NYC rent to live / buy to invest?

[Nick B.]

Hey guys. I'm new to bigger pockets and to real estate. I currently rent a 2 bedroom in manhattan for me and my family but am looking to buy a place. Everything we like ends up being between 2.5 and 3M for a 2 bedroom apartment (gotta love Manhattan) and I'm wondering if it would be better to just continue renting and invest outside of the city. Currently we are paying $6500 +/month in rent and have about $300k saved up for investing purposes. I would really appreciate any input you all may have regarding strategy and how you would proceed. Thanks very much in advance! Nick

[Eddie T.]

@Taylor Brugna For years i worked in manhattan and lived in queens the commute argument my friends make to me just does not make sense. Live in manhattan pay 6k a month in rent so you can get to work in 15 mins or save 3k a month and commute 45 mins. 

Ok so you sacrifice 45 mins each way but you have an extra 3k a month available to you to invest. One of my best friends makes 250k a year and pays 5k a month in rent to live in the financial district, I make less then half his yearly salary but guess who he calls when he needs to borrow money. Me.

PS I was born in NYC have lived here my entire life we actually have trees in queens lol quality of life in manhattan is over rated.