these older houses lead to alot of maintenance down the road?

What are good neighborhoods to invest in?

Properties tend to be pretty cheap, until you begin dealing with student rentals. Students pay by the bed, so the rent is a lot higher. They only live in very specific areas, so that’s one thing to be aware of.

Otherwise, there’s a lack of young professional/graduate student housing. They’re more flexible about where they’ll live, but but there are some new zoning restrictions depending on how many tenants will be in the unit.

As far as repair costs, that varies enormously by the house. Some look beautiful, only to have the inspection turn up catastrophic issues. Others have seen better days but have solid structures and systems. So it goes with old houses.

If you go through BP’s agent referral system in Bing you’ll get me, haha! Feel free to reach out by DM and let me know how I can help.

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John Oliver
Real Estate Agent · Binghamton NY · Member since 2021 · 7 posts · 3 votes
3y
There is a lot of opportunity to Invest in Binghamton and get good cashflow. I bought a duplex on the southside last may and have had lots of success with it so far. There are turnkey properties available but many will need a little bit of work because the properties around here are old. The key to investing in Binghamton is knowing exactly what you want. I'd love to help you out if you had any more questions about investing in Binghamton!
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