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Updated over 10 years ago on . Most recent reply

Lorenzo Bernasconi's profile image
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Lorenzo Bernasconi
  • from Brooklyn, New York
  • Member since Sep 5, 2014
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Lorenzo Bernasconi's profile image
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Lorenzo Bernasconi
  • from Brooklyn, New York
  • Member since Sep 5, 2014
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Lorenzo Bernasconi
  • Brooklyn, NY
1
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Buying & Selling Real Estate

2% rule in NYC

Lorenzo Bernasconi
  • Brooklyn, NY
Posted
Hi, I'm new to real estate investing and came across the 2% rule for investment properties. I'm looking to invest in NYC (5 boroughs) and can't see how this rule of thumb applies. Purchase prices seem so much higher as to make this target seem impossible. Any advice would be much appreciated! Thanks! Lorenzo
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Lorenzo Bernasconi
  • from Brooklyn, New York
  • Member since Sep 5, 2014
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Lorenzo Bernasconi
  • from Brooklyn, New York
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Lorenzo Bernasconi
  • Brooklyn, NY
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Lorenzo Bernasconi
  • Brooklyn, NY
Replied

Great -- thanks very much.  This is very helpful.  Even a 1% rule though seems like a lot for NYC.  Would it be imprudent to invest in anything less than this?  Thanks!

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