Buying Rental (Multi-Family) in New York State - Madness?

[Colin Ghira]

I have invested for about 8 years in NYS and had over 21 units. I have decided to exist the NYS market due to the regulations. No doubt there is money to be made, but the state has overstepped any sense of ownership from the landlord. It just takes a few knowledgable and devious tenants to completely derail your investment and the best thing about it is: There is nothing you can do as the state law protectes them. Luckily most tenants do not know the rules. Also better yet, and what gives me some hope is that most people appear to be decent. That's why it still can work. But, with signfiicant inflation and ppl struggling the landlords will bear the brunt of it in NYS. Subsidizing tenants and helping the government out for a while, until they will throw the towel in. Then the housing stock will degrate, banks will suffer and a circle of misery all around. Sorry to be so pessimistic, this is just a possible scenario, I hope it turns out ok.