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Updated about 6 years ago on . Most recent reply

User Stats

10
Posts
2
Votes
Andres S Menendez
  • New to Real Estate
  • Queens, NY
2
Votes |
10
Posts

NEWBIE Real Estate Investor

Andres S Menendez
  • New to Real Estate
  • Queens, NY
Posted

Hey Good Day to all

This is my first Post so I guess I should say a little about myself and my journey. 

My name is Andres and I've been curious about Real Estate investing for a while now. I've worked my butt off in my job and I've managed to  save up about 115K (and counting because Im still working FT). 

I want to leave roughly 15K for emergency and invest the other 100K. I live in a very expensive area (Queens, New York) and I'm looking for a multifamily property to possibly house hack. I've looked for a bit but not too in-depth but I know properties out here are ridiculously expensive.

I don't mind going to the surrounding areas (NJ or NY state) but I would like it to be accessible to manhattan via Train and a drivable distance.

my question is, does anyone have any experience with buying properties in NJ, upstate, Long Island, even maybe eastern PA (big maybe). 

looking for a good ROI and somewhere not too far from the Boroughs. Reason being is that my father is pretty handy and is willing to assist me in any renovation needed for the property and I wouldn't want him to travel a crazy amount.

But my biggest concern is really the ROI and property taxes. I want to get a good idea and make an informed decision from more experienced people before making the jump. (New York to New Jersey, PA, LI, etc.)

I would greatly appreciate the help. 


THANKS!!

Most Popular Reply

User Stats

2,255
Posts
1,007
Votes
Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
1,007
Votes |
2,255
Posts
Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Replied

Welcome to BiggerPockets @Andres S Menendez.  I invest in NJ, particularly NYC direct transportation.  100K is about how much I put into my first deal.  50K down 50k rehab.  Great cash flowing property which I later leveraged to purchase second investment. 

  • Shawn Mcenteer
  • 9739753895
business profile image
House Hacking New Jersey
5.0 stars
58 Reviews

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