Rochester really that much better

5 Replies

for owning rentals than the most of the rest of the country?

 Bought my first rental property in upstate New York 35 years ago.   Thought getting 3% rent on purchase price was normal

Did some flips and rentals in NC and now in FL.  

Have had my real estate license in all three states 

Am back in ROchester a few months a year

  Out of curiosity looked at some rentals available in Rochester in the cap rates destroy what I see most people buying here on bigger pockets in other areas of the country 

 I feel I really must be missing something or is it actually possible to buy units 25 grand each and on a quadruplex net 19 grand a year in B neighborhoods?

Originally posted by @Larry T. :

@Michael Plante not in B neighborhoods, no. 

Sorry don’t understand your reply

What is your definition of a B neighborhood 

I am looking at some oF them right now

These neighborhoods are in fantastic condition compared to back in the ‘70s and ‘80s

Even my wife said she would feel safe living in these neighborhoods

No burned out buildings.  No boarded up windows 

Nicely kept yards 

Even a few friendly hellos and waves as we were walking the neighborhoods 

@Michael Plante B class are predominantly owner-occupied, mostly blue collar with some white collar.

What the neighborhood looks like is important.  And C/D class neighborhoods and can look good.  But those are the ones that are $25K/unit and will be in neighborhoods that are mostly absentee owner (rentals) with low-skilled workers and subsidized renters.

I go up there for work occasionally. What neighborhoods should I focus on?

Honestly I don’t know

I never heard the terms b,c etc until I joined bigger pockets a few months ago

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