All Forum Posts by: Lawrence Maffucci

Although Albany isn't a utopia either from what I've read on here even

Poughkeepsie had deals that meets your criteria last time I looked I only have the realtor and Zillow stats though no Mls access I would bet newburg has the cheapest but it also has the highest crime, lowest income and the most horror story's from landlords .

Hello welcome, I wouldn't guess that Albany has any specific advantage over any other city along the Hudson River . A lot of them have low property prices and decent rental markets but there is some down side. also markets like Poughkeepsie beacon and Newburg are a lot closer to you. I live at least 2 hours north of the city and Albany is another hour and half north of me. If you want invest along the river I would generally say keep it south with the exception of Albany, although an agent would have specifics on each area.

welcome to bp ! congrats on putting your plan to action. best of luck 

material and labor costs 

welcome, 

Kingston is very local to me.  I'm just across the river, I have been analyzing deals for a few months now, a few in Kingston and a lot of surrounding areas. Sadly I can say the margins have been small except for a few forclosures out in the "sticks". I've been expanding my searches, but I can also tell you as a contractor that prices seem to be very high compared to what a lot of people say they pay on other parts of the country. For example  j Scott's book on estimating rehab costs is great but I think almost everything is multiplied by bare minimum 1.5 sometimes maybe 3.

that's odd its all connected really and the fact that the sink made it drain. keep an eye on it consider finding a handyman with a snake  and have him on call. there's a chance that if you fix the seal and the drain is the problem that the drain will blow the seal again.

Are they having problems with the tub or shower? sounds like a drain issue.

That's basically spot on what I was thinking. The houses are still worth owning but there may not be the competition for them if there was the same house out side of city regulations. Still, the desire from other people to want to live there maybe leading to a higher end rentals or flips that someone might shy away from if they didn't know how to work  with the regulations. Thanks again for the input @Rob Laub each comment has been extremely thought provoking.

@Rob Laub That has been my experience as well. Contrary to being in the north east it's a bit like the Wild West. From what I can tell there's is no state wide contractors license like other states have. There is one for the city I believe and maybe for other justifications. A lot of times on the older towns along the Hudon river its historical boards making the decisions. Thanks you for brining that up,I will have to consider this more before I even know what  to make of it.    Edit: I wonder if those regulations make the places less desirable to own. I'm sure the areas are still desirable to live in though.