Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

20
Posts
3
Votes
Mélida Maldonado-Pérez
  • New York, NY
3
Votes |
20
Posts

Bronx Newbie Investing in Multi-Family Rentals

Mélida Maldonado-Pérez
  • New York, NY
Posted

Hi everyone!

My name's Melida and I've been lurking on this site for months now and finally gained the courage to introduce myself. My husband and I are interested in investing in house hacking either in the Bronx, upstate NY or NJ. We're still figuring out which is best for us based on the cashflow. We're also thinking of taking out a FHA loan to purchase our first multifamily property (2 units-live in one of them). The goal is to purchase more units every year (2 units year one, 3 units or more the following year, etc.).

I have two questions: Does anyone have any general tips as to where would be the best place to invest in a rental property out of the 3 mentioned above? Also, do FHA loans cover there realtor's 6% commission. Since its way more than the 3.5% downpayment, I'm worried their commission is a lot higher than the downpayment.

Thank you and very grateful to be a part of this community!

Melida

Loading replies...