All Forum Posts by: David MacClintock

i think you're suffering from under-analysis paralysis. 224-6 is 218 not 230

If management is a concern, you could sell it owner finance and limit the impact of your gains. I'm going to offer to buy it from you, owner finance preferred, but if someone offers you better than I can, I'm glad I pushed you toward the most successful direction. PM me, I'm very active in the Capital Region and would love to help even if the solution doesn't involve me. 

I run a baseball air bnb in Oneonta. Market is getting crazy saturated now. Cobleskill has better vacancy than what youre projecting if you house is in anything close to nice condition.

where in the capital region? I have an absolute shark I can pass along to you.

Not my investment area but I'm pretty familiar with oxford. What do you want to know

I'm in Oneonta and I remove furnaces and go all electric. I don't even mention it and no-one asks. I insulate the heck out of my rehabs and work hard on air intrusions though.

They are VERY similar markets, with the exception of Ithica. Buffalo, ROC, Niagra, Syracuse, Utica and Binghamton are functionally the same investments. You are looking at aging populations, housing stock built largely before 1970, similar demographics with concentrated poverty in most of the urban core and money in the 2nd ring burbs. I can take most of my Rochester area research and apply it toward any of the other cities. 

How far north are you willing to go? Kingston is trying hard to revitalize, Catskill has great returns on c grade properties, liberty has really great rental returns and climbing with the employment jump from the Monticello casino. Don't bank on that lasting though. If you are into vacation rentals instead, with a bit more risk and much higher returns the Catskills are littered with cheap houses for rehab that can bring 25k+ a year in income. All depends on your goals and willingness to head a touch further north.

Upstate is fine. Schenectady is awful. Look into the rules they have regarding rental certificates. They had a code enforcement officer kill people a few years back and things are not ok since.