All Forum Posts by: Christopher Pray

Hi Erin,

I'm from Queensbury, but recently moved to NYC after graduating college this past May. I'm looking to get started investing too and Queensbury and Glens Falls are on my radar. Good luck and I'd be happy to chat about real estate sometime. Happy holidays.

Best regards,

Chris

Hi BP,

Can anyone suggest a good real estate agent in the New York City metro region? The agent must have experience working with real estate investors and knowledge of small multifamily (2-4 unit) properties in the area. The small multifamily property I'm looking for will need to be financed with an FHA or FHA 203k loan of no more than $500k, be located near a train station, be within two hours of Manhattan, and preferably have opportunity to add forced equity.

Thanks,

Chris

Hi BP,

My name is Chris Pray. I'm originally from Queensbury, NY. I went to college in Potsdam, NY. I recently graduated with a bachelors degree in computer science and mathematics in May. I got a job as a systems engineer in Yonkers, NY and I currently live in Jersey City, NJ. I'm new to real estate, but it's always been an interest of mine. I feel that the time is near to start investing. Below are some of my goals. Please feel free to comment or offer advice.

Year 1:
- find an apartment to rent that's closer to work (I commute about 1 hr, 45 mins one way)
- pay off debt (~$10k student loans, ~$5k car, ~$3k credit card @ 0% apr for another yr)
- live frugally and save as much as I can (my goal is to save $20k)
- learn as much as I can about real estate investing

Year 2:
- decide on a market to invest in (*)
- decide on a strategy (leaning towards buy and hold, either single families or small multi-families)
- start creating systems for marketing and lead generation (I think this is key for my long-term goals)
- possibly start making offers (depends on financing and location)
- save money from job income (goal is $40k)

Years 3-5:
- make deals
- seek higher salary


(*) NYC and its suburbs are quite expensive. I'm not sure if I want to, or if it's wise for someone like me to, invest in this area. My girlfriend and I have dreams of traveling, so considering other markets is definitely an option. I don't have plans on moving away from NYC, but it's not out of the question for the future. Regardless, I'll be on the hunt for a market with homes under $100k that has a growing number of technology jobs, as I plan on staying in this career at least until I can replace it with investment income.


Thanks for taking the time to read my post. I'd be interested to hear from anyone, especially if you are in the area.

-Chris

Hi BP,

My name is Chris Pray. I'm originally from Queensbury, NY. I went to college in Potsdam, NY. I recently graduated with a bachelors degree in computer science and mathematics in May. I got a job as a systems engineer in Yonkers, NY and I currently live in Jersey City, NJ. I'm new to real estate, but it's always been an interest of mine. I feel that the time is near to start investing. Below are some of my goals. Please feel free to comment or offer advice.

Year 1:
- find an apartment to rent that's closer to work (I commute about 1 hr, 45 mins one way)
- pay off debt (~$10k student loans, ~$5k car, ~$3k credit card @ 0% apr for another yr)
- live frugally and save as much as I can (my goal is to save $20k)
- learn as much as I can about real estate investing

Year 2:
- decide on a market to invest in (*)
- decide on a strategy (leaning towards buy and hold, either single families or small multi-families)
- start creating systems for marketing and lead generation (I think this is key for my long-term goals)
- possibly start making offers (depends on financing and location)
- save money from job income (goal is $40k)

Years 3-5:
- make deals
- seek higher salary


(*) NYC and its suburbs are quite expensive. I'm not sure if I want to, or if it's wise for someone like me to, invest in this area. My girlfriend and I have dreams of traveling, so considering other markets is definitely an option. I don't have plans on moving away from NYC, but it's not out of the question for the future. Regardless, I'll be on the hunt for a market with homes under $100k that has a growing number of technology jobs, as I plan on staying in this career at least until I can replace it with investment income.


Thanks for taking the time to read my post. I'd be interested to hear from anyone, especially if you are in the area.

-Chris