NYC Residents- Which areas outside NYC have you seen the most success for rentals?

[Jerry Nogueras]

I'm a long time lurker finally getting ready to start making a move and getting that first rental property.

Being a NYC resident (originally from Long Island), the price of entry in the area is on the higher end, so I've been considering some options in the NY Capitol region, as well as NJ and CT.

I'm curious, to investors in NYC, where have you been able to find the most success? Has it been in surrounding areas, OOS investing, or have you found deals in NYC?

Thanks BP!

[Mohammed Rahman]

Hey @Jerry Nogueras - I was in your shoes too, born in NYC, and lived between there and Long Island. 

You're asking the $1,000,000,000,000 question - there's no right answer, but there's only the right answer for *you* because its so subjective. 

My recommendation would be to iron out what you're looking for as an investment goal. Is it cashflow? Appreciation? Buy/Hold? Etc. 

That'll help you figure out what direction to aim in before speaking with a bank to figure out how much you can qualify for. 

The financing will then dictate which markets are and aren't within your budget. Myself personally I'm invested in Buffalo and NYC, but that's because it made sense for *me*. 

Others I know have invested further around, e.g. St.Louis, Cleveland, etc. and all over. 

There's no real wrong answer to your question, but the right answer starts with you figuring out what general direction you want to aim in. Feel free to reach out (DM, text, etc.) and I'm happy to share some advice from my own journey.