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Property Management Services Serving owners, tenants and neighborhoods in the greater Syracuse area.
A Winning Investment PlanThe chances are your investment plans resemble the graphic representation below. This is undoubtedly a winning plan if the market conditions are right, and the good news is that in Syracuse the market conditions are the best they have ever been for investors in managed residential rental properties.
 The major risk that can make you miserable.
There is one glaring weakness that often breaks a new owner's resolve. The weakness is remodeling and repairs. While there are plenty of properties that will theoretically result in a successful and profitable Cap 10+ purchase, there are also lots of properties in Syracuse that initially look as if they're in this category but are not. Mel & Jay Management, LLCDeals with about 100 different rental units owned by investors from outside the city - in fact from around the world. Almost 50% of the new owners who seek our services have properties they can't afford to own because the repair costs are overwhelming, or they're in the wrong neighborhood, etc. Mostly, however, they just payed too much initially. Our experience with this issue is the reason for NRG. You can't enjoy the cash flow positive value growth phase of the investment cycle unless the property is in rentable and marketable condition. Contented existing tenants paying adequate rents are a major part of getting top dollar when a property it is time to sell.
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