Buying First Multifamily in NYC (Newbie)

[Khyati Zala]

Hi everyone! I've been listening to BiggerPockets podcast for a couple of years now and I still don't know how to get started in NYC's market. I'm a new grad nurse practitioner with no savings. Multifamily properties here are $800,000+. I'm flustered as to how to realistically get started here (I'm born and raised NYC). Any tips or guidance would be helpful! Thank you in advance! :) 

[Basit Siddiqi]

@Khyati Zala

The further out from NYC you go, the less likely prices will be as high.

If you are content on house-hacking in NYC, @Damon Bodine has done some extensive research on potential house-hacking areas within NYC.

No Savings is definitely a deal killer though. You need atleast 3.5% of the purchase price + closing costs + 6 months of reserves.

best of luck