NYC Newbie trying to decide on a market

[Michael Kunis]

Brand new investor starting out. I live in Brooklyn, NY which is way out of my price range. At first I was dead set on Philadelphia, as I know a couple of people flipping houses down there, but the distance and lack of local knowledge made me hesitant. Additionally, I started to look at things using a little more of a data driven approach (i.e. population trends, economic growth, etc.) which opened me up to much more affordable, yet further away markets. The adventurous side of me wants to venture out, but the conservative and sensible side of myself wants something a bit more digestible and closer to home. I've begun to look at markets like Ulster and Dutchess County, but I fear all the indecision is making my head spine. A little wisdom and guidance would be greatly appreciated.

Additionally, my main target is small multifamily properties around 250k. I have a construction background so minor repairs are not intimidating though I'd prefer to keep renovations to a minimum. Seeking a strong cash flowing market over an appreciation driven one, but prefer an area I can continue to build a portfolio in to incorporate appreciation down the line.

Thanks in advance for all the insight.

[Sheryl Sitman]

@Michael Kunis Flip ou buy & hold cause that will drive the where? LV and Philly and surrounding suburbs offer plenty of good opportunities but you have got to learn the markets. Duplex, triplex etc are more difficult to find as seasoned investor s will grab the good ones before you even know they exist. You have to start somewhere and get yourself out there so either work with someone who can guide you or find the right investments for you or jump in and make the investment your school rather than waiting months or years until you are sure you made the perfect decision.