Rochester rental property

4 Replies

I am new investor and plan to start invest in Rochester rental property. I plan to purchase 2 to 3 property this year, and ideally in C/D class area. Is there any area recommended with low criminal rate and reasonable ROI?

If you have recommended rental property management company and agent, that will be great.

I am also thinking the efficient way to purchase the property, should I use all cash to purchase them first, then wait later to do the refinance for several properties together to save my credit score and cost? 

Thanks in advance.

Jim.

I invest only out of state and live in So Cal as well.

I'd love to help you with getting set up out of state and growing your portfolio out there.

Shoot me a private message and we can chat more.

To answer your question - you should not use cash. you should finance right off the bat. 

D class neighborhoods will have crime. You want to stay in the C or B neighborhoods with low crime and you should be looking for a 10% cap rate ish. 

I own and manage 17 units in c/d class neighborhoods.  I find it has been pretty simple.  I also work full time.  So far so good.

@Jim Lopez , I am in the same boat as you; I want to invest OOS for cash flow. I live in San Diego but previously lived in Rochester and still travel back to ROC quarterly because my employer is headquartered there. Rochester is one of the top cities I am considering investing in. I would love to connect with you. 

@Antoine Martel , if your offer is not exclusive to Jim, I would also love to chat with you and hear how you have built your OOS success. 

@Martin Grizzanti , we recently connected through BP and I will be in Rochester this upcoming week. Would love to grab a coffee with you on Wednesday or Thursday and hear your story. Hopefully it is too cold.... I can't believe how quickly I've gone soft since moving to SD last June :)

Originally posted by @Tim Coulter :

@Jim Lopez , I am in the same boat as you; I want to invest OOS for cash flow. I live in San Diego but previously lived in Rochester and still travel back to ROC quarterly because my employer is headquartered there. Rochester is one of the top cities I am considering investing in. I would love to connect with you. 

@Antoine Martel, if your offer is not exclusive to Jim, I would also love to chat with you and hear how you have built your OOS success. 

@Martin Grizzanti , we recently connected through BP and I will be in Rochester this upcoming week. Would love to grab a coffee with you on Wednesday or Thursday and hear your story. Hopefully it is too cold.... I can't believe how quickly I've gone soft since moving to SD last June :)

 Shoot me a DM and let's talk!

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