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Updated about 3 years ago, 12/23/2021
Is house hacking in Brooklyn a realistic starter location?
I'm in the research/networking phase before pulling the trigger on a multifamily property in or around NYC (goal is to close by Q4 of 2022). My plan is to to get experience as a house-hacking landlord as I save to build a multifamily/BRRRR portfolio. I do not intend to invest solely in NYC, but it would be convenient as I continue my day job in Manhattan. Any advice, info, or anecdotes are appreciated.
-Can one find a solid duplex or triplex with ~$50K down in Brooklyn (Cobble Hill, Carroll Gardens, DUMBO, Brooklyn Heights area)?
-What are the most important indicators for a good deal in a Class B area of Brooklyn? What are the red flags?
-My goal is to house hack the first property in order to save more cash for a second property. Is NYC a realistic market for a newbie?
-Is house-hacking and offering the vacant units on Airbnb worthwhile in NYC?
Stay safe everyone.