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Updated about 5 years ago on . Most recent reply
Buy and hold for Newbie in NYC
Hello everyone! I am a 30y old male brand new starter who has no experience in RE.
It's my first time putting up ost here, just having read, read and read again and now I think it's time to put up a post of my own and take action.
I live in Queens, NY and have full time job 12h and 3days a week schedule.(currently on a vacation). I'm interested in small games like condos, studios, single family priced at up to 350k in a low priced area(Bronx, Jamaica, Somewhere in Brookly maybe) and looking to go for them for as little as $100/mo or even for -$100, depending on the property's potential.
I know it's hard to pull off cashflow in this area(I am considering out of state or anywhere within 3hr drive), but I think I am still going for it at least for now
I am trying to get connected to as many real estate agent as I possibly could. I am going to some properties this weekend I believe, and could proceed If I think it's the good deal after running numbers.
Do you guys think I am making a not-too-bad move as a newbie?
If you could give me any piece of advice, It would be much appreciated.
Thank you all and happy thanksgiving!