Best locations in NY to House Hack.

[Derek Southard]

Hello,

     My name is Derek. I am looking into house hacking for my first property, but am have trouble identifying where I want to go. Rochester, Buffalo, and Syracuse are nearby. I live in Ithaca, but want to leave the location. I would prefer to move downstate, but these markets I am seeing have high prices for entry level. I am looking for an area I can generate a decent cash on cash investment without a huge price tag. Does anybody know the best spots to invest in NY? Also, I am a new real estate agent, so I would also like an area that I can generate decent income in that aspect as well.

Thank you

[Matthew Irish-Jones]

Quote from @Derek Southard:

Hello,

     My name is Derek. I am looking into house hacking for my first property, but am have trouble identifying where I want to go. Rochester, Buffalo, and Syracuse are nearby. I live in Ithaca, but want to leave the location. I would prefer to move downstate, but these markets I am seeing have high prices for entry level. I am looking for an area I can generate a decent cash on cash investment without a huge price tag. Does anybody know the best spots to invest in NY? Also, I am a new real estate agent, so I would also like an area that I can generate decent income in that aspect as well.

Thank you

 They are all somewhat similar cities.  Buffalo is the biggest.  If you are going to house hack you need a job or cash.  Do you work remotely or are you going to get a job after you pick a city?  If you are a new RE agent and you are living off 1099 income with no W-2 income you are going to struggle to get a lender on board.

Lockport NY is outside of Buffalo and has entry level pricing, decent cash on cash returns, and has some quality assets.  That may be one place to look.