How is NYC real estate surviving?

[Andrew Brown]

Hi, Im new to BP. Queens nyc resident. trying to invest, but i see no places that are worth investing in. based on new tenant laws and high prices, how are buy and hold investors making it work?

[Mark Allen Kenny]

Welcome, @Andrew Brown!  I'm in NYC too.  I love living here but it just doesn't make sense to own rentals here.  Have you ever considered investing in Philadelphia?  It's only about 2 hours away, the cap rates are great.  The rental laws are very landlord-friendly and the property taxes are low.  It's a great place to get started if you live in NYC.  There are some good markets in Jersey as well.