Rental Property Investor · Member since 2018 · 40 posts · 17 votes
Hi everyone! I have come across an off market deal in Cobleskill NY. I grew up in the area so i know its a very rural sleepy college town. As a result, I can't find a lot of information to help me with my due diligence research. My main concern is vacancy which is around 17%. I would like to avoid using it as a college rental as I don't plan to be in this area too long and don't want to deal with turn over year after year. I am not completely against it tho as Cooperstown isn't far away and it could be a potential lucrative summer AirBnB option for all the people that travel there for baseball.
All the numbers look good however my main concern is vacancy. If any Albany, Schenectady or Oneonta investors are familiar with the Cobleskill market, please give me some insight. This would be my first deal and i just don't want to make a stupid decision I'll regret.
I run a baseball air bnb in Oneonta. Market is getting crazy saturated now. Cobleskill has better vacancy than what youre projecting if you house is in anything close to nice condition.
I run a baseball air bnb in Oneonta. Market is getting crazy saturated now. Cobleskill has better vacancy than what youre projecting if you house is in anything close to nice condition.
I’m going to follow this discussion because I am very interested in any response/information that is provided on the Cooperstown baseball rental market.
@David MacClintock, would you please message me the link to your AirBnB listing. I want to check it out and pick your brain a bit.
Thanks @David MacClintock. What figure would you use for vacancy if you were running numbers for the area in Cobleskill? I did find another site that quoted 5% vacancy. So i have one site that says 17% and another that says 5%. Big difference and makes or breaks my calculations.
Also, do you know of any property managers in the area that are good? I can only pull up a few names with no reviews. Appreciate all the help!
Your name sounds familiar...if you went to Charlotte Valley, we may have crossed paths :P
Hi everyone! I have come across an off market deal in Cobleskill NY. I grew up in the area so i know its a very rural sleepy college town. As a result, I can't find a lot of information to help me with my due diligence research. My main concern is vacancy which is around 17%. I would like to avoid using it as a college rental as I don't plan to be in this area too long and don't want to deal with turn over year after year. I am not completely against it tho as Cooperstown isn't far away and it could be a potential lucrative summer AirBnB option for all the people that travel there for baseball.
All the numbers look good however my main concern is vacancy. If any Albany, Schenectady or Oneonta investors are familiar with the Cobleskill market, please give me some insight. This would be my first deal and i just don't want to make a stupid decision I'll regret.
Hey @Chad Quillopo, I didn't. After calling around, it was pretty evident that there were no property managers in the area. Its a deal breaker for me. I'm looking to scale a portfolio...managing the properties at a detailed level isn't part of that vision :P
@David MacClintock I went to college at SUCO. Basically all my friends want to invest and buy up their old off campus homes and rent them out to students, haha.