@Matthew Zahn , I grew up in Dunkirk about 30 minutes from Jamestown.
What kind of opportunities are you looking for in Jamestown that you don't think you can find in the Buffalo area? Are you looking to flip homes or landlord or something else?
If you are doing BRRRR (Buy Rehab Rent Refinance Repeat), which is what I do, then you hot market isn't as much of an issue. Most people talk about how hot a market is in terms of live-able homes anyways.
So, the things you should care about are purchase price, rehab cost, ARV (after repair value) for refinancing, rental rates, and durability of the rental income (ability to readily find renters).
Are you planning to rehab in a hands on way? That is quite a hike to be hands-on with everything.
Ok that makes more sense now, thank you for that!
If I were to invest down in the Jamestown area, I would not do the rehab myself I would hire a contractor to do the work and then a property management company as well to manage the properties.
Is Jamestown profitable for the BRRR Strategy while having a good ability to find renters with the experiences you've had?
Hey Matt. I invest in Jamestown. Definitely a colder market than yours. There are not a lot of investors in my area, not a lot of primary home buyers which creates a good size opening for someone like me to invest. What interests you about Jamestown? I plan to continue to purchase buy and hold properties in this area because of the affordability and good tenant base.
Hi Josh - I just recently got an interesting deal in Jamestown for a 37 unit.
When I did some research on the county and city, I found the data on the tenant base showed me that this is not the right city for me.
However, you obviously know the area well, and you have positive comments. What am I missing here? What makes the tenant base and the city a good place to invest?
@Casey Rondinella I think we looked at the same 37 unit deal and was doing my initial due diligence. I was really surprised to find how hard it is to find a property management company in Jamestown Ny.
I didn’t even get that far. I imagine that it is super difficult. You bring up a fantastic point.
Facing the same issue, finding a property manager in Jamestown NY.. Anyone knows why it is difficult? Other areas its pretty simple to get this done.. Please help if anyone have any references of a property manager..
Google search Jamestown NY property management shows 6 companies in Jamestown.
We invest in Jamestown, would love to connect!
Not sure if you are interested but we have a flooring guy manage our properties in Jamestown. He does it for 8% where the other management companies were asking 15%. insane