Looking for First Property on Long Island (House Hack!)

[Vincent Villani]

Hello everyone!

It's been a while since I've been on here. I've found that this community is an excellent network of active people, who are enthusiastic about interacting with one another and helping out. I was really hoping to get some feedback here from anyone who is experienced on Long Island, NY.

Basically, I'm currently renting an apartment in Long Beach, NY. I love the area. This is not only because of it's nightlife, food selection, and scenic beach, but also because of its proximity. I am a field sales representative for a medical device company, and the territory I'm responsible for is quite large: Staten Island, Brooklyn, Queens, and Long Island. In this case, Long Beach serves me well - it's an hour from everywhere and central to my territory. My lease is coming to an end shortly, and I have made the mental decision to no longer be a tenant. It's a waste!!!

My goal here is to find either:

• A 2-family unit, or
• A high ranch / raised ranch and convert to a 2-family

Aka the "House Hack", I intend on financing through FHA and renting out the 2nd apartment while I live in one. The problem is...finding a rational deal on Long Island seems difficult. Ideally, I'd love to find something in Nassau due to its proximity. I hear Long Beach, Rockville Center, Lynbrook, Garden City, and closer towns are great. However, they are very expensive from what I've been researching, and Long Beach poses a definite flood risk. Are there any areas you might recommend? Any to avoid?

I've heard Patchogue is a great up-and-comer also, however it is very far East. The deals actually look good there, but that means I'd be driving almost 2 hours to Staten Island accounts. Very much in need of any advice here. It would be sincerely appreciated!

[Vincent Villani]

Originally posted by @James Reed:

@Vincent Villani I'm in such a similar situation so we should keep tabs on each others forum posts! Also a road warrior but on the North Shore selling pretty high end wine all over the Island; many of my clients have some seriously deep pockets and are incredibly well connected. I've started sending out beacons to all of my accounts/friends/family to keep their ear to the ground. My goal is similar to find a multi-family property under 500k for almost all the same reasons... I think word of mouth is going to be our best bet, anything that hits the MLS is either going to be priced too high to make sense or get snatched up by someone with the ability to purchase all cash. I forget which podcast it was mentioned in but Brandon Turner said that he mentions to everyone he meets that he's always looking for deals. After a week or two of building this ethos into my every day conversations and bam, I learn that one of my good accounts has been in the game for decades!   I would have never known if I hadn't been talking about my goals beyond my current employment.  What's even better is that he's not looking for new properties anymore and often hears about off-market opportunities that he will be gladly passing along to me.  Need irons in the fire and what we do for a living gets us in contact with so many more people, on a daily basis, than the average Joe out there.

 That's a fantastic idea! I'll reach out to you so we can discuss progress.