Newbie Investor from New York, NY

Investor · NYC/NJ · Member since 2016 · 23 posts · 9 votes

Hi BP Members,

My name is Sheila and I am a new member to BP as well as new investor. My husband and I have not started yet and are eager to do so. We are interested in starting with a multifamily home and living in one of the units. We are also looking for a great REI broker to help us get started. Do any of you have any recommendations or advice to consider before we move forward? We would really appreciate it!

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Michael S.Pro Member
Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
9y
Welcome to BP @Sheila Reyes I believe you are referring to house hacking , you can see a guide on it here https://www.biggerpockets.com/renewsblog/2013/11/02/hack-housing-get-paid-live-free/
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Dave VisayaPro Member
Moderator
Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
9y
Hello @Sheila Reyes welcome to the site! It's great to have you here. Feel free to ask any questions in the forums. Seeya around!
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Mark Nolan
Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
9y
@Sheila Reyes
Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative, and contain ample information. https://www.biggerpockets.com/blogs/
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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
8y
Hello Sheila,
I think house hacking a multifamily property is one of the best ways to break into REI. One thing I'd suggest is getting a good CPA who works with other investors. There are tons of tax benefits associated with MFR and you can save tons throughout your investing career.
What areas are you targeting for your first purchase?
Best,
Abel
REbuild Team - eXp Realty5234 Reviews
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