Newbie Intro from NY

[Adam Suskin]

Hi BP, I'm Adam. I currently rent in Manhattan, where I work as a software engineer. I am brand new to REI and have been spending a lot of my time reading and listening to various BP forum threads, blog posts, and podcasts. Other than that, I generally consider myself a quick learner and tech-savvy, and I'm super grateful to all of you for having tons of knowledge available to soak up.

Fortunately, I have saved up quite a bit of money to be able to invest. Unfortunately, I'm at the pre-first deal jitters phase where I'm a little fearful to take the leap. I know there's still a bunch I can learn, and I'm definitely concerned about the knowledge that I don't even know exists.

My 2020 goal is to have a greater-than-zero passive income stream. I am pleased with my full-time job and would like to start building out a real estate portfolio on the side. It seems many people here advocate for a first-timer's deal to be a flip or house hack, but NYC seems super un-affordable for that, so I'd be interested in hearing other opinions on what other first-timer options are out there! I'd feel comfortable investing in Atlanta (where I'm originally from), but am also game for any ideas if the numbers make sense!

[Cassi Justiz]

Hey @Adam Suskin, 

Welcome to BP! Congratulations on taking the first step and reaching out to the forums. The first step (and purchase) is the hardest. I think getting involved in out of state investing is a great place to start, especially if your market doesn't make sense for your price point. There are tons of markets that cashflow well and have stability, you just have to find the one that you are comfortable with. I work with a lot of new out of state investors and I would be happy to walk you through what that process looks like. I think my process is pretty easy to replicate in any market, so it's definitely something that could be useful as you start looking into markets.

Best of luck! Feel free to reach out if there is anything I can help you with! (Oklahoma related or not!)