Looking to House Hack in Brooklyn NY

Looking to House Hack in Brooklyn NY

Member since 2021 · 7 posts · 2 votes

Hello,

Any realtors or industry experts with any advice? Looking for a 3 or 4 plex in Brooklyn NY.

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  • Developer · Brooklyn NY · Member since 2019 · 69 posts · 91 votes
    1y

    Hey Vincent, I'm not a realtor or expert, but I have invested in Brooklyn for the past 25 years.  The only advice I would give you is that you should vastly narrow down and specify your search.  Saying your looking in Brooklyn is similar to saying your looking for something in the state of Ohio.  You would benefit from clarifying your neighborhoods and price range.  There are literally hundreds of areas in Brooklyn and multi families ranging from a few hundred thousand to over 20 million.  Best of luck in your search.

  • Rental Property Investor · Brooklyn, NY · Member since 2008 · 92 posts · 59 votes
    1y

    Vincent, Eric is right correct. Everything follows your budget here. That will determine if you’re looking at Greenpoint or East New York. 
    After that, consider how much work you need to do to the property and consider that in your budget as well.

    Also, as a HCOL area, it will be very difficult to find resi for 1-4 unit properties that will fit “traditional” investment criteria (eg 6 cap or 1% rule etc). But the appreciation will blow most other places out of the water.

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