Binghamton, NY Downtown area...Good or bad??

15 Replies

Hi BP family. Looking to connect with fellow real estate investors in the Binghamton, NY. Am interested in learning more about the area (Binghamton, Endicott, Johnson City, Vestal). Anyone, want to meet for coffee and share some thoughts. Thank you all!

Hi Ray, 

I just bought some properties in Binghamton if you want to touch base.  I actually living in Hoboken, NJ right now.  Good luck!

Pete

I live in Long Island and investing in Binghamton and Vestal. 

@Peter Kelly Awesome Peter. Great to know you jump in to Binghamton. Did you buy for student housing or just residential investing? Good luck with your project.

@Drawyan Zhang How are you? are you in the student housing market?

Originally posted by @Ray Gomez :

@Drawyan Zhang How are you? are you in the student housing market?

 Yes, currently only students.

Hi @Ray Gomez . I live in downtown Binghamton. It can be a good cash flow market, very little natural appreciation anywhere, so you won't see that benefit. One of the nice things about the Binghamton market is that you can have pretty high rental rates versus what you pay for a property. For instance, It's not uncommon to pay 25k/ unit and it can generate 500-700/ month of rent from a unit. Student housing is also another nice market space with the average rent/ bedroom between $325-375/month. 

How often do you make it to the Binghamton area? I'd gladly meet you for a cup of joe when you're in town? 

Thanks! 

Hi Guys, I am also looking to invest in student rentals in Binghamton. I am a BU alum so I know the area fairly well, and it seems like a decent place to find cash flow. 

How has the rental market there treated you so far?

Originally posted by @Nick LoFaso :

Hi Guys, I am also looking to invest in student rentals in Binghamton. I am a BU alum so I know the area fairly well, and it seems like a decent place to find cash flow. 

How has the rental market there treated you so far?

 Hi Nick, same here. I'm also looking to invest in student rentals in Binghamton. Have you brought any units yet? Would like to hear about your experience.

Originally posted by @Ray Gomez :

Hi BP family. Looking to connect with fellow real estate investors in the Binghamton, NY. Am interested in learning more about the area (Binghamton, Endicott, Johnson City, Vestal). Anyone, want to meet for coffee and share some thoughts. Thank you all!

 Hi Ray, how's your experience? Did you invest? I'm also looking to invest in Binghamton, I'd love to meet and connect with you.  

Hi All,

New subscriber here. I graduated from BU in 2013 and moved around the country for work for a couple years, but I just moved back to the area last summer. I bought a house in Vestal and am currently looking at opportunities in the student rental market. Would be happy to connect to any and all interested in the same endeavor.

Hi All,

I'm new to this forum as well as to investing, but I've been thinking about investing in student type housing for some time. Thoughts from those that are currently doing this in the Binghamton area? Thoughts on this as a whole. I live in NY so this is something I'd be doing as true investment. All replies are greatly appreciated. And if you can recommend I speak to an agent or property manager that would be great.

Thanks!

In the Binghamton there are agents that specialize in student rentals.... contact Charles Ackerman at ackermanrealestate.com

Hi @Nisha Diler ! I'm an agent and an investor, and I work with a century 21 Sbarra & Wells in Binghamton. I mainly flip myself, but I am very familiar with buy and holds, student rentals, BRRRR, etc. Feel free to PM me or give me a call with your questions!

Hi BP family,

I am a Binghamton Alum and recently traveled up north to visit the school. I can not explain how different the downtown area looks. I've been doing research on Binghamton's student housing market. If anyone is willing to provide insight, I would love to learn more. If anyone is willing to help out a fellow entrepreneur, let me know. Thanks

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