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When you’re looking for a good place to purchase an investment property, it’s important to seriously consider the location, as this can significantly impact real estate investing. Rochester, NY, for example, is a location that can impact an investment venture positively, due to its moderate climate, plethora of culture, employment prospects, and great standard of living. For anyone looking to invest in a house or apartment in order to rent it out for profit, now is the perfect time to get involved in real estate investing. Rochester, NY, has many benefits for potential buyers, and below are just a few of them. Current Rental Boom Currently, compared to other US cities, Rochester’s rental yields are competitive and offer investors appealing returns and profits. This is in part due to high occupancy rates in all types of property, including apartments, multi-unit buildings, and family homes. Renters make up more than half of the occupant in housing units on average in several areas. These high rates are reflective of a buoyant job market and the city’s booming economy. Great Infrastructure With modern, high-quality buildings, smooth, maintained roads, and excellent public transport, the infrastructure in the city is another reason it’s so popular with a range of demographics. Renters are not only looking for the best property to call home, but also the surrounding appeal of the city. Rochester really does deliver on all counts. High Quality Properties There are plenty of high quality properties available to buy and rent in the city. It can get quite cold, so homes with quality insulation, heating and plumbing offer attractive benefits to renters. The general condition of a good selection of apartments and houses allows renters to be confident in their chosen property, and ensures demand for desirable properties remains high. Good employment opportunities Employment opportunities in Rochester are booming, which offers potential new residents a chance of finding a well-paid job they love. Those working in healthcare, technology or education particularly have a huge range of jobs on offer, and the city’s growing attention on sectors such as photonics, optics, advanced manufacturing and imaging (OPI) also boosts employment prospects. Great work opportunities determine the demand for properties in the area and help set competitive rental prices for landlords. Strong, diversifying economy Previously, the city’s economy was rooted in manufacturing – in partnership with companies such as Kodak and Bausch & Lamb. This has evolved significantly with a shift towards the education, healthcare and technology sectors, something that has, in turn, attracted a new and diverse workforce. This has increased the demand for housing and improved the prospects for those interested in real estate investing. Rochester NY has probably never been a better place to invest. With a thriving culture, a high standard and quality of education, and a relatively affordable cost of living compared to other states, the city is the perfect place to begin a foray into real estate investing. Rochester NY is attractive to both renters and investors, something that’s not always the case. However, as a new property investor, it is also extremely important to employ the services of a professional team if you want your investment to run smoothly and pay off. Author Plate Danny Torres is from Torres Turn Key, a property management company in Rochester NY with more than ten years’ experience dealing with both domestic and international clients. When it comes to real estate investing, Rochester NY can be an extremely profitable location. Providing a holistic service for both commercial and residential properties, Torres Turn Key brings together a host of experience and specialist knowledge to build long-term relationships and create maximum value and benefit for their customers.
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