How do investors even cash flow in NYC or SF Bay Area, CA?
We know that HCOL cities have high rent, high property taxes, and high prices for everything. This year, my Slack acquaintance couple purchased a $2.6 million 3bedroom condo apartment in Greenwich Village, Manhattan with intention to rent it out in a few years to pay off their $4k/month mortgage. I'm skeptical if this HCOL apartment will even cash flow. If you're an investor in a HCOL major city, are you seeing any cap rates at today's prices in the HCOL cities where your properties are located?