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What are the top two investments I would recommend to anyone looking to purchase in New York City right now?
Number one, a rental building. Why?
Yes, you’re going to deal with the headaches of tenants and potential loss of income because of rents and all those other things. However the one thing that continuously happens in New York is people always move in and move out of the city.
Rents are at an all-time high right now. So as an investor, if you can get an asset that is affordable, within your budget, and can make sense for you to do minor renovations and/or renovations to get it ready to lease, having a rental property in New York City is a great asset that can build wealth.
Check the next post for the next tip!