NYC couple: Seeking 2/3/4 unit starter property (~$600k, Bronx)

[James Park]

Hi all -

This is Chris and Angela - we're excited to meet everyone! We're new BP members looking for a 2-, 3-, or 4-unit starter property in Bronx. Our price limit is approximately $600,000. We both work in midtown, and we're looking for a commute <45 mins to Grand Central or Times Square. We've already arranged financing and have an agent we're happy with.

We seek guidance on (1) finding a multi-unit starter property and (2) help with finding quality contractors. We're looking at South Bronx, Van Nest and Morris Park. Our 'dream' property is pretty simple - something that needs a bit of TLC, and that will allow us to collect enough rental income to cover our PITI. We're planning to use the 'house hacking' strategy to acquire a new property every couple of years, making improvements throughout our time living there.

Here are some more detailed specs of what we'd like:

- Approx. $600k, ideally post-improvements

- 2/3/4 units (occupy 1 unit, rent the others)

- Off-street parking (garage or driveway)

- Reasonably safe neighborhood - closer to Manhattan is better, but we would like to feel safe

- Neighborhoods in the process of gentrifying

Thanks all! We look forward to being active, collaborative members of the BP community!

  - Angela & Chris