First post on BP:
I'm looking for a new market to diversify our rental portfolio. I live in CO and own properties here and in the KC area. A good friend and fellow investor has two homes under contract in Watertown NY. The numbers appear to be almost too good to be true. Anyone have any experience in the area? Horror stories or wonderful news:)
@Chris Berisford , I have a portfolio of properties in Watertown. The area is nice for cashflow. Appreciation is not as aggresssive there as in other areas you may find. I like the tenant base and area though. Feel free to reach out with any specifics.
Looping in @Michael Ablan . He and I work together in the area. He is a fantastic realtor and property manager!
@Kevin Hunter - Thanks for the mention and kind words!
@Chris Berisford - The numbers are definitely legit. It's a great place to build a cash flowing portfolio. The main dangers here are stagnant population, winter and nearly non-existent appreciation.
Cap ex can eat you alive if you don't know what you're doing. Most investors get saved by their market naturally appreciating every year. Ours doesn't do that.
Feel free to reach out if I can be of any assistance
@Kevin Hunter - awesome and thank you. I'll definitely reach out as I have questions and appreciate the offer!
@Michael Ablan - Appreciate the quick response and insight. I'll try to carve out some time this afternoon to give you a shout. Look forward to picking your brain :)
@Chris Berisford it’s a hidden gem for cash flow! I have a couple there as well!
@Kevin Hunter amazing cash flow!