Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago,

User Stats

2
Posts
2
Votes
Jake Ferman
2
Votes |
2
Posts

25yr old in NYC -- finding a market to start my search

Jake Ferman
Posted

I am 25, living in NYC with ~150k in savings. I have a high-paying, but unsatisfying job.

I'm planning on quitting soon, moving back home for a little and taking a few months in between my next job to pursue my first investment.

My rough idea for an investing strategy is:  long-term, not necessarily looking for high cashflow (just want to start building equity), quality deals > amt. of doors, Class A/B neighborhoods mainly for low vacancy. 

I'm already stuck in phase one of deciding what market to focus on and get overwhelmed when even deciding where to start my search.

I guess my questions to you all are:

 1. Should I focus on a market in-state or look elsewhere? -- Right now I'm interested in class A/B suburban markets outside of NYC.

 2. Going off that, if I were to choose a suburban market, doing CMAs and underwriting deals seems like it'd be a challenge as there's less transaction volume. So would it make sense to focus on bigger markets to start?

 3. Would you suggest working with an agent to start, or focus on other marketing channels (driving for dollars, mailers, pre-forclosures, etc.)? -- focusing on too many channels would get overwhelming quickly, but I feel like I'd succeed if I focused on one.

As this post probably lets on, I'm a bit of an over-thinker which tends to lead to paralysis-by-analysis.  I'd also love the chance to connect with any of you 1-on-1 either in person or virtually. 

I've been a spectator in this community on and off for a while now. I'm excited to finally introduce myself and will have lots more questions to come.

Thanks in advance for any advice!!

Loading replies...