All Forum Posts by: Jay Hughes

Good evening everyone!

I just moved to the NYC area for a W2 and I want to start my real estate investing career. I am in my mid-20s so I have $60k~ saved up. But houses/apartments in Queens are so expensive and I'm not sure what to do. Should I start with buying and renting a single floor apartment? condos or find ways to buy multifamily units (going to get creative here). Any advice and guidance are appreciated. Thank you!

Cheers

Thank you so much for your insight, Danielle! For me, I would want to purchase a small property as my first deal, familiarize myself with the process and then buy more afterward. So ideally, having 20% down or more on the first and the following properties with some excess reserve at all times would be an awesome strategy. Thanks again for the comment and the feedback. I sincerely appreciate it!

J.

Hi everyone!

I am a newbie who's interested in learning more about real estate investing.

My question is: If you have enough money to buy a property in full should you do it or take out a loan and do a percentage down? I've heard that you can use the loan opportunity to build credit and credentials. While the unspent money can be used to invest in other properties or use it as a reserve in case something unexpected happens. I have gotten mixed responses before on other platforms, and I was wondering what the BiggerPocket community thinks. please let me know, truly appreciate it! Thank you all

Cheers!

J.