New to RE Investment Journey - Finding my Niche

New to RE Investment Journey - Finding my Niche

Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes

Hello BP community!

I'm new to this journey and so excited, but simultaneously fighting to stay motivated. I'm interested in house hacking, however living in Bklyn, NY the market is too expensive for me. I am still saving nonetheless to purchase in NJ. Im currently interested in house hacking the traditional way via a duplex, however Im considering buying a single family or duplex property in a much less expensive market and renting it out (as a regular rental property) for cash flow to help finance my second property that I can then house hack. For anyone that has been in my predicament or has helpful advice or guidance Im all ears.

Thanks in advance,

Marceline

3Reply
23 views

Most Popular Reply

Member since 2022 · 25 posts · 14 votes
4y

Hello @Marceline P. and welcome to the club! I understand the challenge with investing in an expensive market. There's a Bigger Pockets YouTube video I found really helpful. "How to Invest in an Expensive Market and Live Rent FREE!" you should definitely check it out. There's also a blog post on here from Aug 3, 2019 "What to Do If You're Located in an Expensive Real Estate Market".

HAPPY INVESTING! And remember, every great success had to first see a failure or two (or three lol). What separates us is our determination and keeping our "Why" in the forefront. Why do you want to invest? Money is great, but if you have a deeper reason, that can get you through the tough moments!

See this reply in the discussion

11 Replies

Jump to latestLatest
  • Member since 2022 · 25 posts · 14 votes
    4y

    Hello @Marceline P. and welcome to the club! I understand the challenge with investing in an expensive market. There's a Bigger Pockets YouTube video I found really helpful. "How to Invest in an Expensive Market and Live Rent FREE!" you should definitely check it out. There's also a blog post on here from Aug 3, 2019 "What to Do If You're Located in an Expensive Real Estate Market".

    HAPPY INVESTING! And remember, every great success had to first see a failure or two (or three lol). What separates us is our determination and keeping our "Why" in the forefront. Why do you want to invest? Money is great, but if you have a deeper reason, that can get you through the tough moments!

  • Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes
    4y

    Hi Christine,

    Thank you for the advice and encouragement! Funny enough I started watching that video a few days ago, but heard the partnership route and it made me nervous. I will watch the whole video this time & I will check out that blog! I wish you the very best in your investing journey as well!!!!  Is there anything you've implemented that has helped you in your journey?

  • Member since 2022 · 25 posts · 14 votes
    4y
    Quote from @Marceline P.:

    Hi Christine,

    Thank you for the advice and encouragement! Funny enough I started watching that video a few days ago, but heard the partnership route and it made me nervous. I will watch the whole video this time & I will check out that blog! I wish you the very best in your investing journey as well!!!!  Is there anything you've implemented that has helped you in your journey?

    The number one thing I've implemented is just being honest-- being me. I believed real estate investing was for the upper class with BIG POCKETS and I felt like I needed to talk a certain way and carry myself a certain way. I had a seller tell me once he had multiple investors at his door who were...let's just say all business. He chose me because I was more genuine. I had the same thing happen with an older lady. I stopped thinking I needed to be a certain way and stuck to just being me. 
  • Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes
    4y

    I'm happy you've found success with that & I agree with being yourself (even if development is needed), no one like the original! Thanks again for chatting with me.

  • Member since 2022 · 25 posts · 14 votes
    4y

    No problem at all!

  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    4y

    Welcome to BiggerPockets, Marceline!

  • Investor · Columbus, GA · Member since 2015 · 190 posts · 79 votes
    4y

    Hello @Marceline P., Welcome to BiggerPockets Community! Best of luck on your investing journey!

  • Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes
    4y
    Quote from @Julio Gonzalez:

    Welcome to BiggerPockets, Marceline!

    Thanks Julio!
  • Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes
    4y
    Quote from @Dan Wynn:

    Hello @Marceline P., Welcome to BiggerPockets Community! Best of luck on your investing journey!

    Thanks Dan!
  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
    4y

    @Marceline P.

    Welcome to Bigger Pockets!

    If you are looking to invest into real estate, I have found this site to be incredibly helpful.

    If you are looking to connect with other members near you, or want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users


    I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

  • Investor · Bklyn, NY · Member since 2022 · 13 posts · 7 votes
    4y
    Thanks Justin

    Quote from @Justin Windham:

    @Marceline P.

    Welcome to Bigger Pockets!

    If you are looking to invest into real estate, I have found this site to be incredibly helpful.

    If you are looking to connect with other members near you, or want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users


    I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts


Join the conversationCreate a free account to reply, vote on answers and follow this thread.