New areas to invest in real estate -- upstate new york ?

[Michelle Backer]

Live in NYC

Any upstate towns where I can invest for a good price?

[Salvatore Lentini]

@Michelle Backer - you have the right idea.  So many new investors that live in high cost of living areas look to the midwest or other cheap areas to invest.  I'm not a big fan of that strategy.  I had 19 of my 200 rentals in Dayton OH for that exact reason and you pay for what you get.  Low priced houses, low quality tenants, low quality property managers, low quality contractors.  After 7 years I sold them all.  Thankfully I bought them dirt cheap after the '08 meltdown so after years of break even I made money when I sold them.  I seriously doubt if I were to do it again now, 7 years from now I would not be so lucky.  I grew up on LI and lived in NYC for years.  The trick to looking upstate is finding enough population density and avoiding the seasonal, 2nd home areas.  Otherwise you'll have a seasonal rental which if done properly can be great but probably not the best idea for your first few rentals.  Nyack?  White Plains?  Are those areas overpriced now?  You need to find something next to the overpriced areas.  NYC population is so dense that it will continue grow to the next up and coming area.  That's where you want to be.