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Updated over 8 years ago on . Most recent reply
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Are there any NYC residents who invest out of state? Lets talk
Ok guys and gals here is the rundown, I own a multifamily home in Brooklyn NY with 1 unit rented out while i occupy the remaining space. I have about $75k cash to play with. I'm looking to get into my first rehab deal without having to borrow money. I'd love to invest in NYC, I'm in love with this place. However, given NYC's market, $75k makes this impossible until I'm able to build capital. My thinking is that i would need to look outside of NYC to start. Upstate NY, Pennsylvania, Connecticut, Massachusetts etc are all options options to me. I'd like to get any input on re-habbers/flipper that live in NYC(or any area) and has their investments in an other. I imagine at times it can get challenging, but I'd like to start in baby steps and slowly build a progressive portfolio.
I've been researching this lifestyle for some time now and i feel as though it is time to include myself into the action and secure my own retirement plan. Any input on areas and advice would be greatly appreciated.
Thanks,
Dan