50k government salary, no debts, 80k accessible cash.

[Shiv Choythani]

Good evening BP'ers, If you were 30 years old on a 50k salary w/ great benefits, no debts with 80k in accessible funds. How would you begin your real estate investment journey with the idea of investing in NYC in what many say is a "sellers" market. Would you invest in a sfh, multi-F, rentals, etc. Would you wait for the market to cool down? What would be a wise approach with the given scenario? Any feedback is welcomed. Thank you.

[David Stott]

Shiv, I live outside of NY in CT.  I am from Rochester, and i have 8 rentals there that my brother manages for me.   

With 80k, you have plenty of downpayment for a package of properties that could then be seller financed. I have a package that I'd be willing to discuss with you, and then also coach you through the process as I've learned a lot through the BRRRR process over the past several years. My properties all cash flow positively, and together, we could explore the numbers and options, etc. Why am I wanting or willing to sell? As an out of state investor, i have risk that I'd like to lessen. Rather than own property, I'm willing to accept less cash flow by holding rentals in exchange for interest income as a private money lender. My loan to you would be protected through a lien in those properties. Anyway, get in touch if you'd like to talk further.