Newbie in Rochester NY

15 Replies

Hello Everyone, I'm originally from Rochester and have been living in NYC for the past 5 years and have bought my first property here.  I am looking to start investing in Rochester for an anticipated return in 1-2 years.  I don't know where to begin.  Any help would be appreciated.  I'm thinking of buying multi family homes in the city but was interested on feedback for single family investments as well.  Thank you. 

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Welcome to bigger pockets! I am also an investor in Rochester NY. I would be glad to assist you with any questions you have. We have a property in East Irondequoit, the 19th ward and Charlotte.

Welcome @Julia Serce   it is great that you're here on BP!  Both multi and sf are viable options in rochester.  From a cash flow perspective, you're typically better off with a multi family.  There are instances when you can get very good returns on SFRs if you know the rental markets well.  These are usually less targeted by investors, though in recent they seem to be getting much more popular.  

Larger properties are also typically more deferred than SFs.  I always add some upfront $ in addition to acquisition costs when evaluating MFs.  That isn't always necessary in the SFs.

@Julia Serce  Welcome to BP! Always like seeing fellow Rochestarians getting involved!

I second what @Mark Updegraff said, especially in regards to cash flow. There is a lot of information in the forum about the different models people use and are comfortable with. That will have a lot to do with what you decide to pursue. MF will indeed bring in the most cash flow but as with anything there are specific downsides to MF as there are with SFR.

Best of luck and hope to see you around!

Hi Julia, 

I am an investor in Rochester, NY and could help you find properties. Feel free to email me [email protected] I also have a list of buy and hold duplexes and apartment buildings all around in Upstate NY. I can email you the list if you are interested. 

Look forward to hearing from you! 

Jen Roth 

Welcome to BP community @Julia Serce   It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

Wishing you the best! 

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good evening everyone I am investor from Brooklyn NY. I invest in Rochester NY and I'm looking to get my second property what do you guys think is my best next move. Invest in the lower income area where there high rents or better middle class working class area ? My one property i have now rents for 775 a month and i got it for 15,000 and put about 8,000 into it.  Also ill like to work with a hard money lender any suggestion?

Welcome @Julia Serce  .  @Mark Updegraff  won't toot his own horn here, but connect with him as he is helping a lot of us BP members buy rental property around rochester.  He knows the areas better than most realtors because he owns in many of the areas we are investing in.  

Feel free to post any potential areas here with the tag rochester, ny and we will see the post and be glad to help out.

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