Starting out in NYC where do investors put there money

[Ricardo S.]

Hey I'm new. Well not really

I've been stalking the forums looks for answers to my questions but now Ive decided to sign up.

Heres my question;

I live in Brooklyn. I know that houses here are very expensive, even if they are in bad condition. Say in the high $200,000s at least. My question is do most investors in new york city spend their money investing in places onside the city? Like NJ or upstate New York? I know homes over there are much cheaper so the numbers would be easier to work with. Btw I am specifically speaking for fairly new real estate investors not people who are loaded with $$$.

Which area do you NYC wholesalers find properties? Where do you find properties if you want to do a flip?

Also if you want to use a HML to fund a flip lets say. Does the HML have to reside in that state for the deal to be approved?

How do wholesalers find investors? the only response I see here is the REI meetings.