New landlord laws in NY. What are you doing now?

Question

With the new landlord laws passed in New York, how are you all adapting to this new change? Are you staying in multi family, getting into a different niche, or are you selling and getting out of the state as quick as you can?

Trevor Ewen · Answer

@Nick Rutkowski

To be fair, it's a different dynamic up there. I imagine you'll have more staying power. It's a great place to visit. The city has a lot more negative pressure these days. Here is another example: https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html

Nick Rutkowski · Answer

@Trevor Ewen

I’m just curious to see what everyone else is doing. I run Airbnbs out of the FingerLakes so I make a small profit.

However, I sell commercial real estate too. My phone is been dead silent since they passed the new landlord laws.

Trevor Ewen · Answer

@Nick Rutkowski

People here know this about me. I have been in the 'Get out-of-state as fast as you can' camp for 6 years. I haven't regretted it yet.

Don't get me wrong. I live here, it's a great place to make a living. The people here are great, I like my life. Just keep your wealth safe, in another state. Feel free to shoot me a message if you need ideas.

New landlord laws in NY. What are you doing now?

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