Hi! Looking to buy my first property. It has the be the RIGHT first one. I am looking for a multi-unit, yielding at least 500 in cashflow per unit with a 12-15% cash on cash return and under 300K. If there is a real opportunity that is more expensive, open to partnering. I am open to learning and networking. Message me if you want to chat and have similar interests! Joanna

@Joanna Golden

Are you looking to buy something in Westchester County that will give you $500 pure cashflow per unit? Are you buying all cash? I'm curious as to what areas do you think in Westchester will give you $500 cashflow per unit. 

@Ceasar Rosas has a great question there. Westchester county is a very lucrative market. Cash buyers are wrapping up inventory within weeks with cash deals.

@Joanna Golden have you considered other areas?

Agree with above posts.

I live in Rockland County, have a house in Westchester and I invest out of state at the moment.

New York has some problems.

@Evan Torrens I want to agree but I have to disagree. Westchester just happens to be an anomaly I think. Its the perfect storm for a correction.

Originally posted by @Christian Reyes :

@Evan Torrens I want to agree but I have to disagree. Westchester just happens to be an anomaly I think. Its the perfect storm for a correction.

I hear you Christian. Westchester is a BIG county. I’m sure you can find a deal and make it work. But the taxes are too high. And for that reason I’m out. 

Hi @Joanna Golden I agree with the other posters here - $500 per unit is extremely ambitious and under $300k is nearly impossible with those numbers unless you are planning to do a total rehab on the property first. I have a number of investors who are in the Westchester area and I would be happy to introduce you. I run the Rockland REIA and would love to have you out to a meeting sometime. Have you thought about looking into Rockland? Or even going further north on your side of the river?