All Forum Posts by: Naftali Freedman

I agree with that investor. Start small. In Rochester it is very easy to get into real estate with not a lot of capital.

What about a house at about 30k? It won't bring you much, but may be enough to start building your portfolio. Maybe get a fixer-upper. You can find a lot in very cheap prices and just put in the work.

I would love to get this property, but it is a bit out of my price range. Maybe in about a year I can trade my current holdings to something this size. However, If anyone wants to partner in on this deal, it may be an option. 

Mark - I love the picture. It adds a lot of character to the house.

I bought my tile in the tile shop on Jefferson. Right next to it there is a "Bargain Outlet" store.

We also came from Queens, NY (Far Rockaway).

When we visited Rochester the first time, we were annoyed we didn't move here years ago. Now we own a house here for ourselves and a few more for investments.

Rochester has its charm. I chat with local people that don't appreciate it enough. Every time I explore new houses to purchase, I am just amazed with the history and the verity this place has. 

Welcome Garth!

I am also somewhat of a newbie in Rochester and real estate, but already got my feet wet.

What I like about Rochester is that it is stable and with many interesting options. So far I bought an investment house in Brighton, and 2 in Rochester. I am now closing on a property in Rochester that needs a complete rehab, and once I get into that project I can share my experience. 

I don't think Rochester is the best area for a flip. The price ranges here are not as wide as CA or NYC. When I watch TV shows where they buy a house for 400k, put 80k in it and sell for 550k, they can make some profit. but in Rochester, houses are cheaper, so if it needs a big rehab it may not leave enough for a quick flip. The house I am going to do a rehab will be designed to use for a rental. So I can make my costs back over the years.

Great schools - You mean Universities and collages. Not k-12. In Rochester those get very poor grades. So you have to take that in consideration if you are investing in a property targeted at families. 

I did both. I bought 3 homes (2 in Rochester, 1 in Brighton), that only needed me to change the locks and install smoke detectors (and a few more minor stuff). But those homes cost me over 150k each. 

Now I am working on a house that is a complete rehab. Asking price was 30k, and I got it for less. But it needs 60-80k of work into it to get it in 6-12 months  ready for rent.  I saw a few in that area for prices of 30-60k, and they need a lot of work. Also these houses are less targeted at students and more section 8.

So you need to figure out how much you want to put in to buy the house, how much you can afford in rehab costs. and how long you can wait until the house is ready for rent.

I now have 2 houses in Strong, and about to close on my first 19th ward house. I am looking for more houses in the 19th Ward.

The areas you put give you a big range of prices, and a variety of potential customers. What type of customers are you looking for? For example, I have a house in Brighton that is targeted for families. It is a nice area in a great school district. My houses in Strong are perfect for students who go to the U of R. 

Each of the areas have different price ranges. You can buy a house at 30k that needs rehab or a house that is perfect in a nice area for 150k. 

So you need to focus on your budget, target audience, amount of rehab needed and so on, and that will help you find areas that you are more comfortable with.

Hi Nikki,

What type of investments are you looking for? I found in Rochester a few different markets, each has advantages and disadvantages. 

Derrick - Rochester is a bit more then 4-5 hours from the city. More like 6-7, depends on the drive.

I am invested in Rochester and I like the market here. I have single homes, but also thinking about multiple family houses. 

@Chiagozie Fawole welcome to Rochester!

I moved here almost 2 years ago, and the real estate market here is amazing. So far I am working on purchasing houses #4 and #5 and it is so much fun.

a 12-unit? that is my dream. So I tip my hat for your accomplishment. Congrats on your success!