All Forum Posts by: Thomas D.

@AL-Teef Jones Hey, wondering how this deal went! I am in a similar situation, looking into a Uni Heights house hack. Were you able to secure a good deal/financing?

@Jamila Thompson welcome to BP Jamila! I too studied engineering and graduated a year ago - always cool to see the different challenges engineers choose to apply their broad skillsets to! As Raul mentioned and I'm sure you know, NYC is very expensive, but that said, there is a massive "surrounding area" to speak of - within an hour of the city there are certainly markets and deals in all directions that make sense, even for cashflow. I work and live in NJ, within an hour of NYC, and I'm looking here - markets that are commutable into NYC are obviously especially attractive, but do your research.

As someone who is personally guilty of analysis paralysis, there are more free resources out there than you can possibly dream of extinguishing. The hardest part is sorting through it all without getting overwhelmed. Continue to use BP podcasts and forums, blog articles, and read those ~10 cornerstone books you always see people on here posting about. They will do a lot to make you comfortable with the basics. Beyond that, I've found it's really just better to start "taking action" (as cliche as it sounds). Talking to realtors in your market and analyzing deals, once you're ready, is probably more useful than a course or conference, at least at first. Personally, I spent too much time trying to study every last REI concept before realizing it wasn't fruitful. That's my two cents - best of luck!

@Satha Palani Wow, thanks for that breakdown! Super helpful and reassuring that I'm headed in the right direction.

@Satha Palani I know I'm a few years late but curious how your search went. I'm currently undergoing a similar process interested in the city center area.

@Quinyana Mosley I am in a similar position, along with many others in this thread as well. Best of luck to you! What areas of NJ are you looking into?

@Jacques Simon Thanks for starting this great thread! I'm a potential investor still in research-mode hunting for my first deal (small multifamily) and have been drawn to Newark for various reasons (although have been a bit dejected to find many believe that appreciation has already driven away all the good deals). Started full time work in the Central Business District this year, so hoping Newark will be a promising city in more ways than one moving forward!

thanks @Odie Ayaga ! I'll make sure to check that out.

@Dan Tisser Welcome Dan! I'm in a similar situation but on the NJ side of things, taking NJ Transit to work every day, reading the same books and having the same thoughts lol. Its amazing how real "sitting on the commuter train and daydreaming about financial freedom" habit is! Good luck!

@Patrick Flanagan Hey, welcome to BP! I'm also looking into rentals in NJ, but I went to college in Hoboken, so I think my college town is a little too pricey for me lol. Good luck on your journey!