Not actually. The local economy here is in bad shape. Taxes are high and the base is shrinking in many towns. That and poverty/urban decay/crime are severe problems. Our city has reached a milestone of sorts as we now have 10K in vacant rental units and the highest per capita murder rate in our state.valve bouncer said:
The internet hates you?BurlyShirley said:
. I feel very lucky to be living in this city.
When we were there we looked at what it would take to move there. We were surprised at how expensive it seemed to be. Still a ton lower then So Cal though. And things are still cheap in the Irish countryside. But yeah, Ireland is defenitely getting more expensive.Maybe I can buy a bunch of land and be a sheep rancher.narlus said:
It all depends on who you talk to how great the quality of life is here. I happen to fall on the "have" side of things also. Good luck on your opportunities. I commend your optimistic outlook.Crashby said:Not only does that make for a great quality of life here in Rochester, but gives amazing opportunities in the real estate market. I'm going to make a killing this year in this "affordable" market (and no, not in the rental market
Funny you mention Austrailia... I'm working with a group from Australia that wants to invest in the Rochester real estate market.
Ironically, my business thrives on a so-so economy, and it actually will strengthen during economic downturns. Tough times mean more foreclosures, and better deals on my houses. I, in turn, fix them up to close to brand new condition, and provide a fantastic house for a family who is at a lower income bracket (sell price= 50-80k). In Rochester, this is where the demand really is... not for for those 300K houses in Perinton (upper class suburb of Rochester). I make a tidy profit, and am doing a "good thing" for the neighborhood. Heck, I have a buyer already for a house I haven't even finished yet.jdcamb said:
Very coolCrashby said:
I think a return to single family homes occupied by the owner is the cure for a lot of our woes here in the city. I also think that unless it happens organically (by itself), it won't be successful. I can only see you making serious money if you have cheap, fast, good, efficient rehab crew under your thumb.
Im going to try to own/manage 50-60 flips this year, so I have about 35 people that will do the work on these houses, so I only cherry pick the projects that I like to do (re-face fireplaces, put in a marble entranceway, etc...). Very cheap and good labor (another benefit of the socio-economic condition of Rochester).jdcamb said:Very cool
Don't you have another job/career? How do you find the time to keep all these projects on track? Are you doing the rehabs? Do you have partners?
and yr lugging sheetrock into an attic? damn.Crashby said:
Actually, today marks the final completion of my personal house... which yes, included lugging drywall into the attic. The point of me buying this house was to rehab the whole thing... I wanted to experience painting, hardwood refinishing, crown molding, tile and hardwood floor installation, cutting marble and granite, drywalling, framing, wall-to-wall carpeting, plumbing, electrical..etc.narlus said:
I corrected something in my post... I'm an executive... and I'm a "Senior Consultant)... not a senior executive. I basically manage a global software platform.narlus said:
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Changleen said:
Brian HCM#1 said:
LOL, I wish.Ciaran said:Well Brian has special circumstances...
