All Forum Posts by: Cerwin Haynes

hey Daniel, I'm curious as to how you come up with the letter grades/ratings in the Syracuse area? I once called the city planning office and they told me they dont have neighborhood ratings (i.e. NYC).

hey Cory that's not fair, lol. I grew up in and right outside NYC and I say "yall". Its all in the accent and enunciation...

Oh boy.

I've been a bit out the loop while getting myself settled in here in LA. What about in inner-city Syracuse in areas not SU or Eastwood? Has inventory dried up a lot too (Northside, Westside in particular)?

I got one I used,  Daniel,  and shes a friend. PM me for her info.

Well hello all. I'm from in and outside nyc. I've been back and forth living in syracuse over the past decade, and last year i finally jumped into the REI realm by buying a two- unit as a owner occupant. (Steve B... i lived in the Albany area too (2005-2008)). I would definitely suggest the Syracuse market, but you would need to really study it and make a couple trips up there to get a lay of the land. Lots of out of area owners within the city limits, and in my opinion, too many that didnt do their homework enough to know that older houses need a bit more attention/upkeep.

Thanks everyone.

My gf let me know just now that she's got significant debtors she wants to pay off before she wants to buy. So I'll continue on my Plan A: build up a maintenace reserve to then go after Cuse property #2 and/or find a partner to help.

Hello Nicole. I'm just starting out in REI myself. I bought a 2-unit that I occupy in Syracuse, NY, and I've been able to increase my rental income due to some househacking. I embrace the learning process of being a landlord because every step of learning will make it easier for my next deal, and the deal after that... all the way until I'm able to quit my job and have my financial freedom.

Now, maybe the buy and hold method doesn't personally suit you, and that's what you're learning. It's all good: there's several strategies of REI that may suit you better. And at least you can say you did it, though, which is more than what a lot of people who stood on the sidelines can say. So sell the house, stack your paper and take time to be educated on the other REI strategies.

I agree with then other posters that you absolutely should not upgrade that basement... unless you know for certain you can recoup it and then some when you sell the house. I wish my tenants would try to ask me to revamp/finish my basement (many aren't here in Syracuse) because it's cold, and your house's basement looks a helluva lot more neater/cleaner than mine's. You'll find that many tenants are under-educated in how certain things work with a house, and the suggestion about insulating the basement door another poster made makes total sense.

Thanks for the input! 

I almost pursued a 203k in 2014 on what I thought was a 3-unit in the Cuse. Deal fell through because the house was found to legally only be a 2-unit.

Yes I enjoy cash flow. It's the best way I see myself building upon my income so one day I can kiss this job I have goodbye and really pursue life.