Best place to invest in the Hudson River Valley (upstate NY)?
Hi, BP friends!
I'm looking to invest in a multi-family property (BRRR) in upstate NY, and have been exploring Newburgh, Kingston, Cornwall-on-Hudson, Coldspring, Beacon, and Poughkeepsie.
I'm new to this area - does anyone have thoughts or insight into these markets? Maybe you own a rental in one of the cities above and have some lessons learned you could share? Any investor-friendly realtors I should work with? Tax breaks for renovations I should know about?
Thanks in advance!
-Megan
Megan,
Sorry for the late reply. I have been traveling a lot. Sunday's are best for me if you want to meet.
Hello, I just found this very interesting feed and I would like to get your opinion on investing in the Hudson valley. I bought a two family brick property in Hudson NY in 2014 and I would like to sell it to buy in an upcoming Hudson Valley town. Do you think it's a good time to sell?
I would be interesting in buying in Newburgh mainly to fix and flip a property, any suggestions?
Thank you so much!
Evelyn
Evelyn Zanetti you had great timing in Hudson!
I would say I’m Newburgh biased, I think it’s really taking off right now. It’s hard to find a block that hasn’t seen progress and some areas are complete turnarounds.
We have a newburgh Meetup in the AM once a month. There is also a weekend meetup in newburgh and another in Brooklyn...I help with the AM one. I’ll post back here when it’s set.
Also there is a local newburgh broker on here. Check out Sarah Hooff. Sarah is involved in the weekend meetups
@John Hickey Can you tell me when the next Newburgh meetup is? Either weekend or morning one. Thanks!
@Evelyn Zanetti and @John Hickey - I am interested in the Newburgh REI group as well. When and where do they meet and is there more information on them anywhere online? I've seen it mentioned in another post as well.
Thank you all for replying and your valued suggestions!
Thank you for shout out @John Hickey I am also madly Newburgh biased. I work in real estate exclusively in this city.
Purchase prices and rents are going up exponentially and steadily, respectively. It's an interesting time for Newburgh, and there is a need for competent, long-sighted, proactive, and ethical landlords. As a real estate agent, I love drawing clients from Bigger pockets; I find them to be intelligent and high-minded, and generally fun people to help!
Thank you Sarah, and thank you @John Hickey I would be interested in seeing some properties, very reasonably priced for all cash offers. How can that be arranged?
Evelyn Zanetti I’m not an agent. If I hear of market stuff I’ll DM you. Reach out to Sarah.
I know this post is kind of old, but I found it via Google search as I am looking to get into the Hudson Valley multi-family market. I'm interested specifically in New Paltz and Uptown Kingston. I've recently moved from Colorado, would anyone have any recommendations for local agents who are investor friendly?
Thanks!
Collin,
I've been busy and don't monitor this site much but I can tell you uptown Kingston is a great market. There is a lot of demand for rentals. Like anywhere, there are good and bad areas and they are often separated by only one block. As for a realtor, I can't say enough about Sharon Farley at Murphy Realty. I have worked with her for several years now. She does a great job of understanding the buyer and will be honest with you about a property or location.
happy hunting,
TOm
@tom ham What are the drivers for the Kingston market. I am not familiar with the area
Hey everyone.. I know this is a very old thread. Is anyone still looking and/or meeting up in Newburgh? I just moved to Beacon and am constantly looking at the super low priced opportunities across the river...
@Arthur Hicks The Newburgh meet up was hosted by the Orange County Real Estate Investors club. They stopped in person meet ups through covid. Next month is the first new in person meet up, it will be in Monroe at 6pm on June 2nd at Tequilla Grill.