New Yorkers love to talk about Real Estate. You can't walk a few blocks without hearing someone talk about buying or selling Real Estate. So It's no surprise that many consider buying Real Estate as an investment.
The industry has certainly done very well over the years. The average price of a a Manhattan apartment appreciated approximate 50% over the last 5 years.
Real Estate can be a great way to diversify your investments. New York has historically had a low vacancy rate: few apartments go empty in a long time. This can provide an investor with a healthy cash flow on top of long-term appreciation.
REAL ESTATE INVESTMENT
INVESTING IN UP-AND-COMING AREAS
Investing in up-and-comig neighborhoods will certainly offer more bang for your buck. Because prices are lower in these neighborhoods, you will be more likely to be able to afford the down payment and qualify for a mortgage.
The returns on properties in these neighborhoods can be higher than properties in more established areas. In New York, areas like West Harlem, The Bronx and some areas in Brooklyn, have experienced high returns in recent years, as they are gentrified.
WHAT IS REAL ESTATE INVESTING?
Real Estate investing is the purchase, ownership, lease or sale of land and any structures on it for the purpose of earning money. Real Estate generally breaks down into three categories:
ARE YOU READY FOR YOUR FIRST OR NEXT INVESTMENT?