Live in Westchester, NY looking for cash-flow. Where to start?!

[Nicholas Giordano]

Hey BP community! I am fairly new to REI and am looking to purchase a 2-4 unit property solely for cash-flow, while staying at my current residence to live. I am currently living in Westchester, New York about 40 min drive from NYC. I've read "The Book on Rental Property Investing" and just finished up "Rich Dad Poor Dad" upon a few other books upon a ton of forum and online research. I have a solid amount of capital on hand, along with a steady fairly well-paying job. I feel as if I am ready to start building my empire and am highly motivated to do so. My only problem is.. where do I start??! Pretty much my entire county is full of super high priced homes with super high taxes and the ones that seem like the numbers could work are in terrible neighborhoods that I wouldn't even want to buy in! I looked into turn-key properties in Indianapolis, Kansas City and some others but I feel like they aren't the smartest/reliable investment.. Then I spoke with someone who told me to look upstate at Albany/Rochchester NY areas for good multifamily cash-flowing properties.. I am willing to invest out of area (even out of state) I just don't have the knowledge or experience to do so safely!! Does anyone either live in Westchester/NYC area that has successful cash-flowing properties either in or out of area? Or anyone has invested in Albany/Rochchester? Any advice or information would be greatly appreciated.. I feel like the more time that goes on the longer I could have had already been cash-flowing on something.. just gotta find my niche. Looking forward to hearing from you guys!!

[Lionel Li]

Hey @Nicholas Giordano I agree with @Mike D'Arrigo. I'm from Queens + work in White Plains and for a long time I couldn't decide where to invest. I've looked all over the country for a city that I could invest long term in and Kansas City & Indianapolis definitely came up on the top, especially if you're looking for more stable cash flow. I pulled the trigger last month and purchased my first SFR and I've been under budget in almost every aspect in expenses and estimates and with that my Cash flow & ROI are increasing. Contrary to your statement, I believe those two cities are exactly what you're looking for in terms of cash flow.

Hope you find the motivation to take the leap, I know I was as impatient as you were 5 months ago but, do your own research and a lot of it..then figure out what fits your investment goals.