Buying an NYC Investment Property?

Real estate investors still regard New York City as the best place to buy high-value properties.

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And that's because there's always high demand among renters and buyers.?

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An NYC investment property has massive earning potential, especially if it's located in great neighborhoods.?

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Even as homebuying has taken a nosedive these past few months, rental properties remain robust as more people transition from owning to leasing living spaces.?

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As demand continues to pick up, investors will continue to enjoy high yields.?

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But what does it take to succeed as a real estate investor in the Big Apple? Let me give you some advice taken from my experience working with local and international investors:

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1. Know what's happening on the ground

As any savvy investor would, you need to take your time to test the waters and know what lies ahead.?

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Avoid relying on gut feelings and hype to make decisions. The NYC real estate market is more complicated below the surface, so it pays to understand what's happening on the ground by talking to a real estate professional with local expertise.?

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Doing your homework will spare you from headaches and costly mistakes, so bide your time and get an expert to help you craft your strategy.

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2. Determine the risks you need to take

Any investment vehicle is subject to varying degrees of risk. In addition to market fluctuations, real estate investors like yourself need to consider the behaviors of renters, local ordinances and regulations, and structural factors such as the age and condition of the property you want to acquire.?

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Get advice from veteran investors in the Big Apple and build networks that include landlords, contractors, private lenders, attorneys, and local chambers of commerce who can help you make better decisions.

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3. Explore all investment options

Diversifying your assets is the key to successful real estate investing, so it's always important to go beyond apartment buildings and look for other ways to build a healthy cash flow.?

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One option is to purchase a property, make improvements, and rent it out. Another is fixing and "flipping" distressed buildings.?

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If you want a less risky investment option, go for a real estate investment trust which allows you to receive dividends from a pool of publicly traded real estate assets and mortgages.?

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4. Know what renters want

I can't tell you for certain which neighborhoods are ideal for investors. Both Manhattan and Brooklyn have areas that appeal to renters with limited budgets and specific lifestyle preferences, but it's difficult to pinpoint which neighborhood fits your investment goals. A safer approach is to choose properties that today's renters love.?

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These include apartments and condos that offer shorter commute times and immediate access to green spaces.?

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For families, living within great school districts and near leisure areas is a priority. Don't limit yourself to neighborhoods when you can purchase properties in areas that strike a balance between affordability and livability.

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Investing in an NYC real estate property isn't for everyone. But if you do it right, you could open up a massive income stream that keeps on flowing!

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All it takes is making well-informed decisions with the help of an experienced NYC real estate broker.

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Start looking for an investment property to add to your portfolio. Call me at 917-627-5677 or send an email to [email protected]?so I can show you a few apartment and condo listings you might be interested in.

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Talk soon,?

Eli

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