Hey, does anybody have an idea what's a good market in the NY City area???

I am new and I what something around 200k range.......

You are better off in the Long Island area with that kind of budget. Don't rush into NYC property.

@Barry Friedman what are you looking for?  Investment, a place to live, a house hack?  Do you need to commute into NYC?

Investment........

@Barry Friedman you can try Dutchess County NY, or Bridgeport CT or potentially some of the cities like Irvington in NJ.

Hi! I am thinking about househacking. Where would you suggest is a good place in the New york to do that?

@Wei Jie Yang , that depends on a lot of factors.  Do you need to get to Manhattan everyday for work? Are you looking to turn a profit, or OK just building equity off someone else's payment while still making payments yourself?

How long of a commute are you OK with?

Feel free to PM me to discuss.

I agree with @Karan Malhotra Long Island is a pretty decent bet with those resources.

@Barry Friedman

You can't do much in this market for that range. On top of that, the state is very hostile to investors. I would consider other options.

Thanks!! Could pls give ideas if you don't mind ...

That's not enough for inner-city New York, so I'd target Connecticut or Long Island

@Barry Friedman Connecticut is probably your best bet and you'll have to go a decent drive away to find something in that range that is overall in decent condition

@Jason Arcuri Thanks a lot.....

I never invested in NY but recently moved from the state to pursue my investing goals. I just don't see NY as a good place to invest from everything I've read and all the people I've spoken with about my goals.

I’ve heard people say that New York is  a tenant’s  market, making things very difficult for landlords to protect their investments.

@Barry Friedman

Bergen county is too inflated. Waiting for a pull back to purchase myself.

@Barry Friedman

You can do numbers like that in Trenton. It's farther from the city, but there are a few things to like. Happy to talk to you more about my experience in the market.

Originally posted by @Barry Friedman :

Hey, does anybody have an idea what's a good market in the NY City area???

I am new and I what something around 200k range.......

With that budget, even on Long Island you will need to look for a property that needs extensive work, or a small condo or co-op. 

Yes NYC has just recently passed a few laws in favor of tenants. Here is brief overview 

https://streeteasy.com/blog/new-york-rent-laws-2019/

Originally posted by @Barry Friedman :

Hey, does anybody have an idea what's a good market in the NY City area???

I am new and I what something around 200k range.......

I don't think you will find anything for that price range in NYC. In Long Island you might find a SFH that needs extensive work for that price or maybe a 1br condo.

You have to look at about 1-3 hours drive out such as Allentown, PA (Lehigh County Area); Trenton, NJ; Newark, NJ; or Bridgeport, CT to name a few.

@Barry Friedman look in Jersey. Not only is NYC not landlord friendly, the buildings are nearly 70% co-op. I would say 90% of those won’t allow subletting. How much would you have for a down payment is the next question.

thanks it's a big help......