All Forum Posts by: Justin Rickson

I would call a restoration company see if they have any methods other than a full gut that may work.

Andrew Baisley

I haven't had too hard of a time finding quality tenants. I have one unit in Troy that gets filled within a month when vacant usually . The one I have in Albany is by the college area so I have learned the hard way the importance of timing. If timed right you can find a good tenant reasonably. If not your stuck waiting. For the most part you end up getting students or undesirable candidates. Just have to be a little patient, I have great tenants currently. Not true in all areas of Albany, each neighborhood is unique.

If your interested in rentals I would start off by buying an owner occupied rental(duplex, three fam, 4 plex), if finances and your local market allow. You can get in with lower down payments by financing FHA. My first 3 family I bought this way and I think I had about $5-7k of my own money on a $110k purchase.

How are the city areas of buffalo? I have only heard negative. Can you get good quality tenants? Are the neighborhoods clean?

Hey everyone, I am investing in and a little north of Albany . You can get properties up here with decent cash flow. I agree with Nick that some cities taxes are heavy while a neighboring areas are reasonable.

Joseph, I don't know if I am sold on the collections company idea.I once had a company evict a tenant for me who did collections as well. The tenant was similar to yours no job and nothing to really go after(tax return , pay check,etc)They filed judgements and everything. That was four years + ago still haven't seen a dime. So, in my case it ended up just being an extra cost. You may be just as well off with small claims. Best of luck

Chris, you may wanto consider buying a multi- fam or duplex and living in one of the units, if possible in your area I don't know what's available there . This would make it so you could get into a building for 3% with a FHA loan, and your not paying for someone else's investment by renting . Then you wouldn't have to tie up all your money in one deal. Just a thought - good luck

Welcome Devon! I am from upstate as well(troy). Best of luck !

I agree with Andrea, ask to review the current lease. I would also be prepared to find a new tenant just incase. I bought a property rented with "great tenants", and turned out they were dead beats that I had to evict. Best of luck!

Fernando, there is its albanyinaction.com I am actually looking at joining myself