Newbie-Rockland County, NY

[Alan S.]

Hey guys,

So here is my story.  I've been listening to the podcasts, audiobooks, etc. and want to get started ASAP.  My wife and I both work full time jobs and earn roughly $400K gross annually and both have excellent credit.  We bought a home last April and figuring that we would start investing soon, the mortgage is only in my wife's name.  We have conservatively $200K equity in the house after doing some home improvements but most likely more considering a recent sale on our street that is a good comp.  We have about $150k combined in our 401k's.  We have some cash in the checking/savings but using it for our expenses/emergency funds and would prefer not to touch it at this time.  My thoughts are to start with a multifamily and then mix in a flip here and there but I would like to hear some of your opinions on how best to get started and how best to finance that first property in my situation.   I'm leaning toward Rockland, Bergen (NJ), Westchester and Orange Counties as they are within an hour drive time for me and would love to hear from some experienced investors in those areas.   Thanks in advance.