New York is too expensive and l'm looking at other states

General Landlording & Rental Properties
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New York is too expensive and l'm looking at other states

Gregory Craig
Member since 2019 · 6 posts · 7 votes

I want to leave NY, and I'm looking into other states.  My plan is to find another teaching job, and buy a duplex or a triplex and house hack.  I'm tryin to look for a pro landlord state, and I'm not sure if North and South Carolina are a pro landlord state.  Also, I was looking into Virginia Beach to see if it is a pro landlord state.

Thanks for your help,

Greg

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Marci Stein
Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
6y

I live in Manhattan but invest upstate 

New York in B and c areas 

I always get 2% rent - it is very 

affordable and they are nice family 

neighborhoods

2Reply
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  • David Nacco
    Real Estate Agent · Chattanooga, TN · Member since 2018 · 258 posts · 136 votes
    6y

    @Gregory Craig Virginia is a relatively good state for landlords. I live about 30 minutes from VB and there’s a lot of potential in the area! @Patti Robertson is a great point of contact for anything related to the rental market. Feel free to ask me any specific questions you have as well!

    1Reply
  • David Nacco
    Real Estate Agent · Chattanooga, TN · Member since 2018 · 258 posts · 136 votes
    6y

    @Gregory Craig also what city are you from? I grew up in Rochester!

    0Reply
  • Alex Olson
    Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
    6y

    @Gregory Craig Kansas City is a great place to kansas city. Good cap rates, good appreciation, great diversity of product. If you would like to talk further let me know.

    1Reply
  • Marci Stein
    Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
    6y

    I live in Manhattan but invest upstate 

    New York in B and c areas 

    I always get 2% rent - it is very 

    affordable and they are nice family 

    neighborhoods

    2Reply
  • Gregory Craig
    OP
    Member since 2019 · 6 posts · 7 votes
    6y

    I'm from Long Island, Suffolk county.  I lived in Rochester for one year in 2010. 

    2Reply
  • Stephen J DavisBusiness Member
    Rental Property Investor · Houston, TX · Member since 2017 · 529 posts · 467 votes
    6y

    Get the state approved leases from North and South Carolina and read them. That will tell you if the state is fair to landlords. Same for Virginia.

    1Reply
  • Dan LaFontaine
    Developer · Hamptons / Montauk, NY · Member since 2014 · 58 posts · 20 votes
    6y

    @Marci Stein Looks like you have a nice nice portfolio up there, well done.  I'm curious what towns you invest in?

    1Reply
  • Raychelle Greene
    New to Real Estate · Rochester NY · Member since 2019 · 6 posts · 2 votes
    6y

    What do you think about the market in Rochester 

    0Reply
  • Marci Stein
    Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
    6y

    @Dan LaFontaine 

    Sullivan and ulster 

    county . Buy for 60-80 k 

    Rent for 12–1500 month

    2Reply
  • Trevor Ewen
    Rental Property Investor · Weehawken, NJ · Member since 2014 · 1k+ posts · 704 votes
    6y

    @Gregory Craig

    If you're relatively open-minded on where to go, then there is a lot to like about Tennessee, Kentucky, Indiana, and Arkansas. Great states. All are landlord friendly, low-tax options. Each has 1-2 anchor cities as well.

    1Reply
  • Nick Rutkowski
    Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
    6y
    Originally posted by @Gregory Craig:

    I want to leave NY, and I'm looking into other states.  My plan is to find another teaching job, and buy a duplex or a triplex and house hack.  I'm tryin to look for a pro landlord state, and I'm not sure if North and South Carolina are a pro landlord state.  Also, I was looking into Virginia Beach to see if it is a pro landlord state.

    Thanks for your help,

    Greg

    I've looked into Norfolk, VA as a place to invest in. I've heard it's a big spot for millennials. It's also next to VA Beach.

    2Reply
  • David Nacco
    Real Estate Agent · Chattanooga, TN · Member since 2018 · 258 posts · 136 votes
    6y

    @Nick Rutkowski it’s also the location of the largest navy base in the world filled with people who want to live off the ship and rent

    1Reply
  • Patti RobertsonBusiness Member
    Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    @David Nacco - My hometown is Elmira.  

    757-472-2547
    1Reply
  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    6y

    Consider North West Indiana also. Decent house price, decent rent, lower tax and landlord friendly laws.

    0Reply
  • Dan Krupa
    Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    6y

    @Gregory Craig agree with Alex. I have owned properties on East and West coast. Reside in Kansas City, MO now. Great place to be in the real estate business.  

    0Reply
  • Martin Grizzanti
    Investor · Rochester, NY · Member since 2015 · 499 posts · 169 votes
    6y

    Rochester ny has cash flow but worst state to invest in x10

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    6y
    Originally posted by @Gregory Craig:

    I want to leave NY, and I'm looking into other states.  My plan is to find another teaching job, and buy a duplex or a triplex and house hack.  I'm tryin to look for a pro landlord state, and I'm not sure if North and South Carolina are a pro landlord state.  Also, I was looking into Virginia Beach to see if it is a pro landlord state.

    Thanks for your help,

    Greg

    Simple rule of thumb to use to answer your question.... if it's Red it's pro landlord. If it's Blue it's pro tenant.

    1Reply
  • Efraim L.
    Attorney · NYC · Member since 2019 · 33 posts · 22 votes
    6y

    @Marci Stein

    Isn't Sullivan county full of orthodox Jewish summer vacationers, what towns have the rentals for the winter months?

    0Reply
  • Marci Stein
    Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
    6y

    Yes but that’s only 15 20 % of Sullivan county population, mostly in
    Monticello. 

    0Reply
  • Efraim L.
    Attorney · NYC · Member since 2019 · 33 posts · 22 votes
    6y

    @Marci Stein

    So which towns are better with rentals that is not disturbed by the summer visitors?

    0Reply
  • Marci Stein
    Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
    6y

    They all are , except Monticello .

    0Reply
  • Eli Lederman
    New York, NY · Member since 2018 · 215 posts · 50 votes
    5y

    @Efraim L. perhaps educate yourself - 3 month summer rentals make more then year round rentals. 

    Just stay away from the bad areas. 

    0Reply
  • Eli Lederman
    New York, NY · Member since 2018 · 215 posts · 50 votes
    5y
    Originally posted by @Marci Stein:

    They all are , except Monticello .

    Monticello is on fire now. Insane Prices. 

    0Reply
  • Marci Stein
    Rental Property Investor · New York, NY · Member since 2011 · 956 posts · 510 votes
    5y

    Everything in SC is on fire right now. 
    still , I don’t buy in Monticello because it’s too hard to find good tenants. 

    0Reply
  • Account Closed
    Specialist · Charlotte North Carolina · Member since 2020 · 112 posts · 66 votes
    5y

    North Carolina is better for landlords between the two! Better on taxes than SC 

    0Reply
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