BUY in nyc or out of state ?
Hey everyone! I want to begin my investing career but not sure where to start , I make about 20k/year w2 and another 20k from tips , I currently am renting in nyc for $700 a month , I have 65k cash saved up . And another 9k in stocks, about another 1k in crypto currency.I️ was wondering if you were me , what would be the best way to put myself in a better position for the future . My ultimate goal is to build up enough cash flow to where I no longer have to work for other people, do you think I️ should try to buy a rental , or should I️ try to get my foot in the door somewhere here in nyc so I️ can eliminate my rent. Any input , any advise is welcome!
Also , moving out of NYC is not an option . I live with my parents and they do not drive, nor do they speak English . so house hacking in nyc is the best option for me. But what loans/ strategy can I use to get my foot in the door here in nyc ?