Rental Property Investor · Lancaster, NY · Member since 2015 · 43 posts · 7 votes
I’m looking to invest in Jamestown, NY. I did a lot of research regarding the area by looking up the employment, crime, real estate taxes, economic growth (or lack of) and connect with real estate investors. I don’t have any luck making any real connections. I have been reading about investing in small towns and the risks of owning investment properties in this type of area, but I prefer connect/talk to someone that has real life experience investing in small towns.
Some facts about Jamestown, NY
Population just under 30k
Median household income 31k
Major employer manufacturing, retail, health care
Unemployment a little higher than national average
Investor · Austin, TX · Member since 2017 · 352 posts · 374 votes
5y
I own 20 doors in Jamestown. Great cash flow. Neutral/ slightly negative appreciation. Can run into some rough tenants. Plenty of cheap inventory. One of the few markets in the country where you can buy a quad for 50k and rent each unit for $600. blows the "1% and 2% rules" out of the water. Good place to cut your teeth I think as a beginner. You'll learn a ton and cash flow... probably. haha
I own 20 doors in Jamestown. Great cash flow. Neutral/ slightly negative appreciation. Can run into some rough tenants. Plenty of cheap inventory. One of the few markets in the country where you can buy a quad for 50k and rent each unit for $600. blows the "1% and 2% rules" out of the water. Good place to cut your teeth I think as a beginner. You'll learn a ton and cash flow... probably. haha
I would love to connect with you as I am in the process of trying to purchase my first couple investments there.