Friday, August 12, 2011

The Five Cardinal Rules of Purchasing Real Estate in NYC (if you don't live here full time)

1. Find a broker you trust.  Nothing can replace neighborhood and market knowledge for pinpointing the right property for you, especially if you are a first time buyer.
2. For a first purchase, think small.  If you are buying for yourself, try something that you can manage without too much fuss or worry.
3. Buy places that are easily rentable so if you cannot be here for any length of time, your investment will pay for itself.
4. Find someone you trust to manage the property.  This person should have some experience, be known to you either directly or through people who have used him/her, and should be accessible when needed.
5. ENJOY BEING A PROPERTY OWNER.  We used to say this was the American Dream, but in our experience it is truly an International Desire! 

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