All Forum Posts by: Desiny Smith

Hello Everyone—

My name is Desiny, I am new to the investing world. I currently live in NYC as I finish out my last few months of school before graduating. My plan is to start investing in the capital district of NY, since that is where I am most familiar with and grew up not too far from there. However, after about my third or fourth investment, and after gaining some experience, I would like to move back downstate. I have been to Jersey City a handful of times and believe it, as well as surrounding cities, has a lot to offer for investment purposes. With that said I also find it confusing, as one street can be nice but the next two or three streets over could be another story. 

I am hoping to connect with other investors in the area; veterans or newbies. Maybe I could help you with a rehab or send out direct mail for a day. I don't have a car, but I am more than willing to help anyway I can. My main goals are to begin to build relationships with other investors, agents, or people who aren't experienced in investing but may know the area, in addition to getting to know the market. I have a lot of energy and real estate investing is something that I am truly passionate about! 

I apologize for making this longer than it probably should be, but I wanted to give you all a proper background and my vision for the future. 

Thank you, and I look forward to making many connections along the way.

Best,

Desiny Smith

@Derek LamondeI'm not familiar with Newark, but I'm sure you can find grants that the city is offering for distressed homes. Especially if they're motivated to rejuvenate the city. 

@Daren H.They look amazing. Very nice, thank you for the tip. 

Hi @Derek Lamonde, I'm new to investing but Jersey City seems to have a lot of abandoned/foreclosed homes that the city is trying to get rid of. In addition to posting on BP, I would suggest calling several local real estate agents  to see what information you can get out of them. 

Best of luck!

@Kenneth CraycraftI'm so sorry for the late reply. I am just now seeing this. 

Saratoga is booming right now, but it would be harder for me to penetrate the market since house prices are through the roof. I would never cross it off of my list, but I just feel like for one property in Saratoga I could invest in two in the capital district. At least for start-up. I feel like the really amazing cash flow would be if I owned the property free and clear. 

Thanks @Steve B.! That gives me a good sense of direction to know where to start. Greatly appreciated.

@Tom Ottthank you for the warm welcome. I will be sure to reference you for help in the future. 

@Steve B.Very true. Are you familiar with any of the better parts of Watervliet or Cohoes? I am anxious to get home to drive around, since I haven't checked the areas out in a while. 

Also, do you have any properties in Schenectady? If so, how are they performing?

Thanks for the feedback I really appreciate it!

@Missy H.Thank you for your feedback. My aunt just bought a house on Sheridan Ave. The city is really trying to renovate that whole area, but that could take some time. So, for now I am focused on the college area. St.Rose is beautiful, please let me know how that works out. Also, are you finding a lot of places that need renovations and fixes before renting them out? And to what extent? Or are you going for turn key properties?

I am in the midst of compiling data on Albany, Troy, and Watervliet. I would be more than happy to share my findings with you.

@Ryan VienneauThank you! Yes, I have read a couple of articles that said some homeowners are paying anywhere from $2,500 -$6,000. This is insane, do you see rates changing even the slightest anytime soon?

Hey guys! 

My name is Desiny, I'm a senior in college just a few months from graduating (finally!). I live in NYC, but I grew up around Saratoga Springs in upstate NY. I would like for my first investment to be a buy and hold, as I plan on house hacking, and then get a couple of flips under my belt to build up my cash reserves.

Initially, I thought Albany, NY would be a good place to start off. I hear the Mayor is trying to turn things around there, but now I'm leaning more towards Waterford, NY. 

What do you all think? Opinions? Suggestions? 

Looking forward to making many connections. Cheers!