All Forum Posts by: Bernard Klein

Hi James,

Read about your investment and would love to connect further. My wife and I own in Manhattan and Brooklyn, and always love connecting with other investors.

-Bernard

Hey Roy,

Welcome to BP. I'm based in NYC and have been investing in properties over the past 5 years in the city. That being said, there are always opportunities. It all depends what type of opportunities you're looking to capture. While rent rolls may not be great, capital appreciation in NYC is massive. Feel free to reach out if you want to connect some more.

Best,

Bernard

Hey Conway,

Hope all is going well. I'm also based in NYC and have been investing for the past 5 years. I've enjoyed every minute of it. Half the fun is checking out properties you know you can't afford in the immediate future, but it helps your mind start visualizing what success will look like. As you mentioned, prices are high, which is a large barrier, but there is also a lot of different inventory and neighborhoods to chose from.

Would love to connect further and discuss investments in NYC. Feel free to drop me a line.

-Bernard

Hi Lee,

Welcome to BP. Also from NYC here and always love to connect with locals. Feel free to drop me a line any time.

Bernard

Hey Matt,

Shoot me a note. I have a person I would like to introduce you to. He does great work and can likely help you out in LIC.

-Bernard

@Mike James Giancola

The best first investment will be in yourself. Buy your first condo in NYC. Live in it for 2 years and flip it. You won't pay taxes on the first $250K in capital gains, and you'll have enough money to plow back into another primary residence and traditional investment property.

I started out like this and went from a studio to a 2BR and investment property within 5 years. 

Feel free to hit me up for more information. Here's an article about how I made it happen:

http://www.brickunderground.com/blog/2015/02/flipp...

Hi Tyrone,

Welcome to BP. I've been investing in NYC for the past 6 years. Feel free to shoot me a message and would be happy to connect.

Enjoy the weekend!

@Sherry G.

Hi Sherry,

I actually live in NYC and am active on the RE scene over here. I think you're posing a great question.

One of the main things to consider is for how long your Co-Op will let you rent out your property for. Many Co-Ops have strict rules and regulations on these things. Being cash-flow neutral in NYC isn't a bad thing, but if you have limitations on the number of years you are allowed to rent, you may have bigger issues down the road.

Additionally, liquidating now may give you the opportunity to have additional funds to make a better investment in LA. The NYC market is hot right now, but it's all about opportunity cost.

Would love to chat further, so feel free to shoot me a message.

-Bernard

Manhattan is definitely a market for property appreciation. In this market, breaking even every month is impressive.

Also, you can go to the DOB offices in different parts of the city. Every borough has their own office. They have archaic computer systems that you can research. ACRIS might be the way to go, but it may not provide you with more than the mailing address (which you may already have if you drove by the property).