House Hacking In Queens NYC

[Joshua Fabian]

Hello! 

My name is Joshua and I am interested in getting involved in House Hacking. I currently live and work in NY as a Aircraft Mechanic and would like to purcahse my first property this year. I am not limiting myself to solely purchasing homes in the New York area, but I would like it to be a manageable driving distance to work. 
From what I understand I can apply for an FHA loan on a multiple-family as long as I live in the property for a year. A strategy I learned from Brandon Turners' "The Book On Rental Property Investing". However, I see that the housing market expects the buyer to pay a premium even with the current unemployment rates and the uncertainty of how long these governemnt assitance programs will prevent foreclosures. I am still reading and learning and wonder if I should also get a real estate license to work with a local real estate agency while waiting on the sidelines. Any help would be greatly appreciated.

[Nick Riccio]

Hey @Joshua Fabian awesome job on getting started! I would agree that multi family property prices have not reflected the current rental market risk. I would say, I think a lot of that is mitigated when you are house hacking - so it might be a great time to get started, especially in NY. 

As far as being an agent, I would only pursue that if it's a passion of yours. If not, I'd rely on an expert that commits themselves to it on a daily basis!