Getting started in New York

[Sarah Esposito]

Hello, I am 22 years old and my goal is to buy my first rental property next year. I have been educating myself on real estate however, I was wondering if anyone had advice on renting property in New York?

[Matthew Porcaro]

@Sarah Esposito

I bought a duplex in Farmingdale (Long Island, NY) in 2016.

There’s not a ton of 2-4 units outside of NYC, but they’re definitely out there, and absolutely worth the wait.

I think now more than ever it’s important to only focus on distressed properties and buy with a renovation loan like a 203k.

A lot of stuff on Long Island is getting overbought, and you don’t want to be caught up in the emotional buying.

I’ve been seeing foreclosures on Long Island trickle back online, from all the backup they had last year.

Just set alerts on all of the online platforms for distressed deals and analyze everything that comes into your inbox!