Real estate in Rochester
It has been a while since my last post, sorry. I wanted to make a few comments regarding the “real estate bubble” that is all over the news. You know how the saying goes, “what goes up must come down”. What’s cool about the market that I work in, Western New York, it doesn’t go up! At least not enough to really say so. Sure we gain a modest bit of value annually, but we don’t have rocket-ship annual appreciation.
Picture it like this: Rochester real estate value jumps are like that little wooden ramp you made when you were a kid to jump over on your bicycle. Kind of fun, but no big thrill. The headline markets that make spectacular news stories are more like the freestyle motocross jumps where you fly 80′ into the air with no hands and upside down in front of 80,000 live viewers and millions on television. Sure, that gets your adrenaline pumping. Now think back to the time you crashed on your little wooden ramp. Remember: you scraped your elbows, you cried, you got a band-aid, then went back outside and did it again. Imagine crashing after the 80′ jump, upside down, with no hands…you break both your arms, pass out, and get a free ride in the meat wagon to the hospital. After being released 2 days later, heal for a few months, spend a few months in physical therapy, and slowly rebuild your body, you are finally ready to get back on and take a few smaller jumps in hopes of working your way back up to the one that hurt so much.
Do you see the comparison? I love investing in this kind of market. I started investing in real estate with nothing…and nothing to lose. Sure you can lose your shirt picking a bad investing decision and lose big time, but you can do that in any market. What is great about this market is that while you are working an investment, there is little chance that the bottom is going to fall out underneath you. There are enough other things to worry about while working an investment and it is nice to not have this big monster looking over your shoulder at the same time.
I can’t afford to go backwards. Neither can most of my investor clients. Who wants to anyway? It sure is nice having this extra bit of security.
If you are interested in learning more about investing in real estate in Rochester, New York, Monroe County, or any of the surrounding counties, let’s chat. It is a great place to make an excellent return that is much safer than many other markets.
Learn more about my business at www.bluetopmanagement.com.