New to RE Investment Journey - Finding my Niche

[Marceline P.]

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

[Christine Lee Middleton]

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!