New BRRRR Investor Looking for Connections in NYC

[Arunabh Ganguli]

Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!

I am looking forward to connecting!

[Abel Curiel]

Quote from @Arunabh Ganguli:

Hello! I am a new real estate investor based in NYC and attending NYU Stern. I am interested in buy-and-hold single-family homes, potentially multi-family if it is a good deal, and I am looking to implement the BRRRR strategy. My hopes for this post is to connect with anyone in the NYC area or areas nearby who are doing it themselves to gain more knowledge, increase my exposure to good deals, and improve my investment models. I'm also starting out with only a few hundred thousand dollars budget which is pretty low for NYC, so if there's any other investors interested in pooling capital to gain access to more profitable properties, please don't hesitate to reach out!

I am looking forward to connecting!

 Hello @Arunabh Ganguli! 

All the best to you in business school!

The BP forums are a great place to connect with local RE investors and other good points of contact to have.

I'd also recommend using the BP Search function to look up topics or people of interest.

Depending on your budget, you may have the most BRRRR opportunities ~60-90 minutes outside of NYC (i.e. Suffolk, Westchester and Rockland Counties). To have even more options at a lower price-point, you'd likely want to venture further north in NY (i.e. Ulster County, Capital Region, Rochester, Syracuse, Utica, etc.).

Rents and demand will vary as you move further from NYC.

To find the best deal possible in/around NYC (including the 5 boroughs), you'll want to go direct to seller or work with wholesalers, agents or partners to source off-market deals.

Keep in mind that competition is super high in NYC so the best 'deals' have the most baggage. 
- non-paying tenants
- deferred maintenance
- title issues
- open permits, code violations, etc.

All the best to you on your search!

Abel