Rochester rental property

12 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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@Tim Coulter I am in a similar situation as yourself.  I am from Rochester but now live out in Seattle.  After looking around here and struggling to find any deals I have turned my attention back to Rochester. I have several friends who have invested in Rochester but they are in state.  Would love to hear more about your experience with OOS investing there.  

@Antoine Martel if you have time I would love to hear how you got started with OOS investing and have made it successful.  

Best of luck rochester is a great market to build cashflow in. this past year has been tougher finding deals as so many investors have had their eye here but still great opportunities. Please feel free to reach out

Hey like @Martin Grizzanti and @Matt Harris I also invest and manage properties in C & D neighborhoods. It can get tricky but put processes in place and follow through. I manage properties for several
Investors out of CA. Word is we are a whole lot cheaper then the west coast. Not surprised lol. Good luck and reach out Plenty of deals to be had !

Originally posted by @Shane Dowling :

@Tim Coulter I am in a similar situation as yourself.  I am from Rochester but now live out in Seattle.  After looking around here and struggling to find any deals I have turned my attention back to Rochester. I have several friends who have invested in Rochester but they are in state.  Would love to hear more about your experience with OOS investing there.  

@Antoine Martel if you have time I would love to hear how you got started with OOS investing and have made it successful.  

 Shoot me an email or a direct message. I'd love to chat. 

Looks like i'm a little late in the game here, but i've just started researching into Rochester as a potential investment area (I grew up there although I now live and work in Northern California). I was wondering if anyone had anything specific about the Rochester market they liked or didn't like as they've been researching or investing? Are there specific pain points to watch out for? What are some of the benefits you've seen in the area?

Rochester is a great steady market. Lately it’s been super hot thanks to OOS investors lol. The rental market remains strong. I guess the question you may have to ask is what’s your tolerance level. If you can deal with the lower income housing that the returns are great but if not then I would suggest buying in a better areas surrounding the city which fetch decent returns but not as good as inner city.
I help several investors out of CA market who have invested here and are loving it. I can share some referrals if you like. Thanks and Good luck!!

There is a lot to like.  There are a few things that are a pain.  After 5 years of investing still learning.  good luck

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