New York City real estate attorney Natalia Sishodia releases a new article (https://sishodia.com/how-to-buy-an-investment-property-in-new-york-city/) that discusses how to buy an investment property in New York City. The lawyer mentions that investment properties are often the most stable long-term investments today. An investment property’s primary goal is to produce income as well as future capital return.
“While much media has focused on renovating and “flipping” real estate, the most stable investments are those kept over a period of time, offering passive income with a high degree of appreciation potential,” says the New York City real estate attorney. “However, buying investment property in New York can be complex, and investors should be knowledgeable of what it entails and the potential pitfalls that they may encounter.”
The lawyer also explains that New York City is one of the most consistent locations for price appreciation so it is also one of the best places to own investment properties. To see an appreciable cap rate, all an investor needs to have in their portfolio is a couple of New York City apartments.
Attorney Natalia Sishodia also explains that making the right choices and doing the research before making any decisions is very important when it comes to investing in properties. Manhattan and its surrounding areas are consistently high-priced and are in great demand. This is one of the reasons why sellers are usually not as motivated to work with a buyer as they may be in other areas.
According to the real estate attorney, “But there are many up-and-coming areas around the city that can be potentially suitable long-term investments for individuals, providing they are willing to make some repairs and renovations and have a little bit of patience. Looking at areas just outside of already well-established neighborhoods may still offer more reasonable pricing while piggybacking on their surrounding neighborhood’s popularity.”
Furthermore, attorney Sishodia says that the main goal for a real estate investment is to buy low and sell high. There are many boroughs and neighborhoods that have greater long-term potential. Investing in these neighborhoods may result in less risk and downside volatility.
Lastly, the real estate attorney emphasizes the importance of having a skilled attorney when it comes to dealing with matters such as investing in properties. An experienced lawyer may be able to help the client understand their rights and make guided decisions about their purchase.
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SOURCE: Press Advantage [Link]
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