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Updated over 5 years ago,

User Stats

16
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1
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Steve Barounis
1
Votes |
16
Posts

The right market for newbie living in New York

Steve Barounis
Posted

Hey guys I’m very new to bigger pockets and I love the content that the site and it’s forum users bring to the table. Lots of knowledge here for everyone so thank you guys for that. So I’m looking to get started in real estate with the objective of gaining passive income. I do not want to quit my job as crazy as it sounds because I love what I do. However I want to build as much wealth as possible to increase quality and comfortability of life. I live on Long Island in New York. As many probably know the market here and in pretty much all surrounding areas within the state are crazy expensive and not Conducive to investing for the guy who has a very small amount of start up cash. So my question is what market(area) do New York or even more specifically, Long Island investors work in? I’ve tried looking in parts of Delaware and New Jersey. As well as some of the closer areas in Pennsylvania. I’ve looked in to brrrr strategies as well as buy and hold rental and even short term vacation rental, more specifically in ocean city Maryland. I need to find an area where I can get started with a $25-30k investment. I will have at least one partner to start so altogether the start up money would be around $50-60k. Thank you guys for all advice.

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