Just received $70k as a gift. What next?

[Account Closed]

Hey all I just received a gift of $70,000. I prefer to live in NYC and house hack a multifamily but its still too expensive. I was thinking of anywhere within 40-50 miles would be next reasonable option. Any suggestions? Our jobs are located in Queens. We are currently renting for $1625/mo. Thanks

[Sid Leibowitz]

There are deals there. The taxes are contingent with the property. not all houses are the same taxes. An older multi requiring some work is possible. it takes energy and you have to be ready, willing and able to jump on a deal. Haste makes waste. You have to know what the value is and have vision.