Posted by Bob Eberle on April 28, 2007 at 07:04:09:
Phil,
Are you describing the Utica Rome area? Buffalo? You’re correct some of these areas are very depressed, however I live in the Capital Region of Albany and the Tech Valley is showing significant growth. MSN predicted this market would be one of the top 15 markets for real estate growth over the next 7 years. It is also an area that you purchase properties that will actually cash flow.
upstate new york - Posted by sherry renz
Posted by sherry renz on April 27, 2007 at 14:08:02:
I have heard from several investors about several areas in upstate new york that are greatly undervalued. One investor bought a single family for
$9,000, put $12,000 into it and is renting it for $650 per month. Please contact me if you know of areas upstate that are worth seeing. thanks, sherry 516-889-1966
Re: upstate new york - Posted by Chris
Posted by Chris on April 28, 2007 at 08:46:46:
yeah it’s like that here, you can buy a 4 unit for 60k and gross over 2k per month all day long. But it is depressed and EVERYONE is on some sort of welfare, so you have to deal with A LOT. Tenants that are more like children. If you are the type of person where things roll off your back, then you’ll be fine, but if you are a micromanager there are other ways to give yourself a nervous breakdown.
Re: upstate new york - Posted by phil fernandez
Posted by phil fernandez on April 27, 2007 at 19:30:04:
From what I hear it’s a very depressed area with no job growth. Nothing really going on there and it’s in the middle of nowhere. Long, cold bleak winters.