House Hacking in NY - Upstate or LI

[Quentin Thiery]

Hi BP forum,

Hope everyone is well! I am looking into house hacking a 2-4 unit property in the near future, yet since I live in New York City, and it is close to impossible to house-hack where I'm out without some serious funds, would any New York investors particularly recommend investing in upstate New York (Tarrytown, Albany, Saratoga, Hudson, or any other cities) versus investing in Long Island. Both options have some schools that I would interested in renting out to students and both have enough local economic strength that both would make sense. Essentially I'm really try to narrow down a target market that I can start investing and not sure whether to head east or north! Any feedback about good locations to invest (also open to Tri-state area too! CT and NJ) and any feedback about some house hacking tips is always incredibly helpful. Thank you in advance for your wisdom!

[Abel Curiel]

Hello @Quentin Thiery!

Long Island will have higher PP and property taxes than, say, Albany/capital region. Albany/Troy/Schenectady is a better option in my opinion. Triplexes in these areas are half of what a L.I. duplex would go for. UA & St. Rose nearby help you get in front of college students.

@Nate Monson is a great contact in the area.

Best,

Abel