Location Advice for HouseHacking

[Rocco Garavuso]

Hello! 

I am embarking on my real estate investment journey and currently reside in California, but I’m planning to relocate. As someone originally from New Jersey, I am interested in returning to the East Coast and investing closer to home. Upstate New York and Florida have both caught my attention, but I’m uncertain which market aligns better with my long-term goal of building a portfolio of multifamily properties, specifically quadruplexes. My initial plan is to live in one unit of the first property and rent out the remaining three. Given my objectives as a young investor, which of these regions—Upstate New York or Florida—would you recommend as a more viable starting point for multifamily investments, considering factors like market trends, economic growth, and property appreciation? Thank you!

[Shawn Mcenteer]

Hi @Rocco Garavuso if small multi family is the goal I associate upstate NY with that. When I think FL I think SFR market. Mind you the land lording laws are not as friendly in NY state but I think you'll have a better shot at finding what you are looking for in NY. But rather than take my advice you may want to speak to @Ray Hage out of Florida, I know he finds properties of all types and runs a successful REI business out of the sunshine state.