Updated over 2 years ago on . Most recent reply
What advice would you give for new Multifamily Investor
Looking to relocate to New York.
Probably Brooklyn/Bronx (maybe Queens?)
Beginning of the year.
Want to do a multi-family hack where we stay in part for a year or two.
Super competitive area... any pro tips?
Most Popular Reply
It is not easy to break even in NYC. Most likely you will have to pay at least something out of pocket monthly, but much lower than average rent. But also depends on how much downpayment you put down, how many units, potential etc. NYC is an appreciation market, not a cash flow market. You most likely will break even in the first 3-5 years, and that's the goal.