Curious how NYers get started..feeling discouraged

[Mike C.]

Hey guys, long time reader of the forum I love the wealth of information provided on this website. I live in the NYC area, and was curious how people around here get started. The prices for many two families by me are over a million dollars. I have a decent job and a little saved but nowhere NEAR the down payment requirements for the homes around here. Is it recommended that I get creative with financing and try emerging areas near the city? Thanks for any help!

[Brian Acosta]

I live in NYC and faced the same problems. A year of research lead me to Hackensack, NJ with a focus on areas near the train and bus stops. On the train, it's an hour commute to the financial district and ~45 to midtown.

The MLS has 2 families in need of repair in the 300k range. You can do better on off-market deals i'm sure.

I am closing on my first owner occupied duplex just now. Feel free to ping me if you want further details.