Investing in NYC?

[Oisin Lewis]

The more I read about real estate investing on this blog, the more excited I become about actually starting my real estate investing career. I've read about many strategies for how to invest with little money down, how to invest in owner-occupied multi-unit properties, how to become cash flow positive, etc. These all make sense to me and I can see how it would work in many markets across the country. But will these kinds of strategies work in New York City for early real estate investors, or is NYC a market to approach later in my real estate career?

Thanks in advance for the help!

[Oisin Lewis]

@Jerry Padilla yes I have considered that as a strategy, and I think that's what I will try to do actually. Because I'm new to the real estate world I'm still trying to calculate what the actual closing costs would be and how much rental income a multi-family property actually makes in NYC. Many have said that traditional income forecasting methods (50% rule, 1% rule) aren't as applicable here because rents are higher, vacancy is lower, etc. 

I'll look more into the FHA mortgage. Thanks for the advice!