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Updated over 2 years ago on . Most recent reply
Need help with investment locations.
Good Afternoon all! I am a licensed real estate agent in NY and I’m looking for my first investment property. I saved enough for a nice down payment. Looking at homes no more than 200k. Where I live the market is extremely high and will be a no go for investing. I have looked at different markets from Atlantic City, Hartford, Newburgh, Waterbury, Syracuse. I am open to all suggestions. How far should my first rental be from me. I wanted something close but that seems very far fetched at this point. Thank you in advanced!
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Quote from @Mike Nowa:
Good Afternoon all! I am a licensed real estate agent in NY and I’m looking for my first investment property. I saved enough for a nice down payment. Looking at homes no more than 200k. Where I live the market is extremely high and will be a no go for investing. I have looked at different markets from Atlantic City, Hartford, Newburgh, Waterbury, Syracuse. I am open to all suggestions. How far should my first rental be from me. I wanted something close but that seems very far fetched at this point. Thank you in advanced!
We're seeing numerous secondary markets where cash flow is still strong; particularly on multi family properties. Like @Nathan Gesner said, I would get a property manager if you're more than 1 hour from the property. I had a property that was 2.5 hours away and those calls for a blown fuse or stopped up toilet on the weekend are brutal.