My Yonkers Real Estate Plan – Guidance Welcome!

I’m planning to invest in real estate in Yonkers, NY, and I’m being intentional about setting myself up for success. I’d really appreciate any advice or insights from experienced investors—especially those familiar with Westchester County.

My Current Position

• Focused on paying off personal debt to improve my credit and DTI ratio before purchasing.

• Will have about $100K–$110K in cash after selling my co-op and liquidating assets.

• I have a contractor friend I trust, which gives me flexibility and cost savings on renovations.

My Investment Strategy

• Targeting a multi-family property only — no interest in single-family homes.

• Plan to house hack: live in one unit, rent out the others to offset the mortgage and build equity.

• Exploring different financing options, including:

  • FHA loan for low down payment and owner-occupied financing

  • Hard money loan if I find a distressed or off-market deal with strong upside

  • UFT home loan benefits (I’m a union member) for potentially better terms or servicing support

• Timeline: 12–24 months, depending on how quickly I eliminate debt and the market conditions.

What I’m Doing Right Now to Prepare

• Studying Yonkers neighborhoods, comps, and rental data weekly

• Listening to BiggerPockets podcasts, reading books, and running deal analysis regularly

• Building my team: lender, agent, inspector, insurance broker, and contractor

• Running numbers on sample properties to build confidence and clarity

• Budgeting aggressively while eliminating debt

Question for the Community

What is a good way to find a below-market deal in Yonkers on a fixer-upper multi-family? I’m open to direct outreach, networking tips, wholesaling strategies, or any creative approaches that have worked for you.

For those who’ve house hacked a multi-family: What surprised you most during or after the process?

Best strategies for finding below-market or fixer-upper multi-families in Yonkers?

Anyone used a UFT (United Federation of Teachers) loan program or union benefit to buy a property? Would love to hear about your experience.