All Forum Posts by: Reid Petersen

I work in finance full-time in New York as well. Its not impossible to get cashflow properties in NYC. If you want to invest in Harlem (near Columbia University) you can actually get decent cash on cash returns because of the J-51 tax abatement. The tax abatements generally expire in 10 - 15 years and are worth at least $500 a month in incremental cash flow.

http://www.nyc.gov/html/dof/html/property/property_tax_reduc_j_51.shtml