Beginner no experience looking to start investing remotely in Syracuse, NY

Member since 2025 · 2 posts · 2 votes

I currently live in NYC and I'm looking to start owning real estate in Syracuse, NY for investment. Im interested with starting out with a duplex. Does anyone have any leads on a good real estate agent? And also any advice ro give a beginner?

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Kiernan LaFaver

Real Estate Agent · Central New York · Member since 2023 · 207 posts · 96 votes

9mo

Hey! I'm an agent in the Syracuse area, and specialize with buyers out of area/remote. Have worked with people from CA, NJ, NYC, and NJ. It's definitely a nuanced process that needs thorough communication from offer strategy to close and everything in between. It's a great market with plenty of opportunities, and many different neighborhoods to choose from. Cash flow tends to be the name of the game in the city compared to the suburbs. Would be more than happy to discuss what opportunities are available in the area!

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Kiernan LaFaver
Real Estate Agent · Central New York · Member since 2023 · 207 posts · 96 votes
9mo
Hey! I'm an agent in the Syracuse area, and specialize with buyers out of area/remote. Have worked with people from CA, NJ, NYC, and NJ. It's definitely a nuanced process that needs thorough communication from offer strategy to close and everything in between. It's a great market with plenty of opportunities, and many different neighborhoods to choose from. Cash flow tends to be the name of the game in the city compared to the suburbs. Would be more than happy to discuss what opportunities are available in the area!
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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 923 votes
9mo
@Ana S.
For someone starting out with little experience, you should also look into the Midwest. Entry costs are lower, cash flow is stronger, and it’s easier to build a portfolio remotely with the right local team in place. Duplexes and small multifamily properties there often make better starter investments compared to higher-priced markets like Syracuse.

[email protected]614-418-6081
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Andrew PostellPro Member
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
9mo
@Ana S. I see you have a good response already but you can certainly try the "Agents" link above in the blue toolbar. Now, as a 15 year, out-of-state investor (I also live in NYC) my recommendation is to ALWAYS choose whatever city you have the most trustworthy contacts in. Keep in mind that you may never see your asset. That's an ENOURMOUS amount of trust/money to put into a stranger's hands. What I mean here is that if you know someone in a different city...but that city may not have as good of numbers as this "other" city...then stick with the city where you know people. One wrong move, one wrong contractor, one wrong vendor…will erase any "benefit" one city has over another. Your network is the most important piece for any potential returns when you invest out of state.
Always here to help. Reach out any time.
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- Eric Van Laar
  Developer · PA · Member since 2021 · 13 posts · 5 votes
  8mo
  Quote from @Andrew Postell:
  
  @Ana S. I see you have a good response already but you can certainly try the "Agents" link above in the blue toolbar. Now, as a 15 year, out-of-state investor (I also live in NYC) my recommendation is to ALWAYS choose whatever city you have the most trustworthy contacts in. Keep in mind that you may never see your asset. That's an ENOURMOUS amount of trust/money to put into a stranger's hands. What I mean here is that if you know someone in a different city...but that city may not have as good of numbers as this "other" city...then stick with the city where you know people. One wrong move, one wrong contractor, one wrong vendor…will erase any "benefit" one city has over another. Your network is the most important piece for any potential returns when you invest out of state.
  Always here to help. Reach out any time.
  That makes a lot of sense. I’m just curious about that very first OOS market, though - back before you had a single contact. How did you actually pick the spot to start building? The map is so huge when you're starting from scratch; I'm wondering what made you plant your flag in one neighborhood over another.
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- Andrew PostellPro Member
  Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
  8mo
  Quote from @Eric Van Laar:
  
  Quote from @Andrew Postell:
  
  @Ana S. I see you have a good response already but you can certainly try the "Agents" link above in the blue toolbar. Now, as a 15 year, out-of-state investor (I also live in NYC) my recommendation is to ALWAYS choose whatever city you have the most trustworthy contacts in. Keep in mind that you may never see your asset. That's an ENOURMOUS amount of trust/money to put into a stranger's hands. What I mean here is that if you know someone in a different city...but that city may not have as good of numbers as this "other" city...then stick with the city where you know people. One wrong move, one wrong contractor, one wrong vendor…will erase any "benefit" one city has over another. Your network is the most important piece for any potential returns when you invest out of state.
  Always here to help. Reach out any time.
  That makes a lot of sense. I’m just curious about that very first OOS market, though - back before you had a single contact. How did you actually pick the spot to start building? The map is so huge when you're starting from scratch; I'm wondering what made you plant your flag in one neighborhood over another.
  
  Yup, so @Eric Van Laar one of the cities I was looking at initially was Jacksonville, Florida because of it's price points. I didn't have any money then so I had to target lower price points. So, those were the cities I was examining. Now, the properties I was looking at were in pretty tough neighborhoods so when I called property managers...none of them would even go to these neighborhoods! It wasn't a good sign. But then I remembered my college buddy who lived in Jacksonville, Florida and reach out to him. He introduced me to a great Property Manager that would manage properties in the Jacksonville neighborhood and that's where it started. My network provided me with the path to make it work. I didn't actually know this lesson then...I kind of got lucky. This was before the internet was really a thing. There was no Bigger Pockets then. A lot of us were just working blindly. But that's why I am always talking about networks. It's the most important piece to me.
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Andrea Hernandez
Member since 2025 · 18 posts · 8 votes
9mo
I am a fairly new investor myself and have been looking extensively at many parts of New York State.
What I have learned about Syracuse is that there is a strong market for student housing. It has its pros and cons, the biggest pro being the high demand, the cons being potential for more damage, having to manage multiple, separate tenants in one unit, and the potential for vacancy during the summer. It's definitely something I would recommend researching to see if its something you want to get into.
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- Stephanie JacobsonBusiness Member
  Real Estate Agent · Ithaca, NY · Member since 2016 · 427 posts · 323 votes
  9mo
  Quote from @Andrea Hernandez:
  
  I am a fairly new investor myself and have been looking extensively at many parts of New York State.
  What I have learned about Syracuse is that there is a strong market for student housing. It has its pros and cons, the biggest pro being the high demand, the cons being potential for more damage, having to manage multiple, separate tenants in one unit, and the potential for vacancy during the summer. It's definitely something I would recommend researching to see if its something you want to get into.
  
  I’m a student housing specialist covering central New York and I’ll tell you Syracuse doesn’t have nearly as strong a student housing market as Binghamton. People overlook Binghamton because it’s a lower income area, but the students really drive the marker there. Syracuse U requires freshmen and sophomores to live on campus, and the area where the students live off campus is limited to a few blocks comparatively. The barrier to entry in Syracuse is also really high at the moment for a new investor- I’d recommend checking out Binghamton or Cortland instead, as markets that are closer to downstate, financially accessible for a newer investor, and have a healthy student population.
  1 Reply
Kerlous TadresBusiness Member
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
9mo
I’d recommend getting referred to an investor-focused Syracuse agent through a local property manager and buying a clean, boring duplex that still cash flows after real taxes, insurance, vacancies, and repairs.
[email protected]614-490-1163
Kerlous Tadres | Reafco Real Estate540 Reviews
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Mohammed Rahman
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
8mo
Hi Ana,
It looks like you’ve already gotten some great responses and a few solid references here to get started. I’ve also heard really good things on this forum about David Greene’s Long-Distance Real Estate Investing from people who invest remotely. It’s definitely worth checking out if you haven’t already.
Wishing you the best of luck!
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Jared Cornell
Property Manager · Binghamton, NY · Member since 2017 · 5 posts · 1 vote
8mo
Hi Ana,
I currently have a complex in the Syracuse market, I would highly recommend focusing on the outskirts or specific municipalities. The city itself is incredibly difficult from a regulation and eviction perspective, so acquiring outside of the city courts itself can save you a great amount in lost rents.
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- Stephanie JacobsonBusiness Member
  Real Estate Agent · Ithaca, NY · Member since 2016 · 427 posts · 323 votes
  8mo
  Quote from @Jared Cornell:
  
  Hi Ana,
  I currently have a complex in the Syracuse market, I would highly recommend focusing on the outskirts or specific municipalities. The city itself is incredibly difficult from a regulation and eviction perspective, so acquiring outside of the city courts itself can save you a great amount in lost rents.
  
  Which are your favorite neighborhoods in the outskirts?
  0 Reply
Jared Cornell
Property Manager · Binghamton, NY · Member since 2017 · 5 posts · 1 vote
8mo
I’d say manlius, Dewitt, Baldwinsville, Cicero are all appealing to me.
1 Reply
- Stephanie JacobsonBusiness Member
  Real Estate Agent · Ithaca, NY · Member since 2016 · 427 posts · 323 votes
  8mo
  Quote from @Jared Cornell:
  I’d say manlius, Dewitt, Baldwinsville, Cicero are all appealing to me.
  
  That's great, thanks. I almost never see multifamily properties pop up in those areas.
  0 Reply
TriciaRae StancatoBusiness Member
Real Estate Broker · Jacksonville, FL · Member since 2023 · 13 posts · 7 votes
8mo
Hi Ana,
I am originally from Syracuse and live in Jacksonville, FL now. I chose to invest in Jax when we moved here instead of Syracuse because the property taxes there made it very difficult to cash flow like we could in Jacksonville. Many of the places where the duplexes are located in inside local Villages (Baldwinsville, Liverpool, Fayetteville, etc). There are additional village taxes in those areas. However if you can make something cash flow there, the rental market is strong, and appreciation has been steadily rising.
I also agree with what was said by others about the student market in Syracuse. I went to SU and they do require first two years on campus. The are around campus is tough to find a good area to invest if you are very familiar with each road.
Best of luck on your investment journey!
TriciaRae Stancato
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