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Hello to all,
I just like to add that as that as an owner of 5 properties in Buffalo
for over a year I have a reasonable good idea of the property
market there. You definetely need to visit the city. I had the luck to get a real estate agent who steered me away from the ghettos, such as the East and West Side. She was happy to point out areas that were looked after, where you could purchase properties from $35,000. There are no complaints with the properties, sure they require more maintenance but the rent easily covers that.
The only negative is with the property manager who refuses to
send monthly accounts so I’ll get someone else.As far as Buffalo itself is concerned, the downtown area is pleasant
and is being revitilised. There are plans to improver other areas.
Sure it will take a decade or two, but the city will improve and
provided you purchase in the better areas you will get both good
yield and in the future capital gain. So in short I am of the same
opinion as Dim Sim, the future in Buffalo is brightOriginally posted by easymoney:Hi all,
I have been looking on the net for properties in buffalo after reading old posts I think it’s a good place to invest.
I didn’t really come across any houses but i found many unit complex’s which were 20% CoCr.One example is a block of four units for $85 000 paying $18,340 in rent per year with a net operating income of $12,202
All figures are in US dollars.If I refinance my home after one IP I have recently bought after buying Steve’s book I will have Aus$55 000 as a deposit or two.
I was wondering what other people think of the risk versus returns.
As i have no experience in the US i am planning a trip there in a couple of months, a return ticket is worth $2 406 leaving from Sydney. I was also wondering if anyone else would like to accompany me for company and so two or more like minded minds can strive foward for the same goal.
easymoney
