intrested in investing in buffalo N.Y
2 Replies
Tzvi Benaim
from rishon letzion, North District
posted about 3 years ago
Hello,
I'm intrested in buying a house in 111 Sussex, Buffalo N.Y, and wanted to ask
for information about the area and whether or not I should invest in this house in order to rent it later on.
Thank you very much,
tzvi
Matthew Irish-Jones
Real Estate Agent from Buffalo, NY
replied about 3 years ago
This is a very tough area, high crime, low rental rates, some property managers won't take on accounts in this neighborhood (I am one of them).
It is also a single family so if it takes some time to get a tenant you will not have any income coming in. I would take a long hard look at the vacancy rate/late rent payment part of the formula in this equation.
With all of that being said... sometimes there is wisdom in being first to a neighborhood. The price reflects the neighborhood.
John W.
Rental Property Investor from Buffalo, NY
replied about 3 years ago
The picture of this property on zillow says it all LOL