I am seeking a Mentor that works with a team

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I am seeking a Mentor that works with a team

Reuben Lewis
New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes

Hello, my name is Reuben Lewis. I currently reside in Manhattan NYC. My objective is to purchase an income producing property that will get me started in investing.  I would consider house hacking within close proximity to Manhattan as my employment requires my presence. What are my best options.

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  • Tre DeBragaPro Member
    Real Estate Agent · Worcester, MA · Member since 2022 · 107 posts · 48 votes
    9mo

    Hey Reuben, 
    Welcome to Bp.
    If you are looking to start into real estate and turn that into an income producing thing I would definitely start with house hacking. Especially because you already have a full time job. House hacking might not super cashflow right at the beginning but it saves you a ton from having to rent, can also turn into cashflow once you move out that unit. 
    I would get around other investors if you are looking for a mentor. Use bigger pockets to find meet ups in your area and go to them and make connections. 
    Turn that 1 house hack into 2,3,4 and so on and then eventually you could even leave your job and go full time in real estate.

    0Reply
  • Reuben Lewis
    OP
    New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes
    9mo

    Tre, thanks for reaching out. I'm brand new to Bigger Pockets, in fact I'm setting up my profile and trying to get familiar with the site. Good advice already thanks again.

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    9mo

    Why do you need the mentor to work with a team?
    It looks like you need the service just for yourself.

    Your first step should be to determine where to invest.
    You shouldn't delegate this to anyone else - Pick an area that you feel like you have a competitive advantage. Think of an area that you visit often, went to school or an area that you grew up in.

    House-hacking in New York City is doable but it normally has two different strategies.
    1) House-hack in one of the 5 boroughs(You will likely be cash-flow negative but betting on long-term growth)
    2) house-hack 1-2 hours away from the city(You will still likely be cash-flow negative but not as much as option 1)

    My feedback to you is to make your hopefully high salary in NYC and invest elsewhere.

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  • Joshua Hardin
    Investor · Chattanooga, TN · Member since 2023 · 179 posts · 109 votes
    9mo

    Hi Reuben,

    What are you truly seeking?

    It's crucial to ask the right questions at the right time. You are new to real estate investing, welcome! I believe real estate is about empowering and serving others. In return, we are served as well.

    House hacking is an honorable opportunity and depending on your scenario, it may be a good one. Refrain from boxing yourself in though... Meaning, the first deal isn't "perfect". Honestly, what deal is? Not to steer you another direction. I like to paint pictures visually for folks.

    Cash flow doesn't automatically mean BIG MONEY. Some times it's $100 and sometimes it's a couple hundred. Work the spread, weigh the opportunities and remain flexible. If you're seeking to align with "mentors", what kind are you seeking? Local in person? Distant - flexible? Paid?

    Enough questions from me. Many blessings to you Reuben and we look forward to serving you the best way we can!

    -Sarge

    0Reply
    • Reuben Lewis
      OP
      New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes
      9mo
      Quote from @Joshua Hardin:

      Hi Reuben,

      What are you truly seeking?

      It's crucial to ask the right questions at the right time. You are new to real estate investing, welcome! I believe real estate is about empowering and serving others. In return, we are served as well.

      House hacking is an honorable opportunity and depending on your scenario, it may be a good one. Refrain from boxing yourself in though... Meaning, the first deal isn't "perfect". Honestly, what deal is? Not to steer you another direction. I like to paint pictures visually for folks.

      Cash flow doesn't automatically mean BIG MONEY. Some times it's $100 and sometimes it's a couple hundred. Work the spread, weigh the opportunities and remain flexible. If you're seeking to align with "mentors", what kind are you seeking? Local in person? Distant - flexible? Paid?

      Enough questions from me. Many blessings to you Reuben and we look forward to serving you the best way we can!

      -Sarge


      0Reply
  • Reuben Lewis
    OP
    New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes
    9mo

    Thanks for your feedback. 

    0Reply
  • Lydia Winn
    Member since 2025 · 91 posts · 55 votes
    9mo

    Hi Reuben--I'm currently house hacking in Astoria and would be happy to share my experience. DM me if you're interested. 

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    9mo

    @Reuben Lewis

    I think you have got the right idea. I mean if you are looking for an apartment not too far from Manhattan, then I would be pushing for small multifamily or condo or coop-friendly rentals in Northern NJ, some areas of Brooklyn or Queens, or even Yonkers where house hacking is still okay. I must say the difficult part is to strike a balance between commuting time, owner occupied financing and realistic cash flow so that your first deal turns into experience for you without draining your resources.

    Good luck!

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  • Reuben Lewis
    OP
    New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes
    9mo

    Thanks everyone for the input and advice. It's greatly appreciated. I'm sure I will have more questions. 

    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    8mo

    Reuben, I like Joshua’s perspective here, especially the part about not boxing yourself in on the first deal.

    From both a tax and practical standpoint, house hacking is often a great place to start, and it fits well with the areas you’re looking in, especially since it already aligns with your lifestyle. Because you’d be buying it as a primary residence, financing is usually easier to obtain and more favorable than an investment loan, which is one of the big perks of house hacking. There are plenty of investor-minded lenders who can help you get qualified and walk you through options, and that’s where I’d start building your team. The next would be a real estate agent in the areas you're looking at.

    From a tax perspective, the portion of the home that’s rented is treated as a rental property. That means you can allocate expenses, mortgage interest, taxes, insurance, utilities, repairs, between personal and rental use, and depreciate the rental portion. Any net loss may offset rental income and, depending on your income and participation level, could potentially offset other income as well. Down the road, house hacking can also provide flexibility when you move out and convert it to a full rental, while still benefiting from primary-residence tax rules during ownership. It's just a great starting point.

    Joshua is also right that the first deal doesn’t have to be perfect. In NYC-adjacent markets, cash flow is often thin, so the win is learning, reducing living expenses, and positioning yourself for the next move. Saving $500–$1,000 a month on housing through a house hack is effectively a tax-advantaged cash flow.

    I’d stay as flexible as you can on location, focus on a small multifamily you can comfortably live in and manage, and treat the first deal as education plus foundation, not a home run. As you grow your portfolio, you'll definitely want to add a real estate-focused CPA to your team to make sure you have everything set up correctly, and you aren't missing out on any saving opportunities and making the most of your rentals by seeing how the income and losses interplay with the rest of your income streams.

    Good luck, and happy to connect.

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  • Reuben Lewis
    OP
    New to Real Estate · NYC · Member since 2026 · 15 posts · 3 votes
    8mo

    Thanks ashish, this is exactly what you said,  a learning experience.!

    0Reply
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