Albany vs Syracuse Markets

[Chris Ferreira]

Hi Everyone,

I'm looking to invest south of the border and the two biggest markets that are closest to me are Syracuse and Albany. I noticed that Syracuse is alot less expensive than Albany, but Albany seems to be more stable with slight population growth. My intent is do BRRR deals and was wondering which is a better market for this? I would appreciate any insight you may have on these two markets. Thanks

[Patrick DiDomenico]

I don't know Albany, but the deals in Syracuse are drying up - presumably because out-of-towners (no offense - I grew up there, but am now an out-of towner myself) are coming in buying properties at too-high prices. And according to a Syracuse RE lawyer I know, they run for the hills when they realize what they have gotten themselves into. Syracuse has/had some good opportunities, but the market is not for the faint of heart.