Newbie in NYC, interested in Philadelphia!
Hi everyone,
I'm a software engineer who's been living in NYC for the past 4 years. Prior to that I was in CT where I was born and raised. I came across bigger pockets after having had a brief discussion with a friend about someone he knew who was buying properties sight unseen in the midwest. I didn't give it much thought at the time because it seemed super sketchy, but soon after found myself looking into real estate as an alternative to traditional 401K/IRA/etc investing.
For the past month or so I've been reading a bunch of books including the great ones here from BP, and also listening to the podcasts and lurking the forums.
My goals are pretty typical for a wannabe NYC investor. Would love to invest in this area, particularly house hacking sounds like it would be great. But not sure how feasible it would be without looking out a great distance. I'm also a bit concerned about the outer borough markets, i.e. Jersey City, Long Island City, Queens etc.. I just am seeing tons of new constructions coming and combined with rent drops am worried about a correction happening in the near future.
As an alternative I'm interested in Philadelphia. I have a bunch of friends living there already and like the idea of investing in a place that can cash flow better. Either way I'm happy to join this great community!