Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

76
Posts
5
Votes
Shane Brown
  • Rental Property Investor
  • Saint Albans, VT
5
Votes |
76
Posts

Buying first home as primary looking to buy rental still

Shane Brown
  • Rental Property Investor
  • Saint Albans, VT
Posted

Hey all,

I live in Vermont and have been trying to get my feet wet in the rental market for while but have yet to purchase. Me and my girlfriend are closing on our first home this month and that is taking up the money i had planned for a down payment on rental property. 

I am still really wanting to buy a duplex or multifamily to start but like i said used most of my cash i had available. I live right on the New York state border where property is much cheaper but so isnt the rent. Where i live in Vermont you can buy a duplex for around 220,000 it seems like and a 2 bd 1 bath goes for about 1100-1200 if its nice. In new york it seems like you can get property from 140-170k and rents for 600-800 but it is a much more land lord friendly state then vermont and the city has a college in it so always college students looking for a place to stay.

What is the best way to get start after just purchasing a home? Should i go for Vermont or New York?

Thanks!

Loading replies...