New to Real Estate · Albany, NY · Member since 2020 · 35 posts · 9 votes
"NY is both landlord and tax unfriendly" - investor
SCENARIO: 25 y/o, wants to buy and hold MFRs in great school districts, looking to start journey QUESTION: What are the best and worst features of Capital District NY for a real estate investor?
If you have made up your mind to invest in nys, capital region is decent because you can still, barely, find reasonably priced property that you can brrr and repeat. Cap rates are decent. And the area is getting some improvement.
But.
You can do Much better in so many other places. Ny is exceptionally tenant friendly. Moving towards socialism faster than the country. Prices, even in our affordable places are high. Taxes are ridiculous. And regulations are never ending.
You can make it anywhere if you choose a proper strategy, but nys makes it harder than most.