Recommendation for buying first investment property

[HX Yuan]

I live in Queens NY and had worked in the corporate world for most of my life. Last November, I lost my job and I decided to get into Real Estate investment and work for myself. I am new in the real estate field and have spent a lot of time learning during the quarantine time. I’ve got basic knowledge of it but there is still so much to learn. Many investors suggest simply jump in and do it which I also believe is a good way to get hands-on experience. I am planning to buy my first investment property in the area where I can reach. However, the New York area has a high entry point that is not an ideal place to invest the first one. I am thinking to start in Pennsylvania. My questions are: Is the PA a good state to get started? If yes, any suggestions what are some of the cities in PA good for investment? Or any recommendations of surrounding reachable states of NY to get started? your input is greatly appreciated!!

[Jonathan Greene]

I would start somewhere you can go to so you ca learn so PA could work, both in Philly and Pittsburgh. In Northern NJ where I am, there are definitely options, but it is very competitive and the taxes are very high. There are parts of Westchester that could do well for multi-family, like Northern NJ as well. You want to find the perfect balance of good price and veritable proximity so Philly could end up being a bit far for your first one unless you have the time to drive over a lot to build those relationships.