Upstate NY economy?

Question

Hi all,

I'm located in the NYC metro area. I don't know much about upstate NY. How is the economy doing? Is it a place where you all are willing to invest in?

Account Closed · Answer

@Steve W. Where exactly in upstate NY are you talking about specifically? And what types of real estate are you talking about investing in? Buy and hold? Fix and flips? Foreclosures? Single family? Multi family? Residential/commercial?

Ryan Toth · Answer

@Steve W. yes, Newburgh (City of) is a bit tough. Town of, is different. With 84 and 87 and soon the new 86 (17 N/S) interchange to be complete it is a great commuting area. There are also 2 lines that run into the city. Beacon has a station that goes to G. Central and Washingtonville has a terminal that goes into Hoboken. West Point is about 15 miles South of Newburgh and then there is Stewart but that is ANG so less Active duty personnel getting a housing allowance.

Steve W. · Answer

@Ryan Toth I am not that familiar with the Hudson valley area, but I've read the Newburgh is kind of a rough area didn't know there was a military base there. Beacon, from my understanding, is a hot area. I know some people moving out of the NYC area to Beacon and then commuting into the city.

Steve W. · Answer

I was looking at Beacon and Newburgh mostly the Hudson valley area.