All Forum Posts by: Romano Livi

I am looking to invest outside the country, so I am reaching out to seek recommendations for a reputable tax lawyer, ideally one who specializes in international tax law and has worked with investors who own real estate abroad. I am in need of professional assistance with my company's tax matters and would greatly appreciate any insights or recommendations you can provide.

Thank you in advance for your time and assistance!

0 Votes

Quote from @Mohammed Rahman:

Hey @Romano Livi welcome to the community and glad to hear that you're ruminating the idea of house hacking! I've been an investor since 2019 and have worked with a lot of people in NYC as an agent too.

What you've mentioned is somewhat correct in terms of NYC & surrounding areas being high prices - it boils down to what your end goals are, which is why I always encourage first time investors to think deeply about it.

A lot of times, first time investors have the misconception that just because a market is not a strong cash-flow area, then all the properties are a bad investment. Sure, if that's what your priority is. NYC and other large metro areas are a *appreciation* investment market, meaning you buy & hold a property in order to sell it in a few years and bank on the property appreciating nicely.

If you're wanting to househack, you're probably wanting to own a multifamily and have your renters cover your mortgage and then some. In that case, unless you're very lucky, NYC won't be the best market for you. Alternatively, there are more options available if you go into Long Island and keep your commute range to within 1hr via the LIRR.

Shoot me a DM if you want to have a more in-depth convo about it, happy to shed some light.

Thanks for the detailed answer Mohammed. I'd love to connect and talk more about this!

1 Vote

New York City, New York

Quote from @Lindsay Op de Coul:

@Shawn Mcenteer could probably help you out with some thinking on house hacking!

Thank you Lindsay, NJ sounds like a possibility for me so I'd love to connect with anyone from that area!

0 Votes

New York City, New York

Quote from @Julio Gonzalez:

Hi Romano, welcome to the community! You came to the right place to learn more about real estate investing!

Thanks Julio!

0 Votes

New York City, New York

Hello everyone,

I'm a new member of BP, I've always been really interested in real estate investing and decided this year to begin building my portfolio.

I'm really interested in house hacking and renting out multi-family homes, but living in NY I'm not so sure if this is the right area to pursue these investment strategies. I'm not sure if buying a home in the NYC area is a smart bet since 1) everyone lives in apartments and 2) Houses are crazy high and low quality. I always wanted to do a house hack for my first property, but I don't believe it's the right move which is why I'm hesitant.

I'm interested to hear the communities thoughts on the best areas to invest in NYC, or if I should look elsewhere due to the strategies I want to implement.

3 Votes

New York City, New York

All Forum Posts by: Romano Livi

Romano Livi has started 2 posts and replied 5 times.

Post: Recommendations for a Tax Lawyer (bonus if specializes in international tax law)

Post: New Member from NYC. Curious about best areas to invest.

Post: New Member from NYC. Curious about best areas to invest.

Post: New Member from NYC. Curious about best areas to invest.

Post: New Member from NYC. Curious about best areas to invest.