I am actually from New Rochelle and we have a restaurant out there.

Originally posted by @Rochelle Gemuenden:@Alexander NasonI’m sure everyone replying to your post means well, but this is something to consult your actual lender about.

I've been searching around the Yonkers/New Rochelle and Stamford/Greenwich area and the cap rates are incredibly low; almost not even there.

I live in New York too, a little more upstate but have worked and am planning on moving actually down to New Rochelle at some point.

You should also look into Yonkers, New Rochelle, and some of the Jersey river side towns.Best of luck in your search!

Thanks in advance, Rochelle

ditto @Adam Schooley.

Here are the key questions to think through before you get it going:1) what do you want to buy2) how much can we afford3) how will you pay for it 3) what are you going to do with it afterHere is how we tackled this challenge:1) Find a reputable and responsive agent to work with: we worked with @Sharon Tzib2) Get pre-qualified with a good and local lender that work with investors: we usedd Rochelle Frazeur from New American. 3) Use some good MLS criteria to set up lists with your agent3) Find out how to identify a good deal: We got our hands on some good cash flow analysis calculators (thanks to @Sharon Tzib) and we used the calculators on BP as well4) Make neighborhood visits to those areas of your interest5) Find other venues to meet up with other investors or go to workshops and meet up's: We've attended BP meet up in Houston, events with Jet Lending, meeting with Wholesalers, and we've met one-on-one with other investors6) Look for non-MLS sources to find properties for sale: wholesalers, and local listing through Rich club or word of the mouth7) Talk to the property manager if you are planning on using on.

Vernon, New Rochelle, White Plains, Tarrytown, Portchester and others.

We are in the process of purchasing a one bedroom co-op with a private beach property in new Rochelle ny.