Is NY worth investing in 2021

[Chris Howell]

With everything going on with Covid and the mass exit of people from New York is upstate worth investing in anymore?

I’m an out of state investor with family roots in upstate. But I’m extremely cautious when looking for flips or buy and holds.

How has the market held up and I’m sure there are pockets that are better than others. For my buy and holds we look for C class and higher so the tenants are usually pretty good as far as jobs as everyone knows.

I just hear horror stories about loss rent and no values out of flips. But I love the area and I want to make sure I get the lay of the land before investing.

Thanks for the help!

[Jonathan Greene]

Short answer, yes. Some of the best deals in NY are going to be in Syracuse, Albany, and Buffalo, but tough weather. As others have mentioned, everywhere around the Catskills, Hudson, Beacon are all exploding with second homes and move-outs from the city. There is still room to grow in these markets, especially for STR which are all booked all the time since the pandemic.