Excited to be joining this group! I live in San Diego but recently bought a duplex in Rochester, NY. About a month before the new rent laws went into place. It's been a learning curve to say the least!
The market was appealing due to making a smaller investment up front but the property's opportunity to cashflow couldn't be passed up.
I've established some connections in Rochester, but interested to pick the brains of other investors in the area. Or investors who are making it work in markets where they aren't local.
Duplex's seem to be all the rage in Rochester, but has anyone been successful with a 4-unit?
Any strategy suggestions are welcome!
Lots of people buying 2-4 unit places in Buffalo as well. It’s a very similar market, has low barrier to entry and can cash flow.
Make sure you have a great property management company, and a good realtor.
I am a real estate agent in the Rochester area looking to build my own local rental portfolio. If you have any questions about the area feel free to contact me! I have a few flips under my belt but haven’t been able to establish any rentals yet. @Kaelyn St. Tomas
Welcome to the Roch @Kaelyn St. Tomas ! I’m in the process of closing my first home hack and it is a fourplex. I don’t know yet how is going to work but I have a good feeling that is going to be great. In the inspection today I learned that with 4 units you can get a LOT of grants from the city and even electricity companies just due to the size and number of units.
From my experience there aren’t a lot of those in the market and my guess is because they cash flow so well. I would recommend something like direct mailing. A good realtor can help you find the landlord from tax records and help you mail them.
Also I will be soon posting my story in the investment section as I continue my process for my first house hack!
@Kyle Kelley thanks I appreciate it!
@Jose Batista Abikarram congrats!! The grants are probably for owner occupants, wish I could use them! I'll look up your story!
Welcome @Kaelyn St. Tomas ! Quads are simply less abundant. They’ll work fine.
@Kaelyn St. Tomas Welcome! I'm also from San Diego investing out of state. Congrats on your purchase!
bRRRRochester has been great for me. I am bias as it my hometown and its the only place I own homes but its been awesome.Ideal for all types of investing. Let me know if you have questions.
@Kaelyn St. Tomas great stuff. Rochester is an excellent market to invest and grow a healthy cash flow. So many out of town investors invest here. I manage several properties for OOT investors. Reach out if you have any questions.
Good luck !
@Martin Grizzanti thanks! I'm glad to hear it's working out for you.
@Aqil Dharamsey thanks! I may have some questions for you.
I live and invest here as well. The market has gotten competitive over the past couple of years. It is a great market to cash flow. Let me know if I can answer any questions for you.