New Member from Long Island, New York

[Maurice Ilao]

Hey everyone, 

My name is Maurice. I'm brand new to real estate and have never purchased any type of property before. I recently became interested in buying a home because I am currently living with my parents in a multi family apartment on the second floor and my parents aren't getting any younger.  I really wanted to buy a home for the family so my parents wouldn't have to walk up and down the stairs every time they left the house. With my savings and a little help from my parents, I started to look at multi family houses. I realized that houses in my area were way to expensive and a multi family would be the only option we can afford to purchase here. While doing some research on how to buy multi family houses i ran across this site and it's podcast. This site has been so motivating that I want to learn as much as I can and live a better life. Even my parents took notice of my new interest in investing and are willing to stay in our small apartment in order to make a more long term solution to either "buy and hold" and/or possibly try to "flip a house".  I work full time in Manhattan and don't think i have the time to renovate a house myself to flip. I think my best option is to buy and hold but what are your opinions.

Thanks in advance,

Maurice

[Linval T.]

Welcome to BP fellow New Yorker. Good questions and I certainly hear your voice regarding prices.

If you happen to find something within your price range, buy and hold might be a good start. You might also want to look at Freddie Mac or Fannie Mae sites to see if there is anything you can get, plus you can utilize the first time home buyer credit option.

Additionally, here are some tips to get you going on the site.

 Ok, now that you have taken your initial step, below are some quick links to get 

 engaged.

• http://www.biggerpockets.com/starthere
• http://www.biggerpockets.com/ubg
• http://www.biggerpockets.com/meet
• Setting up Keyword Alerts
• How to Use @Mentions on BiggerPockets
• 25 Tips for Real Estate Success

REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.

http://www.realestate.com/advice/buying-your-first-investment-property/