New from NY

[Drew Vukov]

Hello all,

Drew here from Long Island, NY. I bought my first home about 6 months ago, it's a duplex and I live in half, rent the other half out. It has been working out great so far. I used a VA loan and put Zero down. I budgeted so that I knew I could afford the whole home myself, so not having a tenant in right away or all the time wouldn't really affect me financially. Fortunately I was able to get someone good in there in less than a month.

Im here to learn some more about buy and hold deals, and also landlording. I am hoping to buy another multi-family in the next year or two that I can get the deal worked into a total cash flow of at least $1,000 per month.

Rents are high here on Long Island, unfortunately so are the home prices and the taxes. I have some cash saved and can access more but it seems that for now I am pretty much priced out of Long Island. But I am also hesitant to buy in areas I am not too familiar with. Right now I am considering investing in Eastern, PA or New York areas north of the Bronx.

I'm open to hearing anyones advice. Thanks.

-Drew