House Hacking in Manhattan, NYC

[Max Dauer]

Hello, 

My name is Max and I am graduating college within the next year. When I graduate, I will be moving to Manhattan, NYC where I am hopefully working. I am looking to get started in my real estate journey through house hacking. I have good credit and enough money saved up for a down payment. Does anyone have experience house hacking in Manhattan? Is it worth investing in Manhattan given the high property values, tenant-friendly laws, and rent stabilization? Am I better off investing out of state? For some context, I am more interested in investing for appreciation, not cashflow. However, I am not interested in investing in areas that will yield negative cashflow. Any advice is appreciated. Thanks!

[Simon Ashbaugh]

Hey Max, while appreciation is a possibility in this market, growth might be more gradual compared to dynamic, up-and-coming markets offering both cash flow generation and appreciation potential. If you're considering venturing beyond local options, having a systemized approach is crucial to your success. Establish your Core 4 to Real Estate Investing.

Building a strong team of professionals helps you navigate unfamiliar territory and maximize your investment journey. This includes a reliable real estate agent who uncovers good deals and connects you with experienced property managers, contractors, and lenders, ensuring a smooth experience. Hope this helps!