Real Estate Agent · Ozone Park, NY · Member since 2014 · 38 posts · 8 votes
I am a newbie. I wanted to buy a multifamily house in Albany NY.I just need an advice where is the good area to invest in Albany? I saw so many multifamily for sale under $100 thousand in 12209, but not sure if it is a good catch. Rental is around $650 minimum.
Rental Property Investor · New York, NY · Member since 2013 · 136 posts · 101 votes
12y
@Mary june Martillo I own properties in the vicinity and I agree with Shane about the different neighborhoods. In 12209 you want to be on Delaware Ave or preferably west of it. 12208 is the area around Albany Med/Law schools which has a lot of good neighborhoods but prices are higher and cap rates are low.
Real Estate Agent · Capital Region, NY · Member since 2019 · 19 posts · 6 votes
5y
Piggy backing off of this, right now I'm looking at a property down on Delaware Ave for my second househack. I've heard some mixed opinions on this area and looking for some thoughts. It seems if your at the right spots on Delaware you can be fine, but if you tread to far down where Second Ave is, is where it gets sketchy. The house is in really good shape and the area looks fairly clean, but a couple people I've talked to have a lot of concerns of that area which is giving me second thoughts... any other locals able to shed some light?
Real Estate Agent · Albany, NY · Member since 2018 · 80 posts · 24 votes
5y
@Scott Sherin Hey scott, I'm a local investor and agent in the albany area! That could be a great location with potential for some good cashflow! Reach out if you'd like to connect and chat!
Brooklyn, NY · Member since 2017 · 13 posts · 30 votes
4y
Hi Mary June,
I was wondering if you have had any success with your search for a multifamily in Albany, NY. I bought a 2-family in Albany in April, and have been actively looking for my next (I have one under contract right now). The reason I am writing you is because I had the same question of whether there was a "catch" when I first "discovered" Albany's favorable cap rates and relatively low prices as compared to NYC (I live in Brooklyn and grew up in Jamaica, Queens). I am wishing you success in your foray into Albany, NY and look forward to running into you in the forums or meetups.
How has Albany been treating you these past few years? Thinking of purchasing a multifamily in the area as I am also from NYC. Was thinking the 12208 area by Washington Park Lake and the schools there. Any particular area you'd recommend?
Piggy backing off of this, right now I'm looking at a property down on Delaware Ave for my second househack. I've heard some mixed opinions on this area and looking for some thoughts. It seems if your at the right spots on Delaware you can be fine, but if you tread to far down where Second Ave is, is where it gets sketchy. The house is in really good shape and the area looks fairly clean, but a couple people I've talked to have a lot of concerns of that area which is giving me second thoughts... any other locals able to shed some light?
Rental Property Investor · Albany, NY · Member since 2019 · 47 posts · 16 votes
4y
How did your house hack go on Delaware? The Normanskill Bridge has always been the cutoff for me but I've know REIs who have found nice cash flow within the city limits.
Check out Troy, NY area. Especially around RPI (my school). Lots of students want good, cheap housing and won’t shy away from holes in the wall or other cosmetic issues, and will rent by the bedroom. Let me know if you’d like to invest around there... looking for my first deal!
Hi Chris, were you able to find your deal in Troy? how did it go?
@Scott Sherin Hey scott, I'm a local investor and agent in the albany area! That could be a great location with potential for some good cashflow! Reach out if you'd like to connect and chat!
hey Brendan, I m looking for student rent by room, do you think that's doable by long distance managing?
Real Estate Agent · Ozone Park, NY · Member since 2014 · 38 posts · 8 votes
2y
@Anthony Stephens. Hi Anthony. I am just wondering if you still investing in Albany. Please share your experience . I was able to buy property in Queens.