All Forum Posts by: Eric A.

Hello BP, I've recently decided I'd like to try and house-hack with an FHA loan in NYC. I currently rent an apt in Park Slope, but obviously I'm priced out of buying here. Due to limited cash in the bank at the moment, FHA is pretty much the only way for me to get in the game.

Can anyone recommend decent neighborhoods in either Brooklyn or Queens, where I can find something near the FHA limits? Ideally they'd be safe neighborhoods with solid appreciation upside. My purchase price limits are roughly:

2 Family ~ 850k

3 Family ~ 1mm

4 Family ~ 1.25mm

I started looking this past weekend, but the buildings were in depressingly bad shape or had bedrooms that were 6 feet wide (I have a family).  Thanks guys, I'm really trying to avoid moving to Jersey, but I am also eager to begin my RE journey.

Alejandro, what is it about the Colombian market that leads you to believe there are better deals here in the U.S.?  I ask because I'm considering doing the reverse.  I'm based in NYC where it's basically impossible to get in the game unless you have $300k sitting in cash.  I'm originally from Colombia and have lots of family in Medellin and Bogota, but I don't know anything about the RE markets there.  Care to share your thoughts?  Thanks.

Juan, I'd love to chat some time about this topic. I live in NYC but born in Colombia. My mom and most of my family still live in Medellin and some in Bogota. I have no knowledge of the RE market down there, but very interested to learn more. Send me a direct message when you have a minute. 

Does anyone have a referral for (or is anyone here) an experienced Brooklyn real estate broker or agent who can help me with my strategy of finding multi-family investment properties in emerging neighborhoods and renting them out to tenants?

Important: I'm seeking someone who holds at least one real estate investment property of their own please.  Send me a direct message or respond to the thread.  Thanks!

Eric

Brooklyn, NY

Betty, what towns upsate are they going to?  I know I've heard many former Brooklynites have ended up in Beacon, and possibly Woodstock.  Any others?

Count me in please.