Why investors work with me
Before I got my license I was a general contractor. Today I own more than 100 rental units around Buffalo, including 25 Airbnbs, so I'm running the same numbers you are, every month. So when we walk a property together, I'm not just looking at the finishes. I'm looking at the roof, the boiler, the electrical panel, the sewer line and the foundation, and I'm thinking about what each of those is going to cost you and when.
Most of the investors I work with come back for their second and third property. One of them, Erick, put it this way on Zillow: "James has helped me buy and sell properties over the past 5 years. He has been an incredibly important part in growing my Real Estate portfolio."
What I help with
- Buffalo doubles and 2–4 unit buildings. The bread and butter of investing here. I know which streets rent easily and which ones sit vacant.
- House hacking. Living in one unit and renting the other is still one of the best ways to start. Owner-occupied 2–4 unit homes can qualify for FHA financing with as little as 3.5% down.
- Fixer-uppers. I'll give you a realistic rehab budget on the walkthrough, so you know whether the deal works before you spend money on inspections.
- Running the numbers. Rents, vacancy, taxes, insurance, repairs and the mortgage. Run any property through my deal analyzer, the same analysis I use before I buy.
- Short-term rentals. I run 25 Airbnbs myself. I'll tell you honestly whether a property will work as a short-term rental, what it'll take to furnish and manage, and what the local rules are. Read my Airbnb guide.
- Selling or trading up. When it's time to sell a rental, I'll help you time it and price it, including how to handle tenants during showings.
What I'll tell you that other agents might not
Buffalo has a lot of 100-year-old housing. That's part of the charm and most of the risk. The deals that go bad usually go bad because of things nobody priced in: a collapsed sewer lateral, a furnace that's on borrowed time, lead paint in a unit you planned to rent to a family with kids, or a "two-family" that was never legally converted. I'd rather lose a deal than let you buy one of those without knowing.
For a look at where the market is right now, read my Buffalo rental market guide and the latest market report.
Written by James Wangelin, Licensed Associate Real Estate Broker, eXp Realty · About me
Questions we get a lot
Investing in Buffalo
Do you work with out-of-town investors?
Yes. A lot of my investor clients don't live here. I'll walk properties on video, give you my honest read on condition and the block, and help you line up local contractors and property managers.
What is a Buffalo double?
It's a two-family house with one apartment upstairs and one downstairs, each with its own entrance. They're all over the city and they're the most common starter investment here.
Can I buy a multifamily with a low down payment?
If you live in one of the units, yes. FHA loans allow as little as 3.5% down on owner-occupied 2–4 unit properties, and conventional loans have low-down options too. Talk to a lender early so you know your numbers.
What should I check before buying a rental in Buffalo?
The legal unit count, the real tax bill, the age of the roof, heating system and electrical, the sewer lateral, and lead paint if the house was built before 1978. Also confirm the city's current rental registration and inspection requirements.
Looking at a property?
Send it over. I'll tell you what I think, honestly.