All Forum Posts by: Aric W.

@Account Closed 

PM me and Ill give you details.

In my opinion ,house hack in nyc in up and coming areas,close to the city ,with multiple ways for public trans. You get owner occupied financing and landlord training on site.You could do that for x amount of years, and then cash out refi and do it again. Housing hacking you get to build relationships in your hood, RE is all about relationships !

Mike Acri I'm house hacking a 3 family in Jackson Heights ,Queens it's 25 min to midtown , 5 train lines. Prices have gone up but it's still makes sense to get in, rents have been rising steady and there is nice housing stock, I keep my eyes on the JH market and houses are taking longer to sell, I like North Western Queens long term potential, lots of new people buying from Manhattan. Good luck, it's possible!

PS I don't think the L train closing is going to move the needle , I hope it does, id buy in ny second ,but investors are to smart and will just wait it out,just my 2 cents.

@Chad Eatinger Sunny side is a great area ,only 7 train though,and more expensive than JH. Woodside is another great area thats close to the city, prices around JH , I like JH in terms of neighborhood but Woodside would be a great long term investment,East Elmhurst has more homes and not to many apt buildings so it feels less crowded,but your father away from the trains,you do have lots of bus lines that you can take to Jackson heights train stations. East Elmhurst will meet your price range and have some nice housing stock but your on the other side of Northern Blvd,and its just a farther walk to the trains. One thing about East Elmhurst your right under LGA flight path and is a shock at first,get your ear plugs ready if you move there. 

 Jersey City ,Ridgewood Bk,some other good options. Good luck waiting for L train, I lived in Williamsburg BK for 13 years,and that hood is only going up. The schools are a little tricky on the North Side ,but if you go to the Lormier Stop in the burg they have a good elementary school ,but with your price range will be tough. Good luck!

Look into Jackson Heights Queens, 25 min into midtown. 2 families around 850-1.1 

3 families 1.3 and up. Jackson Heights has 5 train lines, great food,and your close to Astoria for night life,plus very family friendly. PM me is you have any other questions. 

Hey Bin Great job on your project in Riverdale . I'm curious how the heating conversion cost so every tenant pays there own heat , very smart idea, I'm thinking to do the same thing.

Have a double in Garfield Heights 1800 sq feet , 2 adults , 1 baby . Insurance 61.00 Tax 282 ouch ! Trash sewer 65 Water 38 Snow/plow 100 so far this winter Haven't had the place in the spring summer but got quotes around 30-35 cut. Great idea about giving tenants a discount for cut and snow plow , just have to make sure they are doing it !

Hey Patrick

Im late to the party here,but wanted to add my 2 cents.

Im an investor in Nyc, I invested in Williamsburg,Brooklyn before it took off. Im house hacking now in Queens now,but everything is very expensive now. I 2nd House hacking,its getting harder in NYC ,but I really like Jersey City for house hacking,and its right next to you. 

Great thing about house hacking is you get great rates and maybe lower amount down.

Also agree with the other guys about Out of State Investing, its much easier now with Technology. I just started investing out of state also, and highly recommend Long -Distance Real Estate Investing by David Greene. You new guys are lucky you have BP,back when I stated in 99 you had to hit the streets,no internet to reserch ! No better way to learn than BP and joining local Real estate group.

One more thing about NYC investing ,follow the train maps,close to public transport.I like to be under 10 min walk to subways,and if possible more than 1 train line. Good luck,and enjoy the ride!

Mary , PM you.

South bronx! Developers pouring money into the area.