NYC-Brooklyn-Flatbush-starting my multifamily investing now?

[Bill Liu]

Hey BP folks. Just starting on this real estate journey in NYC. NYC is having a tough year and some people say next year will be tough as well. Im not sure what this means for the real estate market. Im interested in the flatbush area to buy a 2 family for a buy and hold strategy. Many of the deals in that area have non paying tenants that will come with the property. This could potentially mean I will buy a problem that wont be solved until the end of 2021. There may be deals where the holding cost is low enough that I can take the hit for a year and still come up on top. 

My question is should i do that? and should i jump the gun now? Some people talk about a market downturn in NYC next year. how valid are those opinions? also what if flatbush and east flatbush never really gentrify? Those are my main concerns that are preventing me from making offers today. 

Thanks