You have $200k to spend on a home within 2 hours of NYC, including renovations. Where would you look?

As mentioned before, I’m in search of a flip. I could put myself into debt for a year and not be able to afford pet food or even human food but I’d rather not, so I’m sticking to a budget of $200k. Yeah, I know. It ain’t gonna be in Brooklyn. Not even split with a partner. Not even a one bedroom apartment in a fringe neighborhood.

After searching for about a month, here’s what I’ve learned…

You want to own a home in the boroughs for $200k? It’s possible. There are homes in crappy parts of Bushwick, Jamaica and East New York. Actually, pretty difficult to come by houses for under $300k, but short sales exist. If you’re purchasing a short sale, be prepared to have it drag on for close to a year.

Saw a couple of listings out on The Island. Riverhead and Central Islip. A friend from The Island wasn’t too impressed with those locations. Saw quite a few listings in Jersey City and Newark, especially Newark. No, the JC listings were not prime JC.

So, what’s the best bet for finding a home for under $200k (Oh, did I mention that INCLUDES renovations?)? Upstate. Whether it be commuter location or second home, the houses exist. Saw a bunch in Rhinebeck and one in Hyde Park that I may put an offer on, but it will only be back up as someone got to it first. Bastards.

Today I’m heading up to Warwick. That’s a commuter area and there are about 4-5 listings to look at. It’s promising.

So, you want a house on a small budget? You can do it. As long as you’re not a whiny douche like this guy.