Soon to be Real Estate Agent and Investor - Need Help

[Jonathan Sicherman]

Hello BP Community,

I am currently getting my real estate license, and I want to move down to Westchester County, NY. Preferably anywhere between the White Plains and Peekskill area. I want to work as a real estate agent after moving from the Syracuse NY area, but I'm worried that I won't be able to afford a place to live down there off of a commission based job in my first year. I am willing to work hard to become a successful full time real estate agent, but I feel as if it will take time.

I also have $180,000 to start with for my first investment property. Is it possible to buy a duplex down in Westchester, and house hack it so that I can live comfortably enough to work on my real estate career for a while. My goal is only having to spend around $500 in mortgage/utilities (considering I have a tenant paying rent in the other half of the house). Is this possible? Or is renting in a cheaper market like in Syracuse a better option?

[Rosston Smith]

Of course it's possible! You also have a spectacular amount of money to start off with. I recommend studying the market in that area and hunting for a deal with numbers that suits your needs. $180k Is more than enough for a down payment.

It all depends on the price of the property compared to the rents.