All Forum Posts by: Edward Yglesia
Edward Yglesia has started 1 posts and replied 6 times.
Quote from @Jennifer Hoover:
Hey Edward, I agree with everyone else about being cautious in a market that you are not familiar with... It is a VERY different playbook in smaller upstate regions than it is Downstate. That being said, I'm from here (Utica) and I'm an active, licensed agent here, AND I invest heavily in this area and own several properties and rentals here. It's absolutely a great market with far more accessible pricing than other regions in New York. There are definitely deals to be had that not only cash flow well but in my opinion also move you into an equity position much faster because of the lower prices and the fairly consistent appreciation. We also have a lot of industry coming in to the area (Google Rome NY, Cree, microchip plant, or new Utica hospital to get a feel). Please reach out to me anytime if you have specific properties you want to get a local agent's eyes on, I'm happy to weigh in or take a look. Happy investing!
Jennifer thank you so much for the feedback, this is great to hear and definitely gives me a better feel about the area and it’s future plans and yes I would definitely like to speak more about it and see what we can figure out, I’ll also be visiting the area this upcoming month so we’ll stay in contact, thanks again!
Thanks for the feedback Nate, much appreciated
Yes I agree with Nathan 100 percent as well, and I did noticed that just by going a few blocks away from where I would like to invest the area does change much more so I’m only looking around the few colleges in the area and hospitals they have over there and also groceries stores and other things like that!
Quote from @Nathan Gesner:
Quote from @Edward Yglesia:
Hey guys so I’m pretty new to this, I been trying to buy a rental property for about a year now and it’s been nearly impossible in this crazy market and I’m also based on Long Island which definitely doesn’t help so for the passed six or so weeks I been looking upstate, Utica to be exact, I been to the area a few times and properties are much cheaper over there specially multi families and the numbers seem to workout much better for me, would love to hear some feedback and see what you guys think even if you don’t live in the area. Thanks!
Hey Nathan thank you for your deed back and I’ve looked into the percentages of how many people own or rent over in the area and the rent percentage is higher and I’ve also looked how much the rent is for the types of properties I’m looking into but how do you determine what class a property is besides these factors and what’s around the area? Again, thank you
Quote from @Nathan Gesner:
Quote from @Edward Yglesia:
Hey guys so I’m pretty new to this, I been trying to buy a rental property for about a year now and it’s been nearly impossible in this crazy market and I’m also based on Long Island which definitely doesn’t help so for the passed six or so weeks I been looking upstate, Utica to be exact, I been to the area a few times and properties are much cheaper over there specially multi families and the numbers seem to workout much better for me, would love to hear some feedback and see what you guys think even if you don’t live in the area. Thanks!
Hey guys so I’m pretty new to this, I been trying to buy a rental property for about a year now and it’s been nearly impossible in this crazy market and I’m also based on Long Island which definitely doesn’t help so for the passed six or so weeks I been looking upstate, Utica to be exact, I been to the area a few times and properties are much cheaper over there specially multi families and the numbers seem to workout much better for me, would love to hear some feedback and see what you guys think even if you don’t live in the area. Thanks!