Was curious if anyone had any insight into owning rental props in the Buffalo/WNY area? I'm a transplant here and all the properties I own are out of state (FL, TN, & OH) I would love nothing more than to continue building my portfolio here close to home...but real estate/school taxes are so insanely high here....I just don't see how anyone does it and make it worth the investment?
One guy I know here owns a six-plex, his family has had it for years...said the only reason it works for him is because he owns it free-n-clear
I should clarify....I'm speaking of properties in the south towns, orchard park, hamburg, Boston etc areas....RE Taxes in this neck of the woods are so high ...obviously there are pockets of lower tax areas but this is kinda where I'd like to be
Im concerned with the overall state of the economy in there, plus the high crime in most parts of Buffalo... also, the winter :(
Crime has NEVER been an issue of Buying Properties in BUFFALO, you just have to KNOW where to buy and don't Generalize. BUFFALO is an awesome CITY when it comes to REAL ESTATE and CAP Rates and the WINTERS are no different than what's happening now in the NORTHEAST of the US.
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