Buffalo-Niagara Falls
How is the Buffalo Niagara falls area in terms of cash flow and appreciation. What is ballpark price for duplex in a decent area? Anyone familiar with the area?
How is the Buffalo Niagara falls area in terms of cash flow and appreciation. What is ballpark price for duplex in a decent area? Anyone familiar with the area?
Eric,
Many thanks for the info.
Could you recommend a property manager in the area.
How did you go about finding props at 60-70% of fmv?Are the 20k props in combat zones? If so what is the min price to find a duplex in a decent area.
Thanks Again!
The one main problem other than appreciation in buffalo is actually good property managers. There arent any..not that ive seen. Theres a big company called rainbow that most people use up there that works...but someone should start a good management company up there with all the out of town investors that exist there. I was thinking about it but have no clue where to start.[ Edited by Sham718 on Date 12/14/2005 ]
Property taxes vary greatly. I was looking at a quad for $80K in one of the suburbs. The taxes were $6K/yea!. I have a triplex in Buffalo with an accessed value of $47K. I pay $1400 a year in taxes. I have a rental in MD with a tax value of $150K, I pay about $1800 in taxes, go figure.
My PM is pretty good. He charges 10% & does a good job keeping the properties up. The problem is finding good tenants. Property values are low for a reason, few good jobs.
Eric