What market would you suggest as a good bang for your buck at this point. Taxes and expected rental income are probably key factors, right?
There are a few factors that have to be considered. NB is a good area and I think you wont really see any depreciation in Home values there. I’m liking city of tonawanda more. Seems pretty hard to find decent apts over there by the people I know that are looking. yes there are some dumps but there are nice ones to be had too. Also there seems to be alot of pride in ownership around that area as there is with NB but the prices are alot lower.
Ill post a few up in a few that I can find for ya
[QUOTE=cougarspeed;3393454]I was hoping to get pm from you 
In the winter there were still some great deals to be had. I agree with the owner occupied and even as an investor non occupied at this point I am still only interested in nice properties that I will continue to maintain.
I’m really not too keen on living in a double still, but we really like the area and our neighbors are great. Not sure what were going to do but have no plans to leave at the moment.
http://realtyusa.com/property/property.asp?PRM_MLSNumber=411714&PRM_MlsName=BuffaloNY
There is one I would take a look at possibly after looking for a few mins. 88K means 80-85K. Brings in 1600 a mo. taxes are 300. Water 75 Ins 75. 15K down mortgage should be $600ish. Should clear $500 a mo+. Area is decent. Seems like alot of important upgrades, not just cosmetic ones. Will never go bad where it is. Keep building and buy the ones around you and control the area if youre that worried about it.
Where I like the comparison is that its 85K with 1600 a mo VS NB is 150+ and I know its not bringing in $3000 a mo.
Also this property is 60 seconds from the 290 which is a good selling point.
Just a quick observation.
I have ran the numbers plenty and for me this plan is not going to change.
Three things should be noted
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What I gain from a rental is not just looked at as how much goes in my pocket each month. EQUITY+Passive is my approach. I want to be able to sell off everything in 15-20 years and be setup quite well.
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I am only willing to manage 4 rentals MAX or should I say 8 units. I am not willing to burden myself any further.
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I live in and plan to remain in park meadow/north buffalo for many years to come so combined with 2. it makes it even more attractive.
So for me to build the most “wealth” it does make sense to go after high value areas.
I know you have done very well for yourself and I have much respect for ya but our approach is quite different and I am positive my plan does not need to change to satisfy what I am looking to accomplish right now. That is not to say things won’t change or I won’t consider taking on more properties again in a year or two either. If you want to chat about it further since we aer nerds who think about this stuff(and enjoy it) far too much shoot me a text and we can grab a few beers this week.
Thanks.
I’m free after 1130 lol. PM that is stupid engine plant.
HA I am working nights right now at the good ol cereal plant.
Both of your schedules suck. That said, my offer to buy beers or lunch still stands, but I have a new baby so my schedule is quite constricted as well.
Cheerios yummy!!!
Bump
Thought I had a deal but it doesn’t look to be going through.
$500 on a referral that I buy
Lets go!
“Nope, I’m poor” ha Fuuuuuuu.
Let me know if you come across any decent deals that you pass up on. I’m also in the market. Either Elmwood or Hertel.
The owner of this house is a very nice guy and he just moved to Florida. I think he would take around 130-140k. House needs lots of updating but isn’t bad. Updated in that location it would be worth 200ish. It is a great first home for someone looking to do some work and get some equity.
I am looking for something more turnkey as part of a “strategy/plan” I have right now. So this one isn’t quite for me.
Also rent on a fully updated 3br will see 950-1050 easy in the right location. But this is for something really updated and mint. Otherwise 750-900 depending on condition and location(big driver here)
---------- Post added at 12:51 PM ---------- Previous post was at 12:45 PM ----------
HAHA I AM!
FFS, no wonder I can’t find anything. Why’s everyone in the market for doubles now? A year or two ago it seemed like the market was flooded with em.
Don’t know. Bunch of fggts! lol
I was more interested in the city of tonawanda area which mistero had mentioned, but one of the problems with that area is that most of the houses are old as hell. Like, were built around the time of the civil war old. And I don’t have the know how or free cash to do major renovations on a place shortly after purchasing it.
200k and will bring in 2k a month? Wheres that’ ur doing it wrong’ caption. Well all investing is better then none, the ratio needs to be a tad better. I have one for 175k in tona city that bring in 3500/ mo. Util are 3-400/mo . Also have some cheaper rentals in Niagara falls(nice part near target/ airport)if someone is interested. Prob around 100k 2 single fams and a dbl. Should bring in over $2k a mo
D
Thread cleaned.
This thread is not for opinions.
If you have a lead please pm me.
Thanks!
Finally had an offer accepted on one. Siq
buy my single family?