Looking to connect with commercial multifamily owners
Hi, Im looking to get into multifamily commercial properties on Long Island NY. I am not able to find much when doing searches, basically looking to find my first one, anywhere from 5-32 units. Any advice on the subject or knowledge would be appreciated. Wondering if I should expand my searches to upstate NY or out of state as well?
Thank you
-Mike Garofalo
Most Popular Reply
@Mike Garofalo Hi Mike. I would expect the Long Island commercial multi family market would be difficult to get into and expensive as well. I’ve seen some people mentioning upstate NY lately but I don’t know how many units. NY is not a very landlord friendly state.
I’m not sure if this is true but I read that the legislation had just passed with some more rental reform laws allowing tenants up to a year free rent with landlords not being allowed to even threaten with eviction if they have extenuating circumstances like Illness, divorce, loss of job, things like that. There were also some things passed in favor of landlords but not as many. You might want to check to see if this is true if this is your first time investing.
There are other more friendly states.