Advice For A Newbie Buying A FourPlex in NY

[Glenn Brathwaite]

Hello everyone , I’m 26 years old I have a stable income and I am looking to buy a multi family 3 units and up. I have never owned a property. Someone will co-sign with me if necessary. My issue is New York is quite pricey and I’m not sure if it’s the right place or and obtainable goal in NY.

I was hoping to get an FHA loan to make this a possibility. My credit score is above a 760 and I don't have much debt. I'm also open to going the Hard money lender route to do a BRRR.

Realistically I don’t see my self leaving New York to get a property. I’m open to all suggestions about financing and loans.

Thank you all in advance !

[Brendan Miller]

@Glenn Brathwaite I like your strategy of going after a fourplex and house hacking it. If you're flexible in terms of where you live in NY, then you can look for parts of the state that offer fourplexes within your price range. The other option would be to reduce your criteria to either a SFH, duplex, or triplex depending on the price, and still take advantage of the FHA loan. I think the important aspect is just getting started.