Areas to invest in Upstate NY

15 Replies

It's such a different market, we are in the process of buying one in a Rochester suburb. Plenty of well-priced 2 families there, but the neighborhood is important. There's also a lovely guy in Buffalo, @Matthew Irish-Jones , who specializes in investor properties in the Buffalo market. I didn't buy through him, but purely because I fell down the multifamily syndication hole instead. 

Buffalo is still a great place to get some good appreciation AND cashflow. You just need to know the areas well and not buy a property that will continue to cost you in repairs as almost all the homes are very old. A solid CapEx plan and inspector are essential.
Are you going to occupy one unit or strictly investment?

Most--if not all--properties, especially now, in that budget will require extensive work immediately or very soon down the line.

Can I ask why you wouldn't want to finance and potentially purchase two properties, or at least a second one sooner?

For $100K, there may still be some opportunities in 14619 and in 14609 (in the few blocks west of Culver Road).  Buying in these areas requires a lot of local expertise/knowledge.  Going it alone is a recipe for disaster.