All Forum Posts by: Kimberlee Nadine Hill

@Kimberlee Nadine Hill

Welcome to biggerpockets.

You will find it that many investors who live in NYC face similar issues that you are facing with the high cost of real estate in this area.

It is great that you once lived in areas that are cheaper than NYC. You will likely have a competitive advantage in those areas than other areas since you know those areas. You may know which blocks are areas to stay away from and those that are more prone to appreciation.

You may want to attend a couple real estate networking events in NYC to connect with other investors and see what others are doing.

Good luck in your investing career!

Hey Kimberlee,

Welcome to BP! I'm fairly new here myself. I haven't read the book, but if you're considering investing outside of where you live (or reasonable driving distance) there's a book written by a BP big shot called Long Distance Real Estate Investing (by David Greene I think). I've heard it's great for laying out a road map of overcoming long distance REI challenges, while also providing steps on jumping into real estate investing in general. Good luck!

@Kimberlee Nadine Hill welcome! Good for your for following you're interests. I gotcha about investing in NYC - I think Baltimore had a lot of promise - I hope you continue to evaluate opportunities there. I'm down the road from Charm City in Maryland; reach out if I can ever be of any help to you.

@Kimberlee Nadine Hill welcome! Good for your for following you're interests. I gotcha about investing in NYC - I think Baltimore had a lot of promise - I hope you continue to evaluate opportunities there. I'm down the road from Charm City in Maryland; reach out if I can ever be of any help to you.

@Kimberlee Nadine Hill I forgot to say educate yourself about real estate RIF ( READING IS FUNDAMENTAL) real estate and self improvement books, podcasts recommend real estate investher podcast with @Elizabeth Faircloth and @Andresa Guidelli, BP PODCAST and there are more. Just educate yourself no matter where you are in your investing journey.

Hey Lawrence

@Kimberlee Nadine Hill Welcome to BP! Honestly, all three options sound decently well thought out. I know a lot of first time investors start with house hacking (your option 3). I think it's a great idea for getting started. I'm also in a high cost of living area (Southern CA) and have chosen to invest out of state. I haven't bought my first out of state property yet, so I can't speak to it, but the idea is a little scary, I won't lie. It would be helpful to have family, or be in driving distance of the area so you can be more familiar with it. Either way, good luck!

Thank you Danielle. It's very scary to get the first one let alone add in all the variables. Out-of-state makes me nervous. I feel like I should have a little more experience hence my teetering on the brink of house hacking where I live. Gotta do some due diligence but hopefully by early next year I will have made a good decision. Wishing you very good luck too. Look forward to seeing how we all do going forward.