All Forum Posts by: Phylicia Stephenson

Does anyone know if Missouri city has a good flow of renters? Any thoughts?

hi. What are some profitable markets in new york for new flip investors that would have to go the mortgage route? I live in the queens-long island-bk area. Would it b wise or risky to broaden my search to NJ if my total cash investment was at the lower end (50-70k)?

Hey I'm looking to investing in Long Island too.

Like you, I'm sure I'll be doing a lot of work on my own at first though. I'm moderately handy and picking up skills as I go along like tiling and trying to figure out my limitations.

Like everyone else said though.. you may have to eat into some of that projected profit to get things done more timely and limit the holding cost.

- Good Luck

 Very true. And thats why trying to do a duplex still weighs heavily on me. Especially for the first couple of years i'll still be dependent on my full time job which is 3-4days a week, but very demanding... so traveling to binghamton between me and my husband is doable, but daunting. 

Perhaps buy a duplex in the long island/queens area, get realistic and realize that i wont live rent free.. hahaha.... then use my monthly savings to slowly upgrade the house and then sell within 2 years for a profit. The benefit of downstate vs upstate is that at least downstate has appreciation on houses. When i'm tired of binghamton, its hard to cut loose without a loss unless i bought the house dirt dirt cheap.

Thats a really good idea. I havent looked into complete rentals there yet. I will definitely look again. My only fear for that area is nonpayment in perhaps an area that has cheaper houses or people who have good jobs wouldnt want to live there. But i suppose directing housing towards the hospital/school crowd there might work! 

Thanks!! 

Hey Noah.

How has your plan been working?  I use to go to bing as well in their nursing program and am looking to come back to that area to get started in real estate.

Hi everyone,

Newbie here.  I'm new to real estate investing but its been a dream of mine for years now.  I'm in my twenties but well established with a solid career in the medical field which gives me an appreciable amount of income to save and invest.    I've always been interested in flipping houses but recently I've started giving renting an owner occupied duplex a thought.  Since i currently rent, it would hopefully free up more income to reinvest in flipping properties.

The problem I've encountered is that I live in Nassau County with, imo, overlypriced properties with high taxes. If i wanted my duplex dream within a year, I could do a FHA loan, but I don't believe what I could rent it for would cover my monthly mortgage.. not even considering money I would have to reserve for incidentals.

The second thought I've been researching would be to buy lower cost properties in upstate new york and rent to college students while still living in long island.  I went to college up there so I am familiar with the areas.

So many ideas.  Any thoughts?