Lender · New York City, NY · Member since 2016 · 21 posts · 13 votes
Hi everyone,
I've been listening to BP podcasts for 1.5 years now and just recently started browsing forums so I'd figure I'd introduce myself.
For the past 2 years I've been working as a commercial real estate underwriter/portfolio manager for a private bank in Manhattan, NY so I have a bit of background in the CRE side.
I'm looking to start out my REI as an out-of-state investor as I'm currently priced out of my market here in NYC. I plan for my first deal to be located in Buffalo NY, I've spent 4 years of college there and am familiar with the area and demand for student housing.
If anyone knows of good investor friendly agents or property managers in Buffalo, I'd appreciate some recommendations. Looking forward to meeting some great people on here!
@Adrian Tuazon Welcome to BP family! Congrats on deciding to invest! In addition to this post, consider doing reverse-engineering and search for folks in Buffalo here on BP. And then reaching out to them directly. Also, when you start looking at the properties and going to Buffalo, plan to meet with property managers and realtors and other professionals in person. Nothing works better than meeting the potential partners in person! All these people may potentially become part of your team, so take some time to meet them in person!
In addition, network in home town - NYC. And you never know who you meet. :) We have a meetup in NY. You're welcome to join us!
Hello @Adrian Tuazon , good luck with your first investment. Biggest piece of advice I will give you being local in Buffalo my entire life, do your homework. Just like anywhere, there are alot of bad PM companies out there.
Also, the Buffalo market has changed quite a bit and some areas could actually be sort of overpriced at this point. The areas also change rapidly, not just town by town but block by block and even street to street.
Awesome to see people investing in NY. I went to school in Binghamton and was going to invest in student housing there, but I decided on PA instead just because they were building so much student housing and the campus is far from downtown.