NYC vs Anywhere Else

[Laura Moreno]

I would like to buy my first rental property in the US.

Because it is my first deal, I would like to invest locally but I live in New York and the returns in this area are not that great.

I have two options:

- Buy a rental property in NYC that is close by to me and sacrifice returns

- Buy a rental property somewhere else and trust a property management company for the operations

What would you do?

Thanks so much in advance!

Laura

[Darren Sager]

@Laura Moreno I wouldn't go outside the greater NYC metro area for my first place.  I'd do whatever it took to get into the best opportunity in the best location and build my portfolio from there. You'll reduce your cost of living, take advantage of real wealth creation through appreciation of this incredible area of the country, and always have an asset that will be desirable into the future.  Other areas of the country can't say that when you're out for just cash flow.