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Rochester Investment Properties and Property Management

By RE/MAX Custom Property Management

Services for Real Estate Pros with RE/MAX Custom

March 24, 2008 03:06 PM

Why would someone invest in the Rochester NY area? It is very simple cash flow. Compared to other national markets, Rochester is a very sable market, were local investors, investors around the county, and around the world can make money with small amounts of their own monetary investment.

What are the keys to investing in Rochester???

First an investor must buy right. Buying right can mean different things to various investors, but in Rochester "cash flowing" a property is why most people look here. The numbers must work.

Finding properties that should cash flow are easy... The next step is to get the cash. Property management may be the single largest element to investment property. Whether investors are managing the property themselves or hiring a property manager if you can not collect the cash there is no cash flow.

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P. Campbell

Metro Development Group - Rochester, NY

Michael, yes you are absolutely correct.

Many of our clients have come to us after having purchased property with an agent that did not fully inform them of all that would be needed to ensure that the property would become a cash flowing property, or simply purchasing a property where a reasonable cash flow was unable to be detected even after serious scrutinizing of all data.

Once they are at our doors they are already frustrated and possibly behind in their personal reserves after spending funds they were not made aware that they would need to spend.

It is unfortunate that they wind up in this situation, but that is why it is so important that as a new investor that you work with an agent that has been in this industry for some time and that you enlist he services of a Property manager to review your purchase before hand. Often times we can look at all the financial data, add in market data and help them determine if a property will meet their goals.

Agent and Manager, they go hand in hand, until you know exactly what you are doing.

Apr 28, 2008 01:38 AM