Options in NYC to invest in real estate as a beginner?

[Altus Szawlowski]

I'm am a fresh of the boat real estate investor with no deals under my belt. I live in NYC and I want to know what type of real estate technique are viable in NYC or surrounding areas to make money. Does wholesaling work? Do fix and flips work? Do lease option deals work?

Again I am a new aspiring real estate investor so I'm sorry if this seems like a stupid question.

[Amit Kal]

Hello Altus. I'm from NYC as well. How deep are your pockets? As you can obviously tell, it's incredibly capital intensive to invest here.

When I started out 13 years ago to by my primary residence, I looked at 100's of places in and around Western Queens (including tons of coops in Jackson Heights) before I finally bought a place. After paying that off in eight years, I started looking again but the market was crazy and then crashed so I sat on the sidelines, saving and kept looking for several years before finally pulling the trigger on a six-family building in Sunnyside - I put $300k down, and used a cash out refinance on two other properties for the other $550k. So now I effectively had this building free and clear. Then the real work began. Over two years I invested another $250k to upgrade 4/6 apartments and increased NOI by 64%.

That's my story and how I did it.