anyone in new investors looking at Westchester multi-family units

6 Replies

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

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.

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?

Allyssa Compton, Real Estate Agent in NY (#10401302091)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.