All Forum Posts by: Joel Barron

Joel and Don, being that you're software developers, I'm curious to hear your take on the whole "Tech Valley" thing. I've read a bit about this some and interested to see if there is some real momentum behind it. Any insider thoughts?  

Joel, sorry to hear about your narrow miss! I'm curious, where was this property you end up putting in a bid on? I was reading the other thread you started where people were discussing some different areas around Albany/Troy. And what was the price point (if you don't mind me asking)? I've been eyeballing Albany from afar (grew up there) but curious to hear what kinds of numbers it takes to make a deal there work. 

Hello, 

Another Albany native here, Pine Hills is not likely where you want to move your wife into if your concerned about "live-ability" Your really going to want to look more into the New Scotland areas, Pine Hills(Madison Ave area) has unfortunately gotten significantly rougher and can get a bit rowdy when College is in full swing. 

Unfortunately the 2-family price point from Pine Hills to New Scotland jumps a good 50-75k making them alot less profitable but a much better area, Hug AMC as best as you can on the west side for the best shot at the best tenants.

Also if you didn't know when your running your numbers Albany JUST passed a new garbage fee.  Add $180/y per every unit over a single family. 

I Have 2 2-families in Albany and manage 3 more so I'm pretty involved in the area, Feel free to reach out if I can help at all.

Joel I'm glad I stumbled upon this post. I've also wanted to get involved in a RE tech (personally thinking more open source) product but I'm not sure what would be truly useful for seasoned investors. I'm a backend (Ruby on Rails) and iOS developer, I would love to contribute to a project if you come up with an interesting idea.

Hey Joel, 

Our stories are quite similar, I'm a software dev looking to buy my first multi-fam in albany as well!

I wouldn't mind comparing notes with another person, as I'm sure we are going to be viewing a lot of the same houses. For example I inspected 4 (disappointing) houses last weekend and could probably save you a bit of time!

Hey Joel,

I'm right across the river in Albany. There are a fair amount of duplex opportunities in Albany and all you have to do is shoot across the bridge to the train. Not sure what involvement you want on the management end, but with UAlbany and St. Rose, there is a decent demand for student rentals which could cash flow pretty well.

I am an attorney from Albany and I invest in real estate on the side.  I think you will find the Capitol region a great place to invest in real estate.  The properties cash flow really well.  I prefer Troy, NY for my rentals as the prices are reasonable and that area is slowly improving.  I never have an issue finding tenants.  Troy is approximately 15 minutes from the train station.  However, if you want to be closer to the train Rensselaer could work well since you'd be right by the train station.

I haven't run through the market in a couple of years....but there are always deals in albany and troy...schenectady...that whole area.  Have you looked into doing a 203 loan and getting a triplex or a quad.  Perfect way to buy for owner occupied.  I've looked at taking myrentedroom up there as I grew up in the area and have a ton of friends there.  There are still some really cheap places to be had..problem is....for me....the taxes are a killer up there!

welcome to BP @Joel Barron  

At least you are at the point where you can spot a good deal. Now it will just be a matter of time before you land a deal. Every investor goes through a similar learning curve. 

Best of luck!

By the way, I am jealous you live closer than me to Saratoga race track. I love that place!

There are a ton of decent deals in that whole area.  You might want to look a bit further north in south glens falls, hudson fall and fort edward.  Probably wind up with welfare rental but they cashflow all day long.....luck!