Purchasing my 1st Two Family Property in NYC. Advice needed
Member since 2025 · 2 posts · 2 votes
Purchasing my 1st Two Family Property in NYC. Advice needed
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Member since 2025 · 91 posts · 55 votes
11moJust want to elevate everything Abel said. Queens is fantastic. It's appreciated greatly-- luxury developments are going up all the time. Good luck!
Quote from @Abel Curiel:
Quote from @Keis J Patterson:
Hello BP Team, I have been watching on YouTube for a few years and am now ready to pull the trigger on my 1st Multi-family (2 unit). I will be living in one unit while renting the other in Queens NYC. I wanted to step through the deal with someone from the forum to ensure that this is a fiscally sound opportunity. I'm coming from the build and hold, short term rental, and commerical space mainly in partnership with someone. Advise from our community would be helpful. Thank you in advance.
Hello Keis,
Queens is a great place to begin your 2-unit search because it has nearly 750 available 2-family properties.
The majority of these listings are listed in the Central, South, and Southeast sections of Queens i.e. Woodhaven, Ozone Park, Richmond Hill, Jamaica, etc.
Plenty of other options in the North and West sides of Queens (Astoria, Elmhurst, Woodside, East Elmhurst, etc.) but your pricepoint will be a bit higher vs. the Central-South areas.
Overall, I like your strategy of househacking. Queens typically has larger lot sizes when compared to Brooklyn which could mean more access to private parking (driveway, garage) and other benefits.
All the best to you on your search!
Abel
7 Replies
Hi Keis,
Welcome to the community! Maybe edit the title of this post to attract local agents.
And maybe try out the deal calculators on this platform, I believe you can analyze 3 deals for free -you didn't provide any numbers here for us to really chime in.
It doesn't sound like this is your first cruise so I'm assuming you have a team assembled and cash reserves in place to cover vacancy/cap x, and repairs etc..
I wouldn't kill myself to find a cash flowing deal at the moment - those are challenging right now, but I would more so strive for something that allows you to break even.
- 1yAbel CurielBusiness MemberReal Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
Quote from @Keis J Patterson:
Hello BP Team, I have been watching on YouTube for a few years and am now ready to pull the trigger on my 1st Multi-family (2 unit). I will be living in one unit while renting the other in Queens NYC. I wanted to step through the deal with someone from the forum to ensure that this is a fiscally sound opportunity. I'm coming from the build and hold, short term rental, and commerical space mainly in partnership with someone. Advise from our community would be helpful. Thank you in advance.
Hello Keis,
Queens is a great place to begin your 2-unit search because it has nearly 750 available 2-family properties.
The majority of these listings are listed in the Central, South, and Southeast sections of Queens i.e. Woodhaven, Ozone Park, Richmond Hill, Jamaica, etc.
Plenty of other options in the North and West sides of Queens (Astoria, Elmhurst, Woodside, East Elmhurst, etc.) but your pricepoint will be a bit higher vs. the Central-South areas.
Overall, I like your strategy of househacking. Queens typically has larger lot sizes when compared to Brooklyn which could mean more access to private parking (driveway, garage) and other benefits.
All the best to you on your search!
Abel
REbuild Team - eXp Realty5234 Reviews- Member since 2025 · 91 posts · 55 votes11mo
Just want to elevate everything Abel said. Queens is fantastic. It's appreciated greatly-- luxury developments are going up all the time. Good luck!
Quote from @Abel Curiel:
Quote from @Keis J Patterson:
Hello BP Team, I have been watching on YouTube for a few years and am now ready to pull the trigger on my 1st Multi-family (2 unit). I will be living in one unit while renting the other in Queens NYC. I wanted to step through the deal with someone from the forum to ensure that this is a fiscally sound opportunity. I'm coming from the build and hold, short term rental, and commerical space mainly in partnership with someone. Advise from our community would be helpful. Thank you in advance.
Hello Keis,
Queens is a great place to begin your 2-unit search because it has nearly 750 available 2-family properties.
The majority of these listings are listed in the Central, South, and Southeast sections of Queens i.e. Woodhaven, Ozone Park, Richmond Hill, Jamaica, etc.
Plenty of other options in the North and West sides of Queens (Astoria, Elmhurst, Woodside, East Elmhurst, etc.) but your pricepoint will be a bit higher vs. the Central-South areas.
Overall, I like your strategy of househacking. Queens typically has larger lot sizes when compared to Brooklyn which could mean more access to private parking (driveway, garage) and other benefits.
All the best to you on your search!
Abel
- Member since 2025 · 2 posts · 0 votes11mo
Hey Keis, great move getting ready for your first multifamily.
If I can add my two cents — the most important part of buying your first 2-family in NYC is making sure you truly understand the local market and the underlying ownership conditions of any property you’re considering. Deals that look solid on paper can fall apart fast if there’s a legal issue, tax lien, or pending foreclosure you didn’t catch.
One strategy that’s been working well for me is focusing on distressed and pre-foreclosure properties. There are opportunities even in tough markets when you can buy directly from owners before things hit the MLS or auction. Doing proper research — looking at the chain of title and checking the NY court system — gives you an edge most first-time buyers don't have.
I actually maintain a Brooklyn Pre-Foreclosure dataset (updated Oct 2025) that pulls verified filings straight from the New York State Unified Court System, showing dates of default, mortgage balances, and more. It’s helped a lot of investors identify deals early.
If you or someone you know could use that kind of data for research or deal sourcing, feel free to reach out — happy to share details or send a sample.
- Real Estate Agent · New York, NY · Member since 2019 · 55 posts · 28 votes11mo
@Keis J Patterson I’m a local investor and realtor very familiar with your area. Without overwhelming you with options I would start narrow down what is less risky and still give you a stable income from the rental unit + some future target for the next property.
- Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes10mo
Hi Keis!
House hacking is a great strategy for new investors. A lot of my clients do exactly what you're trying to do. I'm always happy to connect with local investors. If you're interested in connecting, please reach out! Happy to share any insights and advice.
- 8moCharlemagne BenjaminBusiness MemberReal Estate Broker · Member since 2023 · 49 posts · 3 votes
Congratulations! Have you deployed capital into this market yet since your post? The discovery stage is very important as I understand you know.
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