All Forum Posts by: Anders R.

Hi Jason - thanks for the suggestion re. house hacking. One challenge for me, I think, would be the initial cost of a 2-family in NYC, or whether I would be open to going with a property a bit outside of the city to get a lower price.

My current strategy that I'm considering came from listening to BiggerPockets Podcast 408: Full-Time Income on a Part-Time Schedule with Emma Powell in which she talks about how her first REI deal was being a hard-money lender using funds from a house sale, and that it was really powerful because she was effectively being paid to be mentored (by the experience lender)

With that in mind, I am considering focusing mainly on just selling my current property, and maybe doing a house hack if possible, but prioritizing selling, and being able to use the proceeds toward a lending deal.

Hi Rich - great suggestion, will definitely look into FHA loans. Thanks!

I currently own a co-op in Brooklyn, NY, which I plan to put on the market, and then use some of the proceeds toward an investment property. (I also have a HELOC on my current apt, so may be able to leverage that.) Currently, my main focus is to learn, learn, learn.

My current main top question: how does one get started with RE Investing if living in NYC?

I read a lot about buying multi-family properties but I think those are outside my budget in the city.  Additionally, most apartments here are co-ops and condos, which don't seem to lend themselves to the strategies I've been reading about. Maybe I'm wrong?

Should I not even consider NYC for my first time investment property and be looking elsewhere?

Looking for any tips and advice! Also, if you are in the NYC area, please reach out!