T
topcat
New Member
Hi
I thought i'd contribute to the Buffalo Property Investment blog as I just got back from there (yesterday in fact). I have been investing in property for about 8 years now and have not found anywhere else that gives me a better return than WNY (if anyone can give me 15 to 20% net then i'm all ears). You will see a lot of figues stating 30% but this is gross remember and the sourcing companies leave a lot out!
Buffalo is most definatey on the up as just in the last 12 months alone i've seen a lot more investment in the city and a lot more people moving into the it (always a good sign in my book). The property prices have stayed the same for for a number of years now and when I got into buffalo properties i wasn't too bothered about capital gain because my rental yield certainly made up for it. I feel with whats happening to buffalo I may even see a 10 or 20% capital increase over the next few years which would be nice.
What is paramount when inveesting in areas where you don't live is that you have a good team in the area. I have a good set of guys over there (by the way i'm british) that look after everything I ask them to, but it took me many visits and phone calls to get these people and they are worth their weight in gold. There are plenty of crooks willing to make a few quid out of your niaveness and I too have been burnt in the past and lost a few grand on my first purchase (a costly but important lesson). My advice to anyone going into this high gains area is that its high gains for a reason. You need to know the area and its sub towns and streets. One street can be desirable but presuming the streets around it are is a beginners mistakem as one block away can be crackhead city. I've seen a few buyers buy because it as sold with the fact it was near a good area!
My experience is at first it's a frustrating investment as the paper work can be tiresome, but this game is all about making money and that is what it certainly does. The real bargains are the ones you don't see advertised and it takes a while to get those. I hate to see people lose money due to lack of advice so If anyone would like any help or advice on investing in Buffalo/Niagara Falls and it's surrounding areas then contact me and i'll be glad to.
It's an old saying but its true, "It's not what you know, its who you know".
I thought i'd contribute to the Buffalo Property Investment blog as I just got back from there (yesterday in fact). I have been investing in property for about 8 years now and have not found anywhere else that gives me a better return than WNY (if anyone can give me 15 to 20% net then i'm all ears). You will see a lot of figues stating 30% but this is gross remember and the sourcing companies leave a lot out!
Buffalo is most definatey on the up as just in the last 12 months alone i've seen a lot more investment in the city and a lot more people moving into the it (always a good sign in my book). The property prices have stayed the same for for a number of years now and when I got into buffalo properties i wasn't too bothered about capital gain because my rental yield certainly made up for it. I feel with whats happening to buffalo I may even see a 10 or 20% capital increase over the next few years which would be nice.
What is paramount when inveesting in areas where you don't live is that you have a good team in the area. I have a good set of guys over there (by the way i'm british) that look after everything I ask them to, but it took me many visits and phone calls to get these people and they are worth their weight in gold. There are plenty of crooks willing to make a few quid out of your niaveness and I too have been burnt in the past and lost a few grand on my first purchase (a costly but important lesson). My advice to anyone going into this high gains area is that its high gains for a reason. You need to know the area and its sub towns and streets. One street can be desirable but presuming the streets around it are is a beginners mistakem as one block away can be crackhead city. I've seen a few buyers buy because it as sold with the fact it was near a good area!
My experience is at first it's a frustrating investment as the paper work can be tiresome, but this game is all about making money and that is what it certainly does. The real bargains are the ones you don't see advertised and it takes a while to get those. I hate to see people lose money due to lack of advice so If anyone would like any help or advice on investing in Buffalo/Niagara Falls and it's surrounding areas then contact me and i'll be glad to.
It's an old saying but its true, "It's not what you know, its who you know".