Aspiring 23YO Investor in NYC

[Jamila Thompson]

Hi everyone, I am 23 years old and I am also a civil engineer. I currently live in NYC, but I am looking to move to a property in a nicer area that can also serve as an investment property. I have been looking at Westchester and CT. I have 25K (still growing) towards this investment. Can you give me some advice on what I should look for when searching for a property? Does it matter if I choose a multifamily or a condo? 

[Jon Reed]

With 25K... I would look at buying a 4 plex and living in one of the units. Get a FHA loan and make sure you keep $5-10K in reserves to cover any unforeseen issues.