New member from upstate New York, currently living near New York City (NYC)

[Christopher Pray]

Hi BP,

My name is Chris Pray. I'm originally from Queensbury, NY. I went to college in Potsdam, NY. I recently graduated with a bachelors degree in computer science and mathematics in May. I got a job as a systems engineer in Yonkers, NY and I currently live in Jersey City, NJ. I'm new to real estate, but it's always been an interest of mine. I feel that the time is near to start investing. Below are some of my goals. Please feel free to comment or offer advice.

Year 1:
- find an apartment to rent that's closer to work (I commute about 1 hr, 45 mins one way)
- pay off debt (~$10k student loans, ~$5k car, ~$3k credit card @ 0% apr for another yr)
- live frugally and save as much as I can (my goal is to save $20k)
- learn as much as I can about real estate investing

Year 2:
- decide on a market to invest in (*)
- decide on a strategy (leaning towards buy and hold, either single families or small multi-families)
- start creating systems for marketing and lead generation (I think this is key for my long-term goals)
- possibly start making offers (depends on financing and location)
- save money from job income (goal is $40k)

Years 3-5:
- make deals
- seek higher salary


(*) NYC and its suburbs are quite expensive. I'm not sure if I want to, or if it's wise for someone like me to, invest in this area. My girlfriend and I have dreams of traveling, so considering other markets is definitely an option. I don't have plans on moving away from NYC, but it's not out of the question for the future. Regardless, I'll be on the hunt for a market with homes under $100k that has a growing number of technology jobs, as I plan on staying in this career at least until I can replace it with investment income.


Thanks for taking the time to read my post. I'd be interested to hear from anyone, especially if you are in the area.

-Chris