Updated almost 9 years ago on . Most recent reply
New Member from Queens, NY
Hey BP members,
New member here from Queens, NY. I just recently moved in to an apartment in Long Island, and I am looking to purchase a home for my wife and myself. We have been looking into duplexes in the LI area for the house hack, but have yet to find any that we like for ourselves to live in.
I have read the beginner's guide, and many interesting books thus far (Contrarian playbook; investing in duplexes, triplexes and quads; Rich Dad, Poor Dad, etc.) and have been devouring the podcasts.
I know a lot of people say money can't be made in this area of NY, but based on the numbers I have been running on 2-4 family homes, the numbers seem to work. Why is it that people say that this area is bad, is it because the large amount of money that is needed in order to cash flow?
Anyway, we are now still considering this house hack, but are also looking to buy a single family home for a "live in flip" and perhaps purchase individual investment properties out of town. (FL, PA, upstate, etc).
I'm here to contribute anything I have learned thus far, as well as connect with anyone whos interested in pursuing deals.
Nice to meet all of you!
-JM