Updated almost 2 years ago on . Most recent reply
Is investing in NYC worth the headache?
Interested to see if anyone here has experience buying and LTR within NYC. I have looked all over the country for rental property and finally found some positive cash flow in properties in my own backyard in solid A/B neighborhoods. My question is - everyone gets scared off of NYC because it is so tenant friendly and you often hear horror stories of being unable to evict people - is the risk worth the reward?
Most Popular Reply
Agreed with @Mohammed Rahman, screening tenants effectively will play a huge part in avoiding eviction problems.
@Chris Schmitt, keep in mind, you will have the opportunity to interview tenants after they pass the initial sniff tests - rental application; supporting documents (paystubs, proof of funds, credit report, references, etc); background check.
On the interview, you/your broker will be able pick up on red flags, discrepancies, true motivation for moving, etc.
- Abel Curiel
