Investing in NYC

Question

Is anyone building a personal portfolio of properties in NYC? Now seems like a good time to get into the market as I am seeing 5-6 unit MF buildings in the outer borough's trading for as low as $125K/unit and 6.5% -7% CR's.

Multif@mily4Life · Accepted Answer

Ozymandia

Multif@mily4Life

I'm not sure why people are so down on your idea.

Because "buy low, sell high" isn't an idea.  It's a meme.  Owning and operating real estate anywhere is a lot more involved than just buying at a good price, and you can dial that up to 11 in NYC where tenant protection is a thing and there is a ton more regulation.

I agree on most of this, but disagree on "buy low" being a meme. There are plenty of examples where people bought when others were fearful and made a killing (e.g., SFR post financial crisis, the stock market back in March, etc.).

Ozymandia · Answer

Fred Fredburger

Ideally, yes.

Ozymandia · Answer

Multif@mily4Life

I'm not sure why people are so down on your idea.

Because "buy low, sell high" isn't an idea.  It's a meme.  Owning and operating real estate anywhere is a lot more involved than just buying at a good price, and you can dial that up to 11 in NYC where tenant protection is a thing and there is a ton more regulation.

Yeah there's some regulatory risk, but from my understanding working with partners in New York the situation is stable from that perspective.

We just saw a massive regulatory change not even 2 years ago.  And then another one with the

Ozymandia · Answer

Christian12

We get it, your deal went sour and NYC got the best of you -- its unfortunate and hopefully it all works out for you.

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Investing in NYC

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