Long Island Market- Sink or Swim??
Hey everyone. I am extremely new to real estate and want to begin investing within the year. I live in Nassau County on Long Island, one of the most expensive places to live in the country. As I begin to research houses for sale on the island, I am beginning to question if purchasing rental units here can ever be profitable.
I know a few people who own multifamily homes around here, and said they just about break-even. I know that you need to find a really great deal to make money here.
Does anyone have any good experience investing here on Long Island?
After joining BP, I am beginning to realize that its not necessary to live close to the area investing in. I used to think I need to live close to my investment but now see that so many of you guys purchase without seeing the places. Just starting out, I think it can be very advantageous/inexpensive to invest in markets outside of Long Island.
As I said I am just starting out and trying to learn as much as I can, so any advice is appreciated.