No matter what market, that's a terrible Cap Rate, even here in Brooklyn, NYC!

But, if you choose wisely and plan on holding for several years, you can make ALOT in appreciation.This has been the case with much of costal California, and booming urban areas like Brooklyn, NY.

Hey Matt,Im actually a registered nurse myself based out of Brooklyn NY. i began investing about 2 years ago as found myself in the same place you are in.. trying to make it work in our expensive area.

Quote from @Brooklyn McCarty: Bill Faeth just had a recent podcast about this.

It doesn't change the rules of just running the numbers, but these older studio units have some unique challengs for sure.Quote from @Brooklyn McCarty: Quote from @Chris Noles: Hi,We currently have a beachfront 1BR/Bath condo in Myrtle Beach that we acquired in 2022, and we are looking at possibly acquiring a second STR in another location.  

I'm actually living in Brooklyn as well, so I know how expensive it is here!

I purchased a fixer upper in Brooklyn,NY in 2005 for 440k that I renovated myself over the years.

Quote from @Brooklyn McCarty: So many resources at your finger tips. 

I am from Brooklyn NY born and raised but would like to invest in the Fairfield county (Bridgeport, Norwalk) area and New Haven area.

Hi Federico, @Federico GutierrezI purchased 2 in Cleveland, the first in Brooklyn and the second in Parma.