All Forum Posts by: Stephanie Jacobson

 Seneca Falls I'm not familiar enough with, but I have a couple clients with STRs there. Geneva has been talking about regulating STRs for a long time, so I tend to recommend away from it. 

 Hey Atif! As we discussed in text, I prefer markets like Trumansburg, Hector, Burdett, Ovid- places between Seneca and Cayuga Lakes near the wineries that have easy access to beaches and parks, and where it looks like zoning changes won't restrict STRs in the future. I'm interested to see what others say though!

 Tioga State Bank covers Ithaca, and they have some phenomenal rehab loan options. Rick Annunziata there is fun to work with and he knows his stuff. 

As far as hard money lenders, @Bob Reinhard might be able to help you out! Let him know I sent you if you reach out. 

Hi Adonna! Are you already under contract?

Is there something in your finances that would prevent a traditional commercial loan?

 Watkins is very seasonal. It gets super quiet over the winter. Same for the area that relies on the wineries, like Burdett/Hector. The closer you get to Ithaca, though, the less you're impacted by the weather, as parents are always visiting Cornell and IC, and the hotel prices here are outrageous. I do have one client who buys around Dryden and Cortland- on the other side of Cayuga Lake- to pick up business from Greek Peak resort in the wintertime.

Watkins is lovely, but it's essentially impossible to set up a new Airbnb there, thanks to their new restrictions. I have a few clients who buy around Watkins, though, or my favorite location, between Watkins and Ithaca on either lake. This is more Burdett, Hector, Ovid, Trumansburg. Actually, Trumansburg has become my favorite area for a finger lakes STR!

I'd be thrilled to help, feel free to reach out!

I'd love to meet some wholesalers in these areas too! My favorite two wholesalers in Bing aren't doing it any more.

I got a CIREC (commercial and investment real estate certified) designation which I think is specific to New York. Different states have different certifications like that, but as mentioned, CCIM is going to be the gold standard. 

Hi Amanda! There’s an investor meetup that @Kelly Skeval runs, see if you can get on her email list. It’s called Pints and Properties. I’d be happy to see more get togethers in ithaca though!

Hey Tim! I’m a commercial agent in Ithaca and would be happy to help you out with anything you need down this way. @Kelly Skeval also runs a networking group for investors in Ithaca, so give her a shout too!