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Updated over 6 years ago on .

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Shanice U.
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Brooklynite: should I try to invest local in NYC or upstate?

Shanice U.
Posted

Hi everyone, I'm a newbie here to Biggerpockets and to the world of real estate investing as a whole. At this point, the only thing that I'm sure of is that I want to invest in a home that will generate income. I'm in my early 20's living at home with family in a rented house and figured it would make the most sense to house hack a 2 family home in Brooklyn, Queens, or the Bronx with my father as my partner to bring our max budget to $800,000 (renting out one unit and living in the other unit + basement). However, I've seen a number of folks invest in multifamily homes in upstate New York and wonder if it would make more sense to get something cheap ($250-$300k) somewhere upstate and to continue living in a rental. Seems like a silly question, but could the numbers ever justify investing while living in a rented place myself?