I work for a real estate tycoon in NYC serving in the capacity of a leasing manager for a multi-unit/multi-building portfolio, past 8 years.
However, I personally do not own and are looking for strong markets within the tri-state locations to venture off into for long term investments. Not looking into NYC for sales are at its peak. My goal is to begin by Looking to flip then flip ... Then profit...invest profits into a single higher end turn key hold property. Then start again, Flip, then Flip...then profit... Invest profits into a single higher end turn key property. Then use the healthy rent rolls to vest into another turn key property. So on and so forth..only turn key investments until I am quite skilled.
has anyone every taken this investment approach. What are some obstacles from a season investor that I can expect to run into?
In addition, where would you best in the outskirts/countryside of NYC?
Thanks in advance for your friendly comments and insight. looking forward to learn more....have to love this industry.
why buy TK if you can flip? Why not just do fix and flip and then get into a rental at a great price because you used the same strategy? Also, most TK is B class not A class because that is where the cash flow is.
You can try PA, I hear that it is a decent market as long as you are carful
Hi and welcome to BP! I'd look at Philadelphia (low taxes) and Trenton (higher taxes) for some good opportunities in hot markets.
I have been working in RE in Broooklyn for the past 7 years too, and now looking to invest outside of NYC as well.
I am interested in Philly and Dallas / Fort Worth. Both areas have lower re taxes and good prices and so far as I see good c/f.
whats great is seeing rei working for a property tycoon.a mentor for flips would reduce the learning curve
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!