All Forum Posts by: Dacia Ray

I'm a newbie too but from what I've been learning so far it seems like a better use of that $12k would be putting it toward a downpayment. I'm going the route of reading, listening to podcasts, talking to folks with experience, and working in real estate to learn the ropes. This is also in line with my learning style - I'm good at being self-directed and like research. My route might take a little longer than signing up for a structured program like you're talking about, but I'd rather invest my time in learning and my cash in property.

Its normal to be terrified when making such a big decision! That doesn't necessarily mean you shouldn't do it. I bought a coop apartment in NYC when I was single - it was terrifying, but all the numbers made sense. Definitely one of the best choices I've made. If you have the ability to do this while you're single, do it. Don't wait for marriage. Best case scenario its a great asset for you and your husband as you figure out your goals and your lives together. Worst case scenario it is your own asset, not marital property, and can help you out financially if you need it.

Diamond Just Past the Rough - cute enough, but also very clear. Some of the others are too cutesy.

In a previous small nonprofit I ran in NY, we were able to offer health insurance for our three employees via New York State of Health, which is accessible not just to individuals but also small businesses. The company can opt to cover the full cost of insurance or a percentage of the insurance - it sounds like maybe covering a percentage might work in this situation. My recommendation would be to find an insurance navigator to work through the options with you - they are trained by the state and free for you to access, usually work for community organizations. They can help weed through the paperwork and options. There's more info and a directory here: http://info.nystateofhealth.ny.gov/IPANavigatorSiteLocations

All the calculators are here: https://www.biggerpockets.com/real-estate-investme...

The rental property one will be most useful - you can enter rent per unit.

@Nathan Kerxhalli There's definitely a significant second home buying crowd on the west side of the river (I started out that way myself). I do office management for Habitat Real Estate Group in Stone Ridge and a lot of our client base are second home buyers. But there is definitely less commuting happening from here, which from the investor side means that renters are folks who work locally (which often means struggling a bit).

@Jarad Gettinger Thanks for sharing info about what the MHV meetings are like.

I know that the east and west sides of the river are different - growth and prices are faster on the east side because of the MetroNorth trains and easier accessibility to the city, and it seems like folks on this thread are more focused on the east side. I grew up on the west side of the river in Orange County and now live in Phoenicia after 17 years in the city, and I'm looking to invest in Kingston, Saugerties, or maybe other smaller towns. I'm curious if anyone has properties on both sides of the river or if folks general pick one and focus expertise on that.

There's definitely a difference between the east side of the river (MetroNorth trains along the river, lots of commuters) and the west side of the river (train into Orange County, otherwise buses to the city) - this is reflected in prices and it depends on who you want your renters to be. One of the good ways to get to know the areas, other than driving and walking around them, is to read the local papers - that will give you a lot more info about what's happening. I'd start with the Times Herald-Record, the Daily Freeman, and the Poughkeepsie Journal.

Hi @Cree Quaker,

Thanks for the welcome! I'd love to meet you and chat, will PM you!

Dacia

Hi all --

I'm a new investor, in the process of a career change. I've previously done a startup magazine/media company and a startup nonprofit, both in NYC. I'm making a lifestyle shift to living upstate and right now deep in learning about real estate investing. I currently own a coop apartment in Brooklyn and a cabin in the Catskills that I cashflow through AirBnB rentals. I'm interested in investing in small multifamily properties and vacation rentals, focusing on the west side of the Hudson River with a particular interest in multifamily properties in Kingston and cabins/cottages in the Catskills. I'm also interested in talking with other women investors, and I'm reading and listening to the BiggerPockets podcast a lot right now as I figure out my strategy.

I'm looking forward to talking and learning with everyone!

Dacia