Starting out in NYC where do investors put there money

2 Replies

Hey I'm new. Well not really

I've been stalking the forums looks for answers to my questions but now Ive decided to sign up.

Heres my question;

I live in Brooklyn. I know that houses here are very expensive, even if they are in bad condition. Say in the high $200,000s at least. My question is do most investors in new york city spend their money investing in places onside the city? Like NJ or upstate New York? I know homes over there are much cheaper so the numbers would be easier to work with. Btw I am specifically speaking for fairly new real estate investors not people who are loaded with $$$.

Which area do you NYC wholesalers find properties? Where do you find properties if you want to do a flip?

Also if you want to use a HML to fund a flip lets say. Does the HML have to reside in that state for the deal to be approved?

How do wholesalers find investors? the only response I see here is the REI meetings.

@Ricardo S. welcome to the site .. Ny is def tough .. I live upstate (rockland) and invest down south because of the costs .. That said, it is possible .. Come to the bp meetup at pranna next Tuesday .. Great way to meet people and network with people already doing this around here

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