New out of state investor looking to invest in Buffalo, NY or Rochester, NY

[Nancy Eyzaguirre]

Hi, I am looking to invest in a small multifamily in the Buffalo area. If anyone could give me any additional info about the market. I was considering Rochester too. Any recommendations on investor friendly agents?

[Timothy Smith]

@Nancy Eyzaguirre hi Nancy! Thanks for your post and I will shoot you a message separately. I am a seasoned investor here in Buffalo, focusing primarily on small multifamily value-add opportunities. We’ve done everything from a coat of paint and some flooring, to rebuilding dilapidated houses from the dirt up. I am also an agent that works with folks looking to do the same.

You will find a lot of great commentary about Buffalo here on the forums if you search, but the main thing is you need to have boots on the ground that understand how areas change block by block. Buffalo is not a city that you can simply invest in a ZIP Code as property conditions and neighborhood vibes can change extremely quickly. Many out of area investors get excited about the cheap cost of entry, but that can end up becoming rather expensive with an older property, poor management, and unfamiliarity with tenant laws.

Best of luck and I hope we can connect.