Getting Started in Binghamton, NY

7 Replies

Hello!

I am a Binghamton University student graduating in May of 2020, who accepted a job to work at Lockheed Martin as an engineer following graduation. I am interested in purchasing buy-and-hold rental properties on the westside (student rentals) as a vehicle for financial freedom down the line.

I am looking to buy my first property sometime during the summer of 2020, and have been (unofficially) preapproved for $165,000 from the bank.

Are there any investors/realtors/property managers in the area that deal with student housing that I can reach out to for a crash course on investing in the area, and the essential basics of buy-and-hold investing for beginners. Willing to meet in person over a cup of coffee or something.

Thank you,

Joe

Hi Joe! Congrats on the job at Lockheed, that’s awesome!

I'm a realtor with Warren Real Estate's Commercial Division, and I specialize in residential investment (see: multi families). Student housing is by far and away the most popular choice for investors in Bing now, but there's A huge gap for young professional housing in the city too. You've got a healthy budget for the area, so you shouldn't have any trouble getting started.

I’ll send you a colleague request. :)

Also, @Christopher Stanis is an amazing resource; he runs the Southern Tier REI, and has experience in a bunch of different types of deals. @Gary Kline is someone worth connecting with as well; @Nichelle Kolokithia is a wholesaler/investor and comes across some great deals. @Paul McCue recently moved away but he’s very knowledgeable about the area; @Daniel Innarella knows everyone and is running some exciting investment groups; @Nick Rutkowski does investing in Cortland and the Ithaca area, and is starting to get in to some small scale development; I know I’m leaving people out but there’s a really healthy group of BP investors in Binghamton!

@Joseph Hurysz

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro

If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/

The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search

@Joseph Hurysz

Congratulations on your position at LM. I worked at the Owego facility for 10 years in finance and business development.

I’d be more than happy to meet up and discuss the local market, pass on my experiences and assist you in any way that I can. You can message me here on BP or PM me on FB (Dan Innarella).

@Stephanie Jacobson thanks for the shout out.

Hey Joe, if you're looking up in the Syracuse market please feel free to reach out. My Fiancee (@Molly Walsh ) is a Licensed Real Estate Agent. It's a lot easier to work with an Agent that knows about investing in & out. We have bought 20 units this year and have a few more closing. Let me know if you have any questions on anything real estate.

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