All Forum Posts by: Ariel Boyle

@Nadine O. I did something similar to this last year. My fiancé and I had saved up some money living with family (outside of NYC) during the pandemic and both finally landed remote jobs. We decided that we would move to wherever we found the first profitable side by side duplex as long as we could see ourselves being happy with the location. We felt more comfortable starting real estate investing with a househack and wanted to take advantage of lower cost of living.

Narrowed it down to the suburbs of Denver (we were previously living in Denver and loved it), Charleston, and Wilmington, NC. All of which were cheaper than where our families were in the suburbs of NYC. And all of which have a ton of people moving to. We were looking for cash flow and appreciation.

We landed a duplex in Wilmington,NC. It was the most affordable option and we live <15 minutes from the beach which is unreal. If you have any questions on how we bought from another state and our experience so far feel free to direct message.

@John Underwood I do those types of things during the days sometimes but I’m not financially independent. I just work remotely and my company allows for flexible-ish hours if you are getting all your work done. If a stranger asks you and you want to avoid talking about your financial situation you could just say you work remotely in real estate

@Ariel Boyle dual six figure*

@John Morgan you have some assumptions about millennials that aren’t necessarily accurate. Yes millennials are still buying homes but they are ages 26-41. They aren’t just starting to buy homes. Most of the ones that have not bought yet are priced out so the millennial demand pool is shrinking with growing prices and higher rates.

Anecdotally, I’m in the middle of the millennial age group and the only millennials I know who do not own homes are looking in the NYC suburbs, Denver, and Seattle or they don’t want to own to maintain flexibility. They are all dual six income couples who feel that they are priced out. I have other friends who bought in those markets a few years ago but the ones who waited say they can’t afford to buy.

I believe that a recession is coming but I don’t personally know the impacts it’ll have on the RE market. But I believe that appreciation will slow down.

@Joseph Scorese I was actually shocked how quick the Amtrak train is when I looked it up. I am unfamiliar with Philly to be honest. Do you have any neighborhoods that you recommend looking into?  

@Diana Tian What neighborhoods in Jersey city would you recommend? I definitely cannot afford waterfront/newport etc.

@Sal Mazzone I am most familiar with Tarrytown because I take the train there to go visit my Parents and have hung out in town there many times but you are right. I definitely need to pick my car up and drive around more in the other towns to see what areas have investment potential and which neighborhoods to avoid.

@Steven Kopstein I have been listening to the podcasts each morning and evening commute for a couple of months now, they are so informative I love them.  However, I do still need to check out the earlier ones. Noted on the picture, will probably add one today. I am definitely in New York for the long haul. I have lived in New York for my entire life except for a year and a half when I moved to Charlotte, NC for a job. Long story short I couldn't be away long from my city. My whole life is in New York so definitely banking on appreciation, but hoping to find a good buy that will get me a decent cash flow (as great of a cash flow as one can get in this area) so I can be in a better position to make more/larger investments. 

Also thank you all for the warm welcome!

Appreciate all the responses! In response to Sal, I so far have been looking at White Plains, Yonkers, Tarrytown, Sleepy Hollow.  I will also check out Elmsford too thanks for the suggestion.  Probably can't go up to Peekskill just because my commute to the Financial district would be too long.  I know the taxes are high but they were better than when I was looking at places in West New York, NJ surprisingly.

Angel any areas in Yonkers you would recommend or avoid?  I haven't spent time in Yonkers in several years to be honest.

John I thought it was a one time thing. Will definitely have to look into that. That is a game changer.

Any advice on target Cap Rates or ROI when looking at potential investments? I have seen some examples on the website for cheaper areas in the country so curious how you assess places in a more expensive area like this

Thank you Linval for all of the helpful resources!

Hi I am a newbie currently renting (throwing my money away) in Queens, NY, but looking to go into house hacking with a duplex or triplex in the suburbs outside of the city.  I am originally from Rockland County so looking into Westchester and Northern New Jersey primarily.  I am 25 and currently have no experience in Real Estate, except for the research I have done on this website and the people I know who have some rental experience.  Any advice is welcome from investors in the area or outside!

This is my first post on the forum. I am very new to to the world of REI and have been doing a lot of research on purchasing a duplex or triplex for house hacking. I am 25 and living in Queens so saving money for a down payment while paying high rent is pretty brutal so in my opinion house hacking would be my best bet to be able to start out in REI within the next few years.

I have seen many people on the forums who hire property managers for their rentals, but does anyone use one for units in a home they are actually living in?  I can't imagine having the time to deal with maintenance, showing the property, etc. while holding down my full time job and commuting most likely 1.5 hours+ each day (not looking to invest in Queens).  I also have no experience doing any handy work and have never personally owned a property before.

On the flip side does anyone have experience handling the management of a SFH multiunti they are house hacking, while holding down a full time job, with zero maintenance experience? Like I said, I am pretty new to this so maybe it's doable. Any advice is appreciated!