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Real Estate Investments in Buffalo, New York
Real Estate investments in Buffalo, New York? Savvy Real Estate Investors from around the the country have descended on Western New York to snap up bargains in the undervalued Buffalo Real Estate market. Western New York is one of the few places left in the U. S. where Real Estate investors can expect a positive cash flow on income property. Where values in many Real Estate investment markets have tripled or better in recent years, prices in Buffalo have remained relatively stable. The Real Estate "bubble" hasn't effected the Western New York Real Estate market where low purchase prices, steady rental prices and record low interest rates enable the Buffalo Real investor to expect 30% to 50% cash on cash returns or better. The positive cash flow enables the Western New York Real Estate investor to recover his down payment in 2 to 3 years.
Invest in the Buffalo Real Estate Market
Why invest in a Real Estate market that has not appreciated as much as say, Florida, California or New York City? Price stability is not necessarily a bad thing. First of all, you would have a hard time finding an investment in an overheated market with a positive cash flow. Secondly, what goes up (in price) might come down (remember the tech stock bubble?) If the Real Estate bubble does burst, it is the overblown markets that are probably most vulnerable. Buffalo Real Estate values have remained relatively stable and might not need to "correct".
Investing in Income Property in Buffalo, New York
Investing in income property in Buffalo, New York offers a great opportunity for the risk averse Real Estate investor because even if only a small capital appreciation is realized, the cash on cash return of 30% to 50% is very attractive.
But don't rule out the possibility of a capital gain just yet. With all the outside investors pouring into Western New York, prices for Buffalo income property could get bid up.
In addition to the increased demand for investment Real Estate in Buffalo, New York, the economic climate has never been better.
"The Buffalo-area is once again a region to be reckoned with when it comes to landing new jobs and new economic opportunities."--Governor George E. Pataki.
One example of the improved economic climate is the decision by insurance giant Geico to open a $40 Million customer service center in Western New York.
METROPOLIS REAL ESTATE OF MANHATTAN offers a wide variety of residential income property in the Western New York area, from two family homes starting at $45,000 to multi-million dollar apartment complexes. We have over thirty years experience in investing in income property in the Buffalo area. We can guide you to the right investments in the best neighborhoods through our extensive network of contacts. Our team at METROPOLIS will present you with many Real Estate investment options in Western New York.
Through our extensive network of contacts in the Western New York area, METROPOLIS REAL ESTATE OF MANHATTAN can find the right management solution for the Buffalo area investor. Managers typically charge around 5% of the gross rent as a fee. The service involves collecting rents from tenants, banking, record keeping and paying of bills. The manager also responds to tenant calls for repairs and maintenance and will make arrangements to have any work done. The manager usually fills vacancies and can charge from one half to a full month's rent of the landlord for finding a new tenant.
CALL TOM RIPELLINO TODAY FOR MORE INFORMATION: 212 696-1900 EXT. 131
info@metropolisre.com
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Metropolis Real Estate of Manhattan | 167 Lexington Avenue Suite 100 | New York, NY 10016
Tel: 212.696.1900, Fax: 212.696.0220 | Email: info@metropolisre.com
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