Lots of advice from Florida agents. No one local, however.
Rentals are a good source of cash flow here, based on rents vs price acquisition cost. With numerous colleges here, as well as medical campuses, we get lots of renters in the better areas.
My suggestion is to speak to an agent who works in the areas you want to invest in, to give you an idea of they type of tenant you can expect, as well as what renta and prices you can expect to receive and to pay.
I would suggest purchasing near UB, Buff State and Dyouville. 20k properties will not attract good tenants, so you must recognize this...
I agree with an earlier response that you might want to increase your purchase price slightly to avoid a problem home. If return on investment is what you are looking for, and are paying cash, your return on investment could be close to 100% since Buffalo is a strong rental market. For example, I have a 4 bedroom double for sale at $27,000. The house currently rents for $900/mt (tenants have both been there 3 years). You may view other opportunities that I have at http://www.jdarttss.com
Call me if you think you might want to talk about this or visit my website http://www.LauraHutt.com. My telephone number is 828-361-3112 or my e-mail is Laura@LauraHutt.com.
I used to live outside of Buffalo back in the 70's and boy was it cold there! I hope to hear from you. Enjoy your day, Laura
I am a real estate broker in western New York area. Through my experience with out of town and overseas investors I am working with, I will be able to give you some best advise how to invest your money in Buffalo and Niagara falls area to get good returns. I've just wondering where is your $300000 home??? May be it is not in Buffalo. You do not have to spend your all money in order to buy some investments out here with good cash floor. Generally in this area, you have to be very careful what you are buying and how you are buying in order to make money without any hazel. If you contact me I will let you know A-Z about the process ,exactly what you have to do here and about the areas....
My contact phone # 716-907-3046 or e-mail firstname.lastname@example.org.
Hope to hear from you soon....