Newbie investor in NYC!

[Dan R.]

Hello BP community!,

I just moved to Brooklyn with the idea of investing in RE in the area. I have been doing my homework and I know NYC is probably the toughest market in the US, but still hopeful that I will find some deals.

I have RE investing experience but outside of the US which is very different, but still mortar and bricks. 

I've been a long time follower of BP, but this is my first post. Would love to meet up with seasoned investors in the area, getting advice and exchanging ideas. Also looking for off market deals and off listing brokers as well. 

I'm mostly interested in 2-4 multifamily or mixed use, but  I'm open to all possibilities, rental income, flipping, investing outside NYC, partnering up on deals, etc. I'm in the US because it is now one of the fastest growing economies in the world, cheap credit and lots of exciting possibilities!

Thanks everyone!!

[Paul Timmins]

@Dan R.

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). You can Google to locate them and go to meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul