Rental Property Investor · San Diego, CA · Member since 2008 · 161 posts · 15 votes
I am sure that there are several investors here that deal with property in NY. I am looking for a sensible place to obtain funding at a somewhat reasonable rate.
I am looking to either buy property that is ready to rent OR buy a property, rehab it, then rent it. Either way I am looking to buy and hold for cash flow.
Any pointers? Places that loan in NY? Places to stay away from that over charge? Lenders that know and understand this business?
I think you need to be a little more specific as to what area of NY. Lower East side of NY is high prices, and REALLY hard to find a cashflow property, while upstate NY you can find houses for 100k easily with great cashflow.
Initially I was looking in Rochester. I have since determined that I will find a safer investment in Indianapolis. Lower unemployment and better growth.