All Forum Posts by: Mark Updegraff

Rochester is an incredible investment market.  IMO the supply of tenants is our biggest boon compared to other markets.  Looking at rates of acquisition & rental are not the only consideration.  In practice, a solid pool of tenants has a lot of value.    I invest in other markets with similar acquisition cost and rental rates and Rochester still outperforms due to this factor.  The difference is significant!  

Get a nice discount on this pocket listing.  Brokers protected, bring buyers.  Open Showing on Southwedge duplex.  New re-roof.  New exterior repaint.  Vinyl windows up, original windows down.  Older mechanicals, bruce hardwoods throughout.  Off street parking.  Month to month tenants.  Upper to be provided vacant.  Lower current rented at 825, which should be higher.

First 150k takes it. If not sold on Thursday will go to MLS for bidding war following Monday.

PM me to schedule.

Maybe it isn't the "mini mart" that is the problem, rather the operator of the mini mart.  We had a similar situation.  Solution: Get a better operator!  The new mini mart owner is a dream to work with, and he has turned around the quality of traffic by operating above the board.

Hope that helps!

Welcome @Dustin Figenscher !  

What did you buy last August?  How has it performed for you?  Would love to see the numbers if you don't mind sharing.

Cheers!

Mark

If you're looking to get your NYS salesperson license, we're offering the 72 hours course this fall for FREE.  If you're interested please PM me for more information.  

Who is the broker of record for your company?  I don't see you or Dimensions at the NY department of state holding the necessary license to manage property.

Yes, it is a gorgeous listing.  I have it posted on the BP marketplace and can send a pro forma to anyone interested.  We have 4 offers are are close to terms with one of them.  If you would like to see it you shouldn't delay.  

Cheers!

Mark

Let us ponder the allure in this 1880's sitting area.  East End Rochester NY!

check groupon for real estate license and you can get it done on the cheap ($80-100).  Then jump into the field with both feet.  I remember walking out of my sponsoring broker's office and saying 

"Now it's time to go out and get some pre-qualifications!"   

Be ready to put in some serious effort, but if you do, you'll most definitely be successful!!  

link to property details

9 unit investment property with completely separated utilities.  Rare opportunity for those seeking the best product in Rochester's most exclusive neighborhood.  Historic 26 Portsmouth Terrace 14607 was converted into 9 units very tastefully.  From what I can tell, there were no renovations to the layout in of the home.  Current rents are significantly below market due to long time owner / manager.   Tenants are well vetted and all get along with each other.  Most have been residents for many years.  9 parking spaces, lots of porches and decks.  Tons of character, and very impressive common areas.  Owner has taken excellent care of the property with many recent renovations (new roof, rebuilding porches etc).  Please PM me for a copy of the pro forma.