If your rent to value ratio is below 0.9% I would stay you are gambling on appreciation and only competing with foreign investors looking to launder money and investors with much bigger pockets only looking for capital preservation at less than 5% a year.

Memories are conveniently bad, etc.Sometimes (being honest) I'm more interested in saving certain conversations until later in the project that way everything gets started. 

The Crown Heights area close to the 4 / 5 train has very good duplexes and is a convenient commute to Manhattan.

I think that you SHOULD have around that much before buying a real estate investment, IF you are doing this part-time, and IF you are investing in some place that is not convenient for you.I started with $20K and bought a $240K duplex.

You give up a degree of hands-on control in exchange for convenience and reliable passive income.

There is no prepayment penalty so I can refinance at my convenience.

I'll send you a PM to schedule a call at your convenience.

If you're thinking it is a short term play (10 years or less), you're probably gambling quite a bit and being speculative at the very least.So you lose a closet and you don't have to get in a car to deal with tenant issues.

My plan so far is as follows:Stop by and knock on doors in the early evening with a gift (like a gift card to a local chain of convenience stores) and a letter of introduction loaded with a couple of business cards.If I get to talk to the occupant:1.

Why would there be bargains, if everything sells for full price in a very short time.Now if your financier insists on buying property, fully aware we are late in the cycle, and wants to gamble on appreciation in a highly cyclical sector then fine.A multifamily with no mortgage imho would be a much better proposition for you both as it will throw off cash and survive a change in conditions easily (without a mortgage)It wont be a bargain, but relatively safe