New to Real Estate · Beacon, NY · Member since 2020 · 7 posts · 5 votes
Good afternoon all!!
Brand new to BP and so glad I found it, so much information. I have dabbled in RE in the past but nothing major, pretty much have gotten lucky with some rentals. In the military and living in beacon, but considering renting my townhouse and getting a multi family in Newburgh, live in one, rent the other. I’ve been looking into Newburgh for a few months now and getting my ducks in a row just in case I pull the trigger. Has anyone invested in Newburgh recently? Is it still a hot market or too expensive to make it work? Most of the posts in the forums are from 2018 and I’m sure the info is a tad dated. Any and all advice will be greatly appreciated.
I’m a teacher in newburgh so I have only wholesaled there, never kept a rental. I felt it might be a conflict of interest. I do invest in Poughkeepsie, I have a bunch of units and have had a positive experience there. Anyone looking to invest there feel free to hit me up w questions. I bought a 10 unit last week and 2 duplexes 2 weeks before. I am supposed to lock up a duplex that needs a little love by end of the week that I will wholesale or keep in portfolio
I bought a duplex back in June 2019. Since then, there has been a lot of remodeling going on almost on every street in Newburgh. These were city owned properties that have purchased very cheap. Now the houses are a bit more expensive and a lot of nice apartments are appearing. You might be able to find a good deal, just keep your ears and eyes open. I know some investors are looking to buy houses cash. I have been asked a couple of times if I my self am willing to sell or know of someone looking to sell their property. I hope you find yourself some good ones.
I really appreciate the information Derek. I have a few areas in Newburgh that I think would be a good investment. Prices have definitely gone up, but I still think there is time to snag up a good one. I drive around the areas a few times a week. I’m excited and nervous.
I just listed it a few weeks ago. I have gotten many requests to tour the unit. A few have applied. My goal is to get it rented by the end of this month. For the price that it is listed, I was surprised many are interested. If I don't get it rented by the end of the month, I will have to adjust the price.
Newburgh us a very bad town. There is only maybe 1 or 2 good areas in Newburgh. You are better off looking into Middletown ny, Monticello, Florida, Monroe, Poughkeepsie, or Peekskill, or Ossining @Andres Restrepo
I’m a teacher in newburgh so I have only wholesaled there, never kept a rental. I felt it might be a conflict of interest. I do invest in Poughkeepsie, I have a bunch of units and have had a positive experience there. Anyone looking to invest there feel free to hit me up w questions. I bought a 10 unit last week and 2 duplexes 2 weeks before. I am supposed to lock up a duplex that needs a little love by end of the week that I will wholesale or keep in portfolio
@Andres Restrepo Well come to Bp , And hello from Peekskill, NY ,I invest in Peekskill New York, great experience so far. I have also look into Newburgh but always been hesitant due to the crime. Please let us know how it goes !
@Joe Aiola You are the best! @Andres Restrepo and I spoke and he is well on his way. :) I love all my clients who come to me via BP... it's so important to support productive value-added investment in Newburgh.