NYC investor/landlord - LLC or not, West Village or Upper East

[Ryan Still]

Hi BP buddies,

I am a new investor based in Manhattan. planning to purchase 1 or 2 studios to sublet.

1) shall I register a LLC or purchase under my name ?

2) West Village or Upper East has more potential to grow if I will sell it before 2016 ?

3)  many condos have surpassed the 2007 peak but not co-op. so better deals on Co-op than Condo if they allow sublease? 

4) any suggestions if I have 600k cash in my saving?

Thank you all.

Best,

Ryan

[Amit M.]

don't know about the coop renting limitations thing (I'm a San Francisco investor, and we have TIC's), but I would stay away from "turnkey" out of state investments- appreciation usually blows, and as an outsider you usually overpay, and you're relying on others to manage it properly for you.

Especially if you have 600k and live in NYC, I'd get into your local market, where there is substantial appreciation.  If you pass on the coops, I'd look at buying 2-4 units in an upcoming area of brooklyn or maybe Harlem?  You're renting it, so do the gentrification play. Pick right and few years later....chaa-ching!!