Hey BP fam!

I’m so happy to be here and learn!

This is my first post and I'm interested in buying my 1st property. Looking to buy a SFH or small multi-family (1 - 4 units). I have $60k in cash to BRRRR.

Below is a target list of area/cities I’m familiar with:

Newark, NJ

Rutherford, NJ

Paterson, NJ

Mount Vernon, NY

Staten Island, NY

Stamford, CT

Eerie, PA

Philadelphia, PA

Atlantic City, NJ

East New York, Brooklyn, NY

Jamaica, Queens, NY

Bronx, NY

Westchester, NY

Yonkers, NY

I am most certainly not opposed to venturing outside of this list but would prefer an area I can drive to and manage. A 3 hour drive from my current Brooklyn apartment would be manageable. I should mention that I do have a partner in Fort Lauderdale, FL who can manage property for me. So any areas nearby Fort Lauderdale I am not opposed to.

I would love to hear your opinions and suggestions. Perhaps other areas I should look into or other investment strategies I should consider or major concerns I should seriously consider.

Thank you in advance.

-Jose B.

Originally posted by @Jose Buzzi :

Hey BP fam!

I’m so happy to be here and learn!

This is my first post and I'm interested in buying my 1st property. Looking to buy a SFH or small multi-family (1 - 4 units). I have $60k in cash to BRRRR.

Below is a target list of area/cities I’m familiar with:

Newark, NJ

Rutherford, NJ

Paterson, NJ

Mount Vernon, NY

Staten Island, NY

Stamford, CT

Eerie, PA

Philadelphia, PA

Atlantic City, NJ

East New York, Brooklyn, NY

Jamaica, Queens, NY

Bronx, NY

Westchester, NY

Yonkers, NY

I am most certainly not opposed to venturing outside of this list but would prefer an area I can drive to and manage. A 3 hour drive from my current Brooklyn apartment would be manageable. I should mention that I do have a partner in Fort Lauderdale, FL who can manage property for me. So any areas nearby Fort Lauderdale I am not opposed to.

I would love to hear your opinions and suggestions. Perhaps other areas I should look into or other investment strategies I should consider or major concerns I should seriously consider.

Thank you in advance.

-Jose B.

Hey Jose,

Welcome to the BP forums! Best place to be to connect with the community and get your questions answered.

I highly recommend narrowing your list down to 2-3 locations then eventually cut it down to 1. This doesn't mean you shouldn't consider other areas but the focus should be the first deal. While choosing an area, getting pre-approved for financing or at the very least, speaking with a lender about your overall financial situation will help you determine the best price point. Once you narrow things down, find a dedicated Realtor, lender and attorney (if needed) and you can aggressively target your first property. 

Best of luck to you on your journey!

Abel