Rental Property Investor · Albany, NY · Member since 2021 · 7 posts · 1 vote
My husband and I are new to real estate investment. We currently live in Poughkeepsie NY but are looking to move back up to the Capital Region. We've been looking at properties in Troy to do an FHA loan on. I don't know much about Albany, but would be open to investing there. Anyone have any recommendations on Troy vs Albany?
@Katherine Tilley House hacking with an FHA loan is the way to go to get into real estate investing. Each city has their own positives and negatives. If you are going to owner-occupy, I say it really depends where you find a house that you like better. The second part to determine is your budget. You can find similarly prices homes in each city as they are only a few miles from each other. Other local cities like Rensselaer and Watervliet are nearby and have a strong rental market and many owner-occupy multi-family. Each city will have their own nuances when it comes to rental units, code enforcement, and other tenant regulations. I am an agent just outside of Troy and work in all the the cities listed. Feel free to reach out if I can be of assistance.
@Katherine Tilley House hacking with an FHA loan is the way to go to get into real estate investing. Each city has their own positives and negatives. If you are going to owner-occupy, I say it really depends where you find a house that you like better. The second part to determine is your budget. You can find similarly prices homes in each city as they are only a few miles from each other. Other local cities like Rensselaer and Watervliet are nearby and have a strong rental market and many owner-occupy multi-family. Each city will have their own nuances when it comes to rental units, code enforcement, and other tenant regulations. I am an agent just outside of Troy and work in all the the cities listed. Feel free to reach out if I can be of assistance.
If you haven't heard this episode of BP Money it touches on househacking in Troy. I don't really know enough to compare the two markets properly, but having house hacked I would definitely account for your personal preferences!