Syracuse new investor. Possible meet ups/advice?

8 Replies

Im new to real estate and i want to hit the ground running in multi-family homes and im looking for advice or maybe a few meet up to network. Im unsure if syracuse will be the best option for me or if i could start off instantly by going out of state.

@Toby Gingold mainly cash flow i believe i could do a house hack as well. But im not in a dire situation to have to do that at the moment. So i would like to maximize my cash flow so i can put it into more properties.

Hi Troy. Welcome to Bigger Pockets! There's a great meet-up that Rob Sawyer has organized. It happens the first Tuesday of every month from 7-9. Last month it was held at the Aloft Syracuse Inner Harbor. We have had it there and at Kelly's Restaurant as well. It's very informal and a great way to meet some other investors and just have some nice conversations regarding the investment market here. I'm sure he'll be posting soon about the April meet-up. Feel free to PM me, I'm always happy to talk about this market and real estate investing in general.

-get to know the market first for what you are interested in 

-find good broker(s) who can educate you on the market and forward you new listings 

I originally wanted to invest in multi in Syracuse but I've found that the single family properties are cash flowing better than multi at the moment if cash flow is your only goal. Be very weary of pricing on multi's in Syracuse, there is a lot of inventory right now that is overpriced - learn the current market. 

If I were from Syracuse originally I would feel much more comfortable investing there if I knew it better block by block. There are areas that yield good returns. I am very picky and patiently wait for good things to come around. 

I like Troy and other areas along the Hudson a bit more, but upstate NY in general is on the losing side of population growth. Everyone says landlord/tenant laws are tougher in NY and in favor of tenants so people like to focus elsewhere. If you have flexibility and are comfortable investing out of state, I would explore warmer areas or places with less crime but you need to have the right teams in place so start networking, finding brokers and begin conversations to start learning markets and getting listings forwarded to you that fit your criteria. I think investing in your local market is great because you can 'drive for dollars' and catch opportunities that long distance investors might miss, also word of mouth. Tell people you're looking to invest and see what comes your way!

Originally posted by @Jamie Heath :

Hi Troy. Welcome to Bigger Pockets! There's a great meet-up that Rob Sawyer has organized. It happens the first Tuesday of every month from 7-9. Last month it was held at the Aloft Syracuse Inner Harbor. We have had it there and at Kelly's Restaurant as well. It's very informal and a great way to meet some other investors and just have some nice conversations regarding the investment market here. I'm sure he'll be posting soon about the April meet-up. Feel free to PM me, I'm always happy to talk about this market and real estate investing in general.

 Is there a group/discussion for the meetup? I would like to join

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