yonkers ,mt vernon, the bronx which market is better

[Obreight Ingram]

hello guys. Iam new to bigger pockets and I would like to toss out some ideas that iam having regarding my first home purchase. Iam currently analzing the yonkers ,mt Vernon- and Bronx realestate markets. my plan is to p-urchase a 2 family home to receive rental income while iam living in the property with my family.this property will eventually be fully rented  after I transition my family out.my question is which market do you guys think is better . iam trying to desperately capitalize on either on going gentrification or gentrification that will happen in the near future. Iam currently a harlem resident who is priced out of his own neighborhood. I refuse to be bitter, instead I'm looking to find the next harlem. mt Vernon has high taxesand no planned development anytime soon. theup and coming areas  in yonkers seems like it has away to go and the Bronx seems to have the most potential right now due to the fact that its already gentrifying at a high level.In other words do I jump on the Bronx train now. or get a better deal in Westchester aka yonkers and mt Vernon that should gentrify at a later date

[Jaysen Medhurst]

Hi @Obreight Ingram, welcome to BP. I used to live in West Harlem, 136 btwn B'way & Amsterdam.

I don't recommend chasing gentrification (appreciation) while you're first starting out. That's not investing, it's speculation. Sure you can make a lot of money that way, but you can also lose your shirt and you've got a family to think about.

Secondly, Mt. Vernon and Yonkers both have terrible school systems (compared to the rest of Westchester), so they won't draw families the way Rye, Harrison, and other towns will. Typically, gentrification is led by young arty kids looking to do their thing in a cheap place (that's what happened in the SoHo in the 60s-70s and BK now.

Maybe the Bronx is next to gentrify, but who know. That's more likely IMO.

NYC and Westchester are tough for new investors for a bunch of reasons. High prices, low cap rates, high taxes, tenant-friendly rent laws...the list goes on and on. It's also difficult to make a duplex work as a true investment property. Reason being you only have 2 units over which to spread all the fixed costs, like lawn care, snow removal, etc. Plus if 1 unit goes vacant.

Have you considered areas a little further North? Tarrytown and Ossining can be more affordable, plus an easy commute to the city.

Good luck!