Binghamton, NY Student Rentals

14 Replies

Hello, I am looking to invest in student rentals in Binghamton NY. Does anyone know of a reliable realtor that knows the area well as well as a property manager?

Thanks

Just to let you know I just finished a rehab. on Holland Street off Clinton. All new carpeting, paint, flooring, new appliances, rear deck, lots of space for parking in back, 3 car garage. Asking $75,000. Call the realtor ERA Decker Realty at 607-692-3665. for info. 

Mike Sedlacek, Real Estate Agent in VA (#0225223133)
Originally posted by @Amit Sinha :

Hello, I am looking to invest in student rentals in Binghamton NY. Does anyone know of a reliable realtor that knows the area well as well as a property manager?

Thanks

 Hi Amit. 

Are you still looking for a real estate professional for student housing in Binghamton? If so, I'd refer you to Charlie Ackerman. He specializes only in student housing.He actually spoke at our REI Club meeting yesterday. You can reach him at 607-296-0758. Feel free to tell him I referred you.

All the best, 

Chris Stanis

Hi @Christopher Stanis thanks for the info. I am looking to invest in student housing in Binghamton too. Do you happen to know any reliable property managers in the area?

I am a Binghamton U alum and looking to get involved in the Student Housing market up there as well.    Did you have any luck ?   Did you end up finding anything ?   Just curious.  Any feedback would be great .

Thanks Chris, I just spoke to Charlie Ackerman.    He is very well versed in the student housing market around Binghamton University.  I'm planning on meeting up with him next weekend. I'll provide feedback

What has been the impact of the new campus that is opening this year so far on rentals? Has anyone had sizable losses/vacancies?

Originally posted by @Sandro Hagenbuch :

What has been the impact of the new campus that is opening this year so far on rentals? Has anyone had sizable losses/vacancies?

Sandro- their hasn't been a noticeable difference yet. There are a handful of investors who've scooped up some property near the Johnson City campus. It seems like most students are still interested in the West Side of Binghamton or downtown though. Most of the night life and restaurants in town are located there. I see a lot of students preferring to live near where they can have an active social life.  If you're still buying Student rentals, I would continue looking at Downtown Bing and the West-side. 

@Christopher Stanis Hey Chris- I recently purchased a home on the west side of Binghamton for student rentals. I am a 2012 graduate and interested in buying more as soon as I can find properties within my criteria. Let's connect and see if there is anything we could help each other with. Look forward to speaking with you. Shoot me a PM if you would like.

Been closing multis for 27 years.  When I recently spoke to a property manager in Binghamton he said that some westside/downtown rental houses are actually vacant and if you wanted to rent they now bring $100/$200 less per room/per month than a year or so ago.  This may reduce the sales price a bit on some.... but as they say location, location, location are still the key.... the outliers, however, will see discounts first.

@Gary Kline could you reccomend a good property manager? Given your experience I'm sure you have a good idea of who is worth using. I'll be buying in the area within the next feeble months. Thanks!

hi Amit and everyone who contributed to this post. I'm looking to invest in rental property in the Binghamton area. Currently I'm looking for a reliable property manager. If anyone knows anyone out there I would appreciate it.

Thanks Amir for this post. Also my objective is to buy an apartment building near the campus.

My apologies I meant amit

I can provide my thoughts on property management.  call me at my office please.