Buying Outside of the NYC Metro Area

[Jermaine McIntosh]

Hey all,

I'm new to investing and have been looking for 2-4 family properties within the NYC area but a lot of the properties are greater than the down payment (60K) I'm willing to put down and don't seem to have good cash flow in rental income. There seems to be slim pickings in Brooklyn or Queens. Does anyone know any areas outside of NYC area  (30 mins-1hr) that would have good cash flow?

Thanks

[Rebecca Peters]

@Jermaine McIntosh I bought the property for $380k using FHA. Property was built in 2006, so very new for NY. It's a duplex, 2 over 3 with an unfinished basement in the 3 bedroom. Tremendous potential for me to add value to the property just by finishing the basement with walls and carpet. The day I saw that property, I saw 3 other duplexs in the Bronx, the next lowest price was 430. If you're interested in taking a look at some properties in the Bronx, please let me know and I'll pass you along to the sellers I worked with. They are investors and are great to work with.

I find it very interesting that people over skip over the bronx when looking for a place outside or brooklyn, manhattan and queens. The metro north runs through parts of the bronx which makes a commute very easy when you don't feel like taking the subway. I highly recommend taking a look in the bronx before going across the hudson. Again, let me know if you want the information of the investors I worked with.