Getting that first property is exciting—and yeah, NYC is no joke when it comes to price of entry.Honestly, a lot of people I’ve talked to in your shoes end up finding better opportunities just outside the city.

Now investors, especially the newbies, are chasing returns by going after higher risk investments - many NOT really understanding the true risks.Many more investors will be losing money and choosing to liquidate real estate - which will be buying opportunities for the better prepared investors.

An algorithm will probably tell you that undesirable property is an amazing "value add" opportunity. 

And if you’re into marketing, knowing your way around Canva or even basic social media scheduling tools would be really helpful too.Finding a gig might take a little effort, but there are so many opportunities out there.

The market here offers a lot of potential.I highly recommend making a trip here to get a feel for the different neighborhoods and understand where the best opportunities lie.

It could be a nice opportunity however I would be certain they will want you to make up the difference between $250,000 and whatever is left on the mortgage which btw in my opinion should be done with lender's knowledge and approval. 

When scouting for properties, explore areas on the west side as well as some parts of the east for potential opportunities.

Whoever gives me the most business and has an excellent close record will first be presented with off-market opportunities. 

Since seller-paid fees usually cover their services, you get local expertise without additional expenses.Final ThoughtsLive where you like, but invest where you can achieve financial freedom.Out-of-state investing has proved to present excellent opportunities.

Not to mention what is your opportunity cost on that?