New York, NY · Member since 2017 · 10 posts · 5 votes
I just started to listen to some biggerpockets podcast, but initially I found you biggerpockets through reddit. It seems like the consensus is to pay off my student loan first, which I have about $41K ( i have 3 loans: one is 7% and the other two is 6.5%). I live in NY and I make about $90K with my living expenses to be around $900 without considering food.
what do guys think? I want to see if i can buy an apartment (2-4 units) wherever in the outer boroughs.
Real Estate Investor · Thornton, CO · Member since 2015 · 65 posts · 42 votes
9y
Look at the BRRR strategy in the education section here on BP for a good plan for you to get into a 2-4 unit.
Keep in mind NYC properties are going to be a PITA in up keep and don't appreciate.
I'd look into NJ for this strategy. Plus try to find a partner to go in with you. You should have plenty of co-workers that could put in $25k with you via cash or perhaps thru a self directed IRA.
Make it happen and Welcome to BP!