Anyone else investing in the Buffalo, NY area that is having good success?
Hey Adam, I’ve been investing in Buffalo NY for 10 years with a lot of success. The market has tightened up but, there are still a lot of great deals to be found.
@Maria Mendez ha they do! I just closed on one and took about 50 days by time we cleared probate, but should be worth the time. Which communities are you liking? I stick with BRRRR strategy and the only hiccup in that market is finding properties that can rent for a margin that justifies the time over the cost of taxes and a refinance loan primarily. Same questions for you @Matthew Irish-Jones . What are your strategies?
@Adam Jason buying quality homes. I don't mean quality homes on a spreadsheet, I mean actual, in person, well made and well conditioned homes. I have seen investors skip over them because they did not clear whatever their baseline COC return was set for, say 15%.. While a home in pristine condition, great tenants, and a new roof has a 11% COC. Guess who wins over 10 years on COC?
That is my personal strategy. Lots of others using other great strategies though, renovations, undervalued markets, upgrading amenities, etc..
@Matthew Irish-Jones Agree with you 100%. Also renting I aim for location to attract best tenants and minimize repairs. Anything in your investing now that is slowing you down we could potentially help one another with?