Starting Out In NYC

[Ron C.]

Hi All,

I'm new to this forum and currently living in Queens NY. I'm interested in buying a muli-Family. My problem is that I don't know where to start. I have no capital and I'm not familar with the terms but I want to get in and start but I don't know where. I hear that ny is a really tough market and that won't make money. Is that true? 

[Paul Timmins]

@Ron C.

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul