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Updated almost 8 years ago,
Where should I invest for cash flow from NYC?
Greetings!
I'm new to real estate investing and new to this forum as well. I've been browsing on it for a few days and this feels like a great community of experts and investors. :)
I'm looking to purchase a rental property to invest for cashflow, all cash, around $70k, for $1000-$2000 cash flow/month, in a safe neighborhood. I would like to find an area that's close to NYC, where I live now. I've been looking at a few cities in upstate NY, but most of the major cities are 4 hours away or more.
My questions are:
Are there cities I can invest in close to NYC (2 hours away max) that meets the numbers and my criteria?
If not, which cities farther up should I invest in?
Where else in the US can invest in? Is it a good idea to remote manage an investment property just starting out?
Thanks in advance!