., so competition is more intense at the top of the market.

Hello everyone I’m from nyc and I’ve been undecided on whether I should start my wholesaling business here in NYC where the competition is highly competitive and and the prices on houses is very expensive or should i maybe try to focus on another local market such as NJ or Pennsylvania?

Originally posted by @William Fritsche:I was also thinking 10% was High and I only charge 8%.Something to think about Paul.Two things to think about: you get what you pay for, and cheaper isn't always better.I charge 11% while my "competition" charges 10%.

Some down sides to a vacation rental as a newbie investor are:- Large 20-25% down payment- Management heavy, maybe even 30% of Rent-You don't have as much controlIm a big believer in starting out local, getting your hands dirty a bit, learning the basics, then fine tuning your investment criteria and strategy. 

(please say yes) Also too early to talk about the heavy cost of LLC and more expensive commercial loans. 

This will give you a leg up on the rest of the competition at your age. 

My intent is to close on, reposition and resale in 5-7 years a great value add opportunity well under cost of replacement in the area based on the following criteria:Units 70-120age range 1980-2005class B & C, workforce housingSouthern Austin MSA & Northeast San Antonio MSAI know it's a very competitive market and that there will be some challenges as we get through the current environment.

In that respect, the competition may die off a bit and the ridiculous prices over offer will probably die down a bit, along with the waiving of inspection etc.

Stiff competition continues in this area.

Multifamily has gotten more competitive in many markets so properties have exchanged hands multiple times diminishing the margins.