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Buying & Selling Real Estate

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Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
2
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5
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New to Investing in Rochester NY

Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
Posted Aug 21 2019, 14:22

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!

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Matthew Irish-Jones
Property Manager
Agent
  • Real Estate Agent
  • Buffalo, NY
2,197
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2,243
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Matthew Irish-Jones
Property Manager
Agent
  • Real Estate Agent
  • Buffalo, NY
Replied Aug 21 2019, 14:59

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.

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3
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Kyle Kelley
  • Rental Property Investor
  • Rochester, NY
3
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3
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Kyle Kelley
  • Rental Property Investor
  • Rochester, NY
Replied Aug 21 2019, 15:52

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

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Replied Aug 21 2019, 16:50

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!


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Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
2
Votes |
5
Posts
Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
Replied Aug 22 2019, 09:14

@Kyle Kelley thanks I appreciate it!

User Stats

5
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Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
2
Votes |
5
Posts
Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
Replied Aug 22 2019, 09:15

@JOSE BATISTA ABIKARRAM congrats!! The grants are probably for owner occupants, wish I could use them! I'll look up your story!

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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
1,453
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1,867
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Larry Turowski
  • Flipper/Rehabber
  • Rochester, NY
Replied Aug 22 2019, 10:26

Welcome @Kaelyn St. Tomas!  Quads are simply less abundant. They’ll work fine. 

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290
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253
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Danielle Wolter
  • Rental Property Investor
  • San Diego, CA
253
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290
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Danielle Wolter
  • Rental Property Investor
  • San Diego, CA
Replied Aug 22 2019, 14:53

@Kaelyn St. Tomas Welcome! I'm also from San Diego investing out of state. Congrats on your purchase! 

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496
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167
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Martin Grizzanti
  • Investor
  • Rochester, NY
167
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496
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Martin Grizzanti
  • Investor
  • Rochester, NY
Replied Aug 22 2019, 16:19

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.

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150
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Aqil Dharamsey
  • Rental Property Investor
  • Rochester, NY
150
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298
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Aqil Dharamsey
  • Rental Property Investor
  • Rochester, NY
Replied Aug 23 2019, 15:18

@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 !

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Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
2
Votes |
5
Posts
Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
Replied Aug 23 2019, 16:46

@Martin Grizzanti thanks! I'm glad to hear it's working out for you.

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Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
2
Votes |
5
Posts
Kaelyn St. Tomas
  • Rental Property Investor
  • San Diego, CA
Replied Aug 23 2019, 16:47

@Aqil Dharamsey thanks! I may have some questions for you.

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Jerry Padilla
Lender
#4 Classifieds Contributor
  • Lender
  • Rochester, NY
1,419
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3,451
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Jerry Padilla
Lender
#4 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied Aug 23 2019, 20:27

@Kaelyn St. Tomas

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.

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