All Forum Posts by: Jacob Lea-Kelly

Hey @Raju T.

Ways to find properties are: Wholesalers, property managers, MLS, and foreclosure auction. All of them have their risks and rewards. If you have any particular questions about the Buffalo Market, fire away!

Hey @Adam G.,

Welcome to the community. Buffalo is a good place to be for real estate. What kind of investments are you looking for?

Thanks @David Niles! Message me your availability when you get a chance and we can talk.

Any local investors (Buffalo, NY area) have recommendations for a reliable, reasonably priced, experienced interior remodeling company or individual? Looking for drywall, floors, ceilings, window replacement, etc. Any leads would be appreciated!

Hey Amit,

Buffalo is a great place to invest from downstate. My family and I moved from NYC to Buffalo three years ago in order to be more hands on investors and we haven't looked back. Not to say you should move here but for investments, it's tough to beat. There are many areas gentrifying with houses that have been taken care of a houses the have been neglected for years so due diligence is very very important but there are great deals out there. The areas I like to focus on for myself and for our clients are areas where we are seeing appreciation and good returns. The areas that come to mind are the lower west side, the west side, the near east, and parts of South Buffalo.

Let me know if you have any specific questions and I would be happy to discuss them with you.

Hey Michael,

Buffalo is seeing a lot of growth and is a great place to invest in multi-families. There is an issue with houses containing a lot of deferred maintenance. You just have perform your due diligence and know what you are looking for which it sounds like you do. 

There are three main schools in Buffalo. University of Buffalo (UB), Buffalo State, and Canisius College.  UB has a north and south campus with the north campus in the suburb of Amherst and the south campus on north main street. Buffalo State is located close to downtown and in Elmwood Village. Canisius College is on the east side of Buffalo next to Main Street.

Each school has it's own territory with UB having two (one for north and south campus).

Most real estate investors who focus on the college market focus on UB South campus and the area around canisius. Right now on the MLS, there are several properties in these areas that would meet your criteria that either need some work or are rental ready and fit within your budget.

Let me know if I can be of any assistance or if you have some specific questions. We are a licensed broker as well as run a full service property management business with plenty of contractor connections. 

Good Luck!

Hey Tim,

Buffalo is seeing a lot of growth and is a great place to invest in multi-families. There is an issue with houses containing a lot of deferred maintenance issues. You just have perform your due diligence and know what you are looking for. 

There are three main schools in Buffalo. University of Buffalo which has a north and south campus, Buffalo State located close to downtown and in Elmwood Village, and Canisius College which is on the east side of Buffalo next to Main Street.

Each school has it's own territory with UB having two (one each for north and south campus). 

Most real estate investors who focus on the college market focus on UB South campus and the area around canisius. Right now on the MLS, there are several properties in these areas.

Let me know if I can be of any assistance. We are a licensed broker as well as run a property management business so I know the area pretty well. 

Good Luck!

Hey @Thomas Stackpole and @Cuneyt Unar, I live in Buffalo, invest in real estate, and do property management and from what I am seeing, the market is good right now. There is high demand and low supply which is driving up prices but also makes sellers very picky about who they are accepting offers from. Cash being the best bet to win a bidding war. This is also having the effect of sellers with sub-par properties pricing in appreciation. 

In regards to East Amherst, Williamsville, and Clarence specifically Tom, those areas are mostly higher end single family homes but there are some multi-family there as well. Those areas are good for flips and foreclosures. 

Cuneyt, What are you specifically looking for in terms of investments, Buffalo has pretty much everything.

That is kind of the problem @Brian Linton. Under normal market conditions, you would see exactly that and there are those deals around. But for a lot of people putting their properties on the market, they see what other people are paying and want something similar even though their maintenance has been delayed. But there are reasonable prices out there and there are deals, it just takes some legwork to find them. That's why Mark stressed due diligence because you want to make sure you are getting what you are paying for. 

Personally I love getting places that are undervalued and put some work into them and bring them up to my standard but it's sometimes hard to find them. 

No worries @Brian Linton, everyone starts somewhere and there are certainly things that I am still learning about.  I'm more skeptical of the people who claim to know everything.

I don't want to speak for @Mark Updegraff but what I think he is referring to is that the maintenance for the property (mechanics, roof, flooring, etc) has been neglected in the past in order to increase profits. So when the landlord is selling, the buyer gets a home that needs a lot of work to make it functional again. A lot of landlords in this area run properties into the ground. This is most likely because the area was so depressed for such a long time that there was no economic incentive to renovate. 

If you have any other questions, let me know.