How to start in NYC

[Keila Rosario]

Hey guys,

I have a dilema. I want to start investing in RE. I have listened to many podcasts, read many posts/forums, watched many webinars, and etc. I live in NYC and ideally I would like to house hack in the Bronx but prices are extremely high and my income is not high enough to qualify for those houses. I have more than 3.5% percent of a 600k property saved. There are some houses that if I could get into them I know I would be able live for cheap if I rented out the other rooms and kept the master bedroom or the basement. But I just don’t qualify for them as my income is not high enough. Is there anything I can do to help me get started? What do you guys recommend? Where do you think I should start? I’m looking to get out of the rat race slowly (not too slow) but surely.

Also, unfortunately I do not have anyone trust worthy to partner with.

[Matthew Irish-Jones]

Originally posted by @Keila Rosario:

Hey guys,

I have a dilema. I want to start investing in RE. I have listened to many podcasts, read many posts/forums, watched many webinars, and etc. I live in NYC and ideally I would like to house hack in the Bronx but prices are extremely high and my income is not high enough to qualify for those houses. I have more than 3.5% percent of a 600k property saved. There are some houses that if I could get into them I know I would be able live for cheap if I rented out the other rooms and kept the master bedroom or the basement. But I just don’t qualify for them as my income is not high enough. Is there anything I can do to help me get started? What do you guys recommend? Where do you think I should start? I’m looking to get out of the rat race slowly (not too slow) but surely.

Also, unfortunately I do not have anyone trust worthy to partner with.

You can look for someone willing to seller finance a deal.  You can invest outside of your market in a more affordable area, or you can continue to save.   You may need to look outside the Bronx.