Buy and hold for Newbie in NYC

[Paul Chae]

Hello everyone! I am a 30y old male brand new starter who has no experience in RE.

It's my first time putting up ost here, just having read, read and read again and now I think it's time to put up a post of my own and take action.

I live in Queens, NY and have full time job 12h and 3days a week schedule.(currently on a vacation). I'm interested in small games like condos, studios, single family priced at up to 350k in a low priced area(Bronx, Jamaica, Somewhere in Brookly maybe) and looking to go for them for as little as $100/mo or even for -$100, depending on the property's potential.

I know it's hard to pull off cashflow in this area(I am considering out of state or anywhere within 3hr drive), but I think I am still going for it at least for now

I am trying to get connected to as many real estate agent as I possibly could. I am going to some properties this weekend I believe, and could proceed If I think it's the good deal after running numbers.

Do you guys think I am making a not-too-bad move as a newbie?

If you could give me any piece of advice, It would be much appreciated.

Thank you all and happy thanksgiving!

[Andres Baena]

Hello and welcome @Paul Chae!

I agree with what Abel has posted and you should definitely link up with agents to help you better understand the products and costs associated with the markets you are interested in investing. 

Best,