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Upstate New York Real Estate Forum

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Sean Ryan
  • Troy, NY
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Returns in the Capital Region

Sean Ryan
  • Troy, NY
Posted Aug 9 2016, 08:59

Hey everybody,

I'm looking to invest in small Multifamily properties near Albany, New York. I'm looking at the various cities and suburbs and I was wondering what type of return people expect in each area. Do your properties typically meet "the 2% rule?" What is your typical purchase price and rent? I've tested the 2% rule on a lot of properties but i tend to end up between 1.5% and 1.75% most of the time. I've also run numbers using the BP calculators and properties tend to cash flow a little bhile using conservative numbers. 

Here are some cities I'm looking at (Also serving as a keyword spam): Troy, Albany, Schenectady, Colonie, Clifton Park, Rensselaer, Cohoes, Watervliet, Wynantskill, Niskayuna

I'm primarily looking at Troy right now, with the goal of using an FHA loan to purchase a 3/4 unit. Any advice and tips are welcome.

Best,

Sean 

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