House hacking in the Bronx/NYC

[Kevin Drouillard]

I know it may be a toughie, but I'm trying to see if I can house hack in the NYC area. I'm looking into the Bronx. I am pre-qualified for an FHA loan, and I know the best deals would be bank-owned, foreclosures, etc. I'm wondering, has anyone had success in finding deals/properties that can at least guide me where to go? I just finished watching a recent BP webinar about finding deals in a competitive market, but now I'm willing to talk to others specifically in this market to see what they have done.

Also, I'm wondering how can I be taken more seriously if I'm looking for REOs and am using financing. I'm really interested in hearing what New York investors have to say!

Thanks all!

[Steve Kontos]

@Kevin Drouillard
As someone who has lived here all my life, the better option for me was to invest out of state.  As you will see, numbers don't make much sense in our local market.