New to Real Estate · Hudson Valley, NY · Member since 2024 · 5 posts · 1 vote
Hi BP Community,
I hope you're doing well! I’m a 23-year-old starting out in real estate investing, with an immediate goal to house hack a 2-4 unit property in the Hudson Valley, NY, focusing on Orange and Ulster Counties (open to Dutchess as well).
What I’m Looking For:
Property Type: Duplex or 2-4 unit property
Price Range: $350,000–$500,000
Plan: Live in one unit (likely a 1B1B) and rent out the other(s)
Location: Ideally within 45 minutes of Newburgh, focusing on Orange, Ulster, and Dutchess Counties
Timeline: I’m aiming to close on a property by April, but I’m flexible and focused on finding the right deal.
I’ve been searching on Zillow and Realtor.com, but most listings don’t seem to fit the numbers or have already been picked over. I’ve also struggled to connect with local professionals who understand house hacking and rental markets in this area.
I’m looking for advice on finding possible properties, but I’d also love networking opportunities and recommendations for knowledgeable agents, lenders, and other investors.
Investor · CA · Member since 2024 · 82 posts · 31 votes
1y
Hey Charlie, great to see you diving into real estate at 23—that’s an awesome start! House hacking is such a smart way to build wealth, and the Hudson Valley is a great area with a lot of potential.
Have you thought about looking at 3-4 unit properties instead of sticking to smaller duplexes? More units mean more cash flow, and it might give you better options to make the numbers work. Sometimes, those deals get overlooked because people assume they’re harder to manage, but with a good plan, they can be way more profitable.
For finding deals, have you tried connecting with local investors or attending meetups in the area? Networking can be a game-changer, especially for off-market opportunities. I’d also recommend finding an agent who really understands house hacking and rental markets—they can make a big difference in finding properties that fit your goals.
Keep at it, and don’t settle for something that doesn’t work financially. You’re on the right track—excited to see what you find! Let’s stay connected—I’d love to hear more about your journey!
Investor · CA · Member since 2024 · 82 posts · 31 votes
1y
Hey Charlie, great to see you diving into real estate at 23—that’s an awesome start! House hacking is such a smart way to build wealth, and the Hudson Valley is a great area with a lot of potential.
Have you thought about looking at 3-4 unit properties instead of sticking to smaller duplexes? More units mean more cash flow, and it might give you better options to make the numbers work. Sometimes, those deals get overlooked because people assume they’re harder to manage, but with a good plan, they can be way more profitable.
For finding deals, have you tried connecting with local investors or attending meetups in the area? Networking can be a game-changer, especially for off-market opportunities. I’d also recommend finding an agent who really understands house hacking and rental markets—they can make a big difference in finding properties that fit your goals.
Keep at it, and don’t settle for something that doesn’t work financially. You’re on the right track—excited to see what you find! Let’s stay connected—I’d love to hear more about your journey!
New to Real Estate · Hudson Valley, NY · Member since 2024 · 5 posts · 1 vote
1y
Hey Anderson,
Thank you so much for the encouragement—it means a lot! I’m really excited about diving into real estate, and hearing from experienced folks like you helps keep me motivated.
You’re absolutely right about 3-4 unit properties. I’m definitely open to them, especially since the higher cash flow could help make the numbers work even better. Plus, being 23, I figure this is the perfect time to learn by doing. Resolving issues in multiple units might be a challenge, but I see it as a great opportunity to gain DIY experience and build some skills for the long haul.
Networking has been a bit of a struggle, though. A lot of the events I’ve come across (especially on BP) seem NYC-focused, or they've already passed which makes it hard to connect with Hudson Valley investors. If you know of any meetups or local groups that focus on this region, I’d love to hear about them. I’m really eager to meet others who share the same goals and could point me in the right direction.
Thanks again for taking the time to share your advice—it really means a lot. I’d love to stay connected and keep you updated on my journey. I’m always open to learning more and hearing about your experiences too!
I'm in a very similar boat as you. I really like Ulster County but work on the other side of the river. I found an amazing 4 family with 5 car garage in Ellenville. Hadn't been out that way in a while and it really is coming along. I decided not to move forward because I didn't want to drive 3 hours/day but the address is 6 backman ave and the owners were willing to come down to $460k when I was negotiating.
I'm in a very similar boat as you. I really like Ulster County but work on the other side of the river. I found an amazing 4 family with 5 car garage in Ellenville. Hadn't been out that way in a while and it really is coming along. I decided not to move forward because I didn't want to drive 3 hours/day but the address is 6 backman ave and the owners were willing to come down to $460k when I was negotiating.
This is great, Jonah, thanks! And I totally get wanting to avoid a long commute. Ellenville is about my limit at 2 hours commute round trip. Where have you been looking otherwise? I found one place near Walden, 80 N Montgomery Street, but my math showed it to be a bit hard to get good cash flow since it's only a duplex.
Do you happen to still have the contact information of the Ellenville owners? I didn't see any listings online for their place, but that's not to say they aren't still looking to sell! Feel free to send me a message if you'd like to chat further, or if you're able to find their details!
Real Estate Investor · Unadilla NY · Member since 2017 · 418 posts · 297 votes
1y
@Charlie Dedinsky Your smart to house hack in the beginning, I wish I did. One thing to think about is what if you had roommates in a single family house instead of a multi family unit? Its cheaper rent for them and helps you also. Properties have skyrocketed in the area and in my opinion will continue to rise for the foreseeable future even at these higher interest rates. There's an orange county NY meetup if you search the forums you should find the post or check facebook if you have it. I'm a Realtor and investor, feel free to shoot me a PM if you got any questions or want an opinion on a property or anything in general.