A 19 YEAR OLD BEGINNER IN THE BIG APPLE

[Xavier Burgos]

Hello BiggerPockets community, my name is Xavier. I am located in the interesting city of New York. I am 19 years old looking to become a real estate agent as well as becoming a real estate investor to obtain passive income. After finishing the book "Sold" by David Greene I've decided to give this community a try and see how helpful it can be. Im currently in the process of learning real estate before I invest into it. Im looking to find people in my city or around the world to help me understand the game of real estate. I have a few questions I would love to talk about and also open to being taught by experienced or even new investors to help one another. Thank you for taking the time to read this post and hopefully get some feedback to whoever this reaches!

1. Any books you recommend for a beginning realtor/investor?

2. What loans do you recommend and where can they be found?

3. Is NYC a bad market to begin investing in seeing how high prices are and how low of experience I have? 

4. How to find the right brokerage to get your foot in the door? 

5. (Silly question) How to I get access to the MLS?

Thank you again for even taking the time to read this post, let alone reply to any of my questions!

[Jiwon Lee]

Congrats on being interested in real estate! You're ahead of the game by trying to studying the market so early. I live and work in NYC and am buying in Hoboken, NJ. 

1. Classic - Rich Dad Poor Dad. I liked The Millionaire Real Estate Investor as well.

2. Depends on how much money you have saved up, your credit, whether you have a partner etc. If you want to put as little as 3-5% down to buy, research conventional or FHA.

3. If you're looking for cash flow, I find the five boroughs of NYC difficult but you can do analysis yourself.

https://www.biggerpockets.com/...

If you go further away from Manhattan, you may be able to break even if you get creative (e.g., house hacking, creating an extra bedroom, etc.) . I see many people living in the city investing long-distance.

4. I contacted many through BP network - real estate agents. I can let you know some too if you message me.

5. Realtors have access to the MLS. I recommend you have a clear criteria of what you want. Also it's helpful if you have a preapproval with a lender if you are using leverage.