First time investor looking at House Hack in Brooklyn

[Maximilian Gabath]

Hey Guys -

So I'm fairly new to REI and have been working towards getting my first MFH in Brooklyn (Prospect Heights/Crown Heights/ Bed Stuy areas). Wife and I want to occupy one of the 2-3 units of a townhouse/brownstone.

Now as I'm reading more and more, the thought of pulling this off in Brooklyn seems less appealing given the high Price-Rent ratios in NY. Wondering if we should just invest in a rental building in another area altogether.

Curious to hear other folks' opinion on Brooklyn House Hacks. Would also love to grab coffee/beers in NYC if anyone's up for it.

Cheers,
Max

[Brandon Cohen]

Hi @Maximilian Gabath it's certainly different in NYC vs other markets.  The rent won't necessarily pay your entire mortgage though it will certainly help.  it depends what it's worth to you.  You could live on one floor and rent to tenants a better part of the house or vice versa. I'm doing this now for a client (just listed rental yesterday) where they're taking sole ownership of the yard...they prefer the luxury over the extra income, for now.  

In short, doable though different style I suppose.  

Brandon