Investing in NYC with high returns

[Account Closed]

I’ve been a real estate agent for two years and I’m looking to get my start in my first property. I live in nyc and most single to multi family properties don’t really cash flow and the barrier to entry is very high. What areas around New York City have properties with a lower entry barrier and the properties cash flow easier. Thanks in advance for your advice.

[Nicole (Dunlap) Pendergrass]

@mindy gratt

Were you originally planning to live in the property as well (house-hack)? If so I know the Bronx has areas, but not sure you'd want to sacrifice location by living in a C/C+ area... I have a 3 fam I bought 4 years ago with FHA where the other 2 units covered all expenses. I'm about to move and the building will cashflow about $2k p/month. It has appreciated significantly since purchase, but I'm pretty sure would still cashflow with market rents (my rents are a little under market), but havent run the numbers. All that to say, I'm pretty sure there are areas of the Bronx (although becoming "hot") that you could still find the cashflow, just may have to be in a C area :-/