LOCATION LOCATION LOCATION!
You’ve heard it before that in Real Estate it is all about Location, Location, Location.
And in New York city, it is no different, but LET’S NOT FORGET THE COMPETITION!
The best locations to invest in are found in the most established residential neighborhoods. Everybody wants to be near their favorite restaurants, close to subway and fun places to shop.
At the same time, in New York city, there are some neighborhoods in good location that are also extremely dense with lots of condo and rental buildings.
From an investment perspective, every time your unit comes up for rent or for sale, there is going to be a lot of competition, making it that much harder for your unit to stand out from the crowd.
So when you are looking for your next investment, make sure you understand the location and most importantly your competition!