From Upstate NY: Newbie here

[Andrew S.]

Great place folks. I'm from the Upstate NY area, and for those not familiar, I'm about 170 miles from NY City in a very economically depressed area. Here's my situation:

*I'm 49 and a health care professional
*I have 3 kids
*I have a large home with a large mortgage that I built, but have substantial equity because I built it on 85 acres of land that I got for a song, and the prices have risen dramatically (what I'm saying is I have equity I can use but will not tap that unless it's a dire emergency.)
*I am considering multi family units as an investment
*I am in the serious "fact finding" phase now and anticipate investing in a year

What I DO NOT want is day to day chores of maintenance and chasing tenants. I simply do not have time as I also run my business 70 hours a week.

I have looked at flipping, beach houses, local retail projects...etc and I keep coming back to the desire for a large multifamily complex with good management where I can put a chunk of money down and hopefully build some equity over time. I am not tied to NY State. In fact, one of my concerns is how to find the best market or region to invest it. NY is just too high in taxes and expenses and I'm sour on the state.

So I guess I'll ask questions to that specifically in the proper forum. I just wanted to introduce myself and say thanks for a great place and the success stories here are inspiring