What about the Rochester, NY area?

Question

Does anyone know much about the Rochester, NY market?  I'm interested in properties there, but not sure how sustainable that market is.  Who on here invests, lives, or works in this area?  How is it?  Thanks.

Carini Rochester · Answer

https://www.neighborhoodscout....

@Shannon Sadik

This website may help.

It's a bit of a rough area. I have one single family house in that zip code, in the city. It can be a little rough going. High crime rate. But a lot of good (stable) people live there too. Tenant screening is key. Make improvements to the house/apartments, charge appropriately. My strategy is to charge near the top for the neighborhood and that seems to weed out people just looking for a bargain and people with the worst histories, lowest credit scores, etc. There are some nice doubles and multi-families on St. Paul and nearby side streets.

I wish you well.

Barry Cohen · Answer

I'm a out of area investor with a few duplexes and working on a fourplex. Rochester seems to offer some good opportunity with a range of areas to invest in for different cap rates. Like the others have said, PM is critical as I am finding with my first PM, and looking to change. Good luck.

Martin Grizzanti · Answer

I ainvest full time in Rochester--feel free to reach out

Kristin Hafner · Answer

I am an agent in the area and work with mostly investors. Please feel free to reach out with any questions that you may have!

Sidharth Malik · Answer

How can I do zip code research in Rochester? Anyone knows how the neighborhood around Roberto Clemente School No. 8 is? I will really appreciate the help.

Account Closed · Answer

I'm in Rochester.  Moved here last year.  Have bought four properties here in the last three months, may close on another in the next couple of weeks.  Too early to say for sure, but I'm quietly confident.

Shannon Sadik · Answer

Thanks @Christopher Schmidt . I don't need one just yet, but wanted to get an idea of what to budget for on the next property if I do.

Christopher Schmidt · Answer

@Shannon Sadik he's actually a friend of my in-laws (who live up there) and only has a few properties.  He scaled back years ago, due to the stress lol...but if interested I can pass your name along.

His rate is typical for what it seems up there, 100% first month, 10% subsequent on what is collected (not what is due).  6 month guarantee, which I think is important in lower income areas.

Chris

Michael Beinetti · Answer

@Tou V.  Rochester is a great market to invest depending on what your strategy is.  I live and work in Rochester.  I grew up in the 19th ward and am very familiar with all of Monroe country (thanks to my former life).

Management makes a huge difference.  I work with an excellent PM as well if anyone is interested feel free to message me.

Shannon Sadik · Answer

@Christopher Schmidt Do you mind me asking who you are using for your property management and what the going rate is?

What about the Rochester, NY area?

Most Popular Reply