Where to Buy a Duplex in the Greater Buffalo Area?

[Jordan Sternberg]

Just getting started in real estate investing. I’m looking to buy a duplex, to live in one unit and rent out the other, in the Greater Buffalo Area. Ultimately when I move out I’ll rent out both units. What are the most lucrative areas in Buffalo to buy a duplex? Any other tips are also welcome. Thanks.

[Matthew Irish-Jones]

@Femi Chebaís and @Austin Hazen  thank you both. 

@Jordan Sternberg lucrative can be a relative word sometimes.  There are areas that are great for cash flow, and there are areas that are better for appreciation.  Developing a real estate investing strategy that fits your goals is probably the best way to start.  

One of the most lucrative cash on cash places to invest right now is Niagara Falls, however, it also comes with the most risk.  Most investors are not willing to spend big dollars up there due to the amount of things that can go wrong with an investment.   ON the other end of the spectrum there is almost no cash flow in the Elmwood Village but, there are A class assets, massive tenant demand and its been appreciating over the last 10 years.  

For a newer investor I think I would suggest a middle ground, especially if you plan to live in the property for a while.  Your best bet is to find a B class area where its nice to live, there is some cash flow, and you have a chance at appreciaiton.

NO matter what area you go into, you should always want to get a solid physical asset.  The structure, mechanical's, and layout of the units should all be in good condition.   A good investment can go bad very quickly when you run into plumbing, electrical, and water issues.