I am a big advocate of investing in what I call “fringe” markets. I define these markets as neighborhoods, communities or towns that are very close to “hot markets”.
The reason I like these areas is they are a lot of fun to be a part of as they renew and are very profitable. Genesee Street is one of these areas. Here is a picture of the property that I just purchased for $32,000 that needs about $30,000 worth of renovations and will be valued at approximately $120,000 when we are complete.
This amazing gem is a three unit with marble fireplaces, high ceilings, regal crown moldings and an incredible urban renewal experience happening. Oh did I mention that this street is 2 blocks from Seneca Lake! Here is an few photos of this amazing property,
Stay posted as the project unfolds.