Newbie from Far Rockaway, NY!

[David F.]

I'm an educator from NYC with a family in tow looking to produce a little extra income (alright, ...maybe a lot extra) during my off time, and I've been browsing around the forums and blogs. It seems that in the city there's not much opportunity for affordable starter investments, I'm wondering is there's anything on Long Island? Is upstate the only answer?

I haven't got experience at all but I'm thinking of looking for a MFR that requires light rehab.

Any ideas of where to start?

[Paul Timmins]

@David F.

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul