Living in NYC, where to invest/live?

[Account Closed]

Hey all I just received a gift of $70,000. I prefer to live in NYC and house hack a multifamily but its still too expensive. I was thinking of anywhere within 40-50 miles would be next reasonable option. Any suggestions? Our jobs are located in Queens. We are currently renting for $1625/mo. Thanks

[Abel Curiel]

Good afternoon Scott,

I think Queens and The Bronx have some good options that you may be interested in. There are some 2-3 family properties (in different conditions) that could provide an opportunity for you to remain around that $1,625/mo or even less. Rental income in some of these properties will cover most of your mortgage and give you an opportunity to build some capital for another investment.

I reached out to you via PM. We can continue the conversation if you'd like more info.

Best of luck to you!

-Abel