REIT looking for first sub 50k flip in NY tristate area

REIT looking for first sub 50k flip in NY tristate area

Engineer · Forest Hills, NY · Member since 2016 · 14 posts · 7 votes

Teaming up with an REIT for our first quick fix and flip. Ideally looking for something with 3 hrs driving distance from NYC.

Would love to connect with others who've done it before in the local area.

Any thoughts are greatly appreciated. Looking to bounce ideas around and get a good sense of the entire process before pulling the trigger.

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  • Investor · fairfield county, CT · Member since 2015 · 29 posts · 3 votes
    10y

    Hello @Kevin Loh, its a shame nobody has replied to this. I'm in the same boat as you. I have been looking for decent areas (low crimes, good schools) with houses less than 100k to flip (may be hold). I have been looking at Long Island and Northern NY areas. You might be interested in Poughkeepsie, NY but i'm not sure because the crime rates scare me a little. Some houses there are spectacular. There are some colleges as well so could be looking at student housing. You can get SFRs for less than 100k and MFRs for 150k and up.

    Hope that helps. Would love to know your views on this area too.

  • Rental Property Investor · Poughkeepsie, NY · Member since 2013 · 262 posts · 96 votes
    10y

    hey guys. I have bought a couple of condos in Poughkeepsie area but I'm Arlington schools which are very good . I also bought a fixer for sf for 95k in Arlington as well. The arv is like $175-200k. I am looking all the time for good deals.  There are many colleges over here, great for student rentals..

    There are some high crime, high drugs and areas I personally wouldn't want to be.  Make sure you are aware of the area . 

    Very low vacancy in Arlington school. Our local newspaper said 3% .  

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