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Updated over 6 years ago, 08/29/2018
Living in Westchester, NY Looking for Cash Flow. Where to start?!
Hey BP community!
I am fairly new to REI and am looking to purchase a 2-4 unit property solely for cash-flow, while staying at my current residence to live. I am currently living in Westchester, New York about 40 min drive from NYC. I've read "The Book on Rental Property Investing" and just finished up "Rich Dad Poor Dad" upon a few other books upon a ton of forum and online research. I have a solid amount of capital on hand, along with a steady fairly well-paying job. I feel as if I am ready to start building my empire and am highly motivated to do so. My only problem is.. where do I start??! Pretty much my entire county is full of super high priced homes with super high taxes and the ones that seem like the numbers could work are in terrible neighborhoods that I wouldn't even want to buy in! I looked into turn-key properties in Indianapolis, Kansas City and some others but I feel like they aren't the smartest/reliable investment.. Then I spoke with someone who told me to look upstate at Albany/Rochchester NY areas for good multifamily cash-flowing properties.. I am willing to invest out of area (even out of state) I just don't have the knowledge or experience to do so safely!! Does anyone either live in Westchester/NYC area that has successful cash-flowing properties either in or out of area? Or anyone has invested in Albany/Rochchester? Any advice or information would be greatly appreciated.. I feel like the more time that goes on the longer I could have had already been cash-flowing on something.. just gotta find my niche. Looking forward to hearing from you guys!!