All Forum Posts by: Zachary Johnson

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $230,000
Cash invested: $5,000

3 bedroom, 2 bathroom

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $230,000
Cash invested: $5,000

3 bedroom, 2 bathroom

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $230,000
Cash invested: $5,000

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $23,500
Cash invested: $5,000

Single family in C area.

Rent to price ratios are excellent in Syracuse. If cashflow is your thing there are few cities that are better. However, I agree that it is surprising that it made the list for "rent growth". Especially with the eviction moratorium.  

Ultimately, the appraiser is going to use a sales comparison approach as well as an income approach. Income can really drive that ARV. I've purchased places in C areas that have appraised for a lot more than they should because the rents justify it. Hope this helps and best of luck!

The answer to your questions are different for everybody. Investors have different preferences and are at different points in their life. I prefer cash flow heavy singles and 1-4 units in C neighborhoods. If I was in my 40's or 50's I'm sure my strategy would be much different. I wouldn't want all of the headaches so maybe I transition to a better neighborhoods and do 15 year notes instead of 30 and focus more on principle pay down. I would highly recommend finding a realtor in your area who works with investment properties and can answer specific questions. Make sure they work with investors! Realtors who sell "dream homes" typically don't know anything about investment properties. Hope this helps and good luck! 

It's definitely a C. I anticipate high maintenance and management costs.  

Still a very strong sellers market here in Syracuse. I've lost a few listings due to the virus and a few buyers have backed out but most people don't seem bothered. I am also an investor and have had several tenants warn me that they will be unable to pay rent. I'm not well versed in the health risks associated with it but I know it's doing massive damage to the local economy. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Syracuse.

Purchase price: $38,000
Cash invested: $38,000
Sale price: $38,000

This duplex will be rented out for $800 plus utilities per side.

What made you interested in investing in this type of deal?

The numbers were too good to pass up.

How did you find this deal and how did you negotiate it?

A client of mine

How did you finance this deal?

I paid cash

How did you add value to the deal?

By fixing plumbing, flooring and the forced air unit.