Aloha! Newbie... 8 yrs vested in RE for NYC markets...

4 Replies

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.

@Robert Madrid

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 

@Robert Madrid

 Hi and welcome to BP! I'd look at Philadelphia (low taxes) and Trenton (higher taxes) for some good opportunities in hot markets.

@Robert Madrid

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

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