Hey guys, so the first step i plan to take in my real estate career is house hacking. I am looking for multi-families in Brooklyn, New York. It seems the market is over priced and the only thing i see are short sales. I would be a first time investor so i dont know if trying to get into a short sale but it seems like that's the only way to get a deal. I am constantly using the BP rental calculator and i am no where near potentially making some kind of profit. I originally wanted to look for a multifamily in New Jersey because it seems more investor friendly but because me and my partner both have city government jobs in NYC, we are mandated to live here. Should i be looking in short sales and are there any ways to take advantage of them?
Is there a reason you're NOT interested in short sales? If you need to get a property soon then they probably aren't for you, but if time is not an obstacle they're a great way to find an opportunity that may scare off other investors
Time is not a problem for me so I guess short sales will be a definite option. Have you ever done a short sale?