BRRRR or Flipping in Westchester County, NY?

[Hagop Nercessian]

Hi everyone, new to BP, but have been intereted in Real estate investing for a while now. Currently, my wife and I rent a 1 bedroom apartment in Westchester county, and both have normal day jobs. I wanted to get involved in real estate and i've been thinking about what would be the best option for me. I do love the idea of flipping, and I am pretty handy regarding doing some work myself, but I don't think I'd be able to do that on the side, it would have to be an all or nothing kind of situation. I'm honestly open to either BRRRR or flipping, but my dilemma is trying to figure out what would be the best approach for my area (high prices, high taxes for the most part).

Any advice would be greatly appreciated!

[Alex Horelick]

Hi @Hagop Nercessian

House hacking may be a good option for you being that you are renting right now! It's a great way to buy a property in Westchester given the high prices and you can build some instant equity with renovations via a rehab loan if you like! You can do either FHA or NY's SONYMA loan programs for this give me shout if you want to learn more I've done it myself here in Sleepy Hollow.