I am looking to invest in real estate on long Island. I just bought my first home, which is essentially a live-in flip. In the past 10 months of living here we redid the floors, created a master bathroom and walk in closet, redid the siding, built a shed, painted and landscaped. Still a work in progress! I am interested in buy and hold investment, either on long Island or in another region close by. I know competition is high here! I am super motivated and excited; ever since buying my first home I have been hooked on real estate. I hope to learn from many of you and look forward to connecting! Cheers,
Congrats on the first purchase @Josh Feldman ! Numbers are hard to make work on LI. I've started looking upstate for cash flow properties.
Thank you Scott! I am definitely open to looking upstate. I am actually interested in investing near universities. Do you have any experience with that, positive or negative?
Thank you @Monique Jeffries ! Really appreciate the offer. Will be in touch with you in the future for sure.
Thank you @Scott Wolf ! I am definitely open to looking upstate. I am actually interested in investing near universities. Do you have any experience with that, positive or negative?
Northeast, in general, is a very tough place to invest. Personally, I go out-of-state and out of region.
Still, if you can run the flip, you have some value-add potential. This is certainly more than a passive investor like myself can offer.
@Josh Feldman I am doing a flip on LI right now, in Suffolk County. Market is hot, lots of opportunities if you buy correctly. Let me know if I can help.
@Josh Feldman congrats I in the same situation and didn’t realized how much I enjoyed real estate until I went through the process of buying my first home in Suffolk County
Originally posted by @Josh Feldman :
Thank you @Scott Wolf! I am definitely open to looking upstate. I am actually interested in investing near universities. Do you have any experience with that, positive or negative?
Hey Josh, I have no personal experience with investing near universities, but I do have an acquaintance who started doing so when they were at U. of Minnesota (Minn U.?) and they have had great success. I know one of their keys was making sure the parents were on the lease as guarantors.
I am looking to make my first investment in real estate and am curious to know for those that have invested out-of-state or even upstate NY, how have you been able to manage your properties? Do you hire a third party? The goal is clearly to find a cash flowing deal, which seems very hard in the immediate LI area, but I've been told by many with experience that it's always better to go after something "in your backyard". I do subscribe to the fact that no one will ever care for you asset as much as you will.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you