what is best city for REI near by NYC?

Question

I want to buy a property close to nyc

The property value is less than 200k.

any suggestion ?

Eder Aldana · Answer

@Sinil Kim I completely agreed with @John Hickey , Newburgh is having a complete change , My wife and I drive to Newburgh every Sunday trying to find our  next deal, its still has its rough neighborhoods that will take some time to change , but I recommend you to take a drive around Streets like Bay view Terrence and you'll see why there  so much potential (spoiler BEAUTIFULL VIEWS OF THE HUDSON ).

Now on the Westchester side , you can look into my favorite town of all PEEKSKILL NY, 10566, I been living here for almost 20years, I'm a newbie investor, I bought my first rental a year ago in Peekskill (4plex).  The town of Peekskill very hot rental market, We  just had a renter leave this month ,the 2B unit will be available may 1st , we already have around 10 prospects that want the APT without any marketing just word of mouth( will start marketing soon on social media , Cant wait to see how many people are interested).  We have a beautiful river front and train station 50 minutes you're  in grand central, Peekskill 15years ago was completely different  place, but slowly but surely , Peekskill is and has become amazing place to live.   If you have any questions please don't hesitate to ask. GOOD LUCK!!

Curtis Bosch · Answer

@John Hickey could you share some more info on the Newburgh Renovators meet up?

John Hickey · Answer

@Frank Robinson thanks! I’ve been saying this for a while! When I started investing in Newburgh 2 years ago after many years of waiting and watching I was pretty sure the turn around was here....but It was still very risky.  There have been slot of false starts.

Now at this point I think anyone that thinks newburgh isn’t in a screaming fast turnaround just hasn’t been to newburgh lately or they never went years ago so they have no reference point.

Pretty much every day that I’m outside at my worst property’s.  I have people...not investor per bc these people are owner occupiers many from NYC looking to move to newburgh.

It used to be when you saw nice cars in my part of newburgh it was drug dealers and people looking to pick up hookers or drugs....now I see couples in BMWs driving for around checking out listings.

At this point I cannot keep track of the amount of people that are starting new projects in newburgh.

Lutheran street....one of the worst is now getting hipsters.  Not too mention local people that’s said I was nuts....now say stuff like “wow how did you know what was going to happen”

The market will go up and down of course.  But the days of it being the murder capital and the worst city are coming to an end. People will still get shot, drugs sold but the clean up is under way.

John Hickey · Answer

@Curtis Bosch We schedule the next meeting in Newburgh for April 26, 2019 at noon 119 Liberty St., Newburgh, NY 12550 the Wherehouse bar

John Hickey · Answer

@Mike P. Good for you working in Poughkeepsie.   City can use people to cheer it on.

Think your dead wrong on Poughkeepsie being a better spot then newburgh.

I watched both cities plus a few other before I picked newburgh.  For almost 9 years.

I think a walk around in both cities is the best thing for anyone trying to decide.

I do know that a few articles like your talking about and all those numbers about newburgh being the worst is from 2016 crime data.

New data hasn’t been released.  But I keep track myself.

Pokeep has more murder and shootings then it used to.

Newburgh has less.  That’s a fact.

In 2016....the year your article uses for data newburgh had twice as many shootings and twice as many murders than pokeep.

That’s flipped around.  Last year it was pokeep that had more shootings and twice as many murders then newburgh.

In the last 3 years newburgh has seen a 90% reduction in gun violence.  Poughkeepsie has not seen that kind of turn around with 6 murders.  It’s seen twice as many murders.  Don’t need to wait for the article to come out just look it up.

Just recently 4 Poughkeepsie residents came to newburgh an got accused of murder.

I love when people make calls tho.  Lets both set a reminder to check in on this thread every six months or a year.

Anyone considering investing in the Hudson valley should set aside time to walk through newburgh.  I’m saying this now.  This city turning around big.  It’s happening right now.  Come and see or wait and see.

Also all welcome to the newburgh Renovators meetup.  At some meetings there are 50-60 of us that are new to newburgh.  We are experienced at turn around and we are rehabbing newburgh.

I think pokeep should do the same but you’ll have to play catch-up.

Raymond Reyes · Answer

Hey @Sinil Kim I would say you're going to have look about 1-2 hrs away. Some areas in NY I would recommend would be Newburgh and Poughkeepsie, both seeing a lot of activity at the moment. Feel free to DM me if you have any questions about those areas I could set you up on a search on the MLS to get started.

Another place to look might be Lehigh Valley PA, a lot of affordable properties out there as well and it's about 1 hr 15 mins to 2 hrs away, depending where you live and what town you're looking in Easton, Bethlehem, or Allentown.

Frank Wong · Answer

Hi Sinil,

I am not sure of that market but since you live in Queens, I suggest you start with a radius out from your current location.  How far do you want to drive to see your property?  Start looking at a price range under $200k to see what is available.  Once you have done that you can start breaking down areas that may work for you.

Frank Robinson · Answer

@John Hickey

Sinil Kim · Answer

Thanks 🙏

Mike P. · Answer

Newburgh was just ranked the worst City to live in.  Many other places to invest in.  Starting with Poughkeepsie.

what is best city for REI near by NYC?

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