How to Invest in NYC Real Estate
The Complete Guide to Buying Investment Property in NYC: https://www.hauseit.com/buying-investment-property-nyc/
Calculate Your Buyer Closing Costs: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
In this Hauseit tutorial we’ll go over the pros and cons of investing in real estate versus the stock market and the tax benefits of real estate investing. We’ll also challenge some commonly accepted advice such as buying investment property in an LLC.
If you’re thinking of buying an investment property, you may also be interested in estimating your buyer closing costs in NYC using Hauseit’s interactive closing cost calculator available at www.hauseit.com. You can also save money on your purchase by requesting a Hauseit Buyer Closing Credit.
Should I Invest in Real Estate or Stocks?
Unlike stocks, real estate opportunities are much harder to identity and transact. A real estate investment in NYC can take months to identify, negotiate and close.
You’ll also need to consider timing and your expected holding period when deciding between NYC real estate and the stock market. Stocks and bonds have minimal transaction costs, and you can usually exit an investment within the same day compared to six months or more when it comes to selling a property. Even if you’re able to find a buyer, your returns will be crushed by high real estate broker fees and other seller closing costs.
You should also think about lifestyle considerations when it comes to real estate vs stocks. While it’s possible to live anywhere in the world and manage a stock portfolio, you may have to stick around in NYC to maintain your rental property.
Lastly, you’ll need to consider the work involved post investment. With stocks, the work involved is effectively zero unless you count voluntary analysis of company filings and economic data.
The work involved post-closing with rental property can be substantially more. As a landlord, you’ll need to find and screen tenants, manage repairs, address complaints from tenants, maintain books and records and follow all local rules and regulations, such as ensuring that smoke and carbon monoxide detectors are properly installed and proper notices are posted.
Tax Benefits of Buying Investment Property
The best thing about buying investment property in NYC are the tax benefits for landlords. As an investor, you can write off all expenses associated with your investment property against the rental income of the property. That means your property taxes, your common charges or maintenance, your mortgage interest, depreciation and any miscellaneous costs associated with repairing or maintaining your property.
Save Money with a Hauseit Buyer Closing Credit: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
#hauseit #hauseitnyc
https://www.hauseit.com
Calculate Your Buyer Closing Costs: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
In this Hauseit tutorial we’ll go over the pros and cons of investing in real estate versus the stock market and the tax benefits of real estate investing. We’ll also challenge some commonly accepted advice such as buying investment property in an LLC.
If you’re thinking of buying an investment property, you may also be interested in estimating your buyer closing costs in NYC using Hauseit’s interactive closing cost calculator available at www.hauseit.com. You can also save money on your purchase by requesting a Hauseit Buyer Closing Credit.
Should I Invest in Real Estate or Stocks?
Unlike stocks, real estate opportunities are much harder to identity and transact. A real estate investment in NYC can take months to identify, negotiate and close.
You’ll also need to consider timing and your expected holding period when deciding between NYC real estate and the stock market. Stocks and bonds have minimal transaction costs, and you can usually exit an investment within the same day compared to six months or more when it comes to selling a property. Even if you’re able to find a buyer, your returns will be crushed by high real estate broker fees and other seller closing costs.
You should also think about lifestyle considerations when it comes to real estate vs stocks. While it’s possible to live anywhere in the world and manage a stock portfolio, you may have to stick around in NYC to maintain your rental property.
Lastly, you’ll need to consider the work involved post investment. With stocks, the work involved is effectively zero unless you count voluntary analysis of company filings and economic data.
The work involved post-closing with rental property can be substantially more. As a landlord, you’ll need to find and screen tenants, manage repairs, address complaints from tenants, maintain books and records and follow all local rules and regulations, such as ensuring that smoke and carbon monoxide detectors are properly installed and proper notices are posted.
Tax Benefits of Buying Investment Property
The best thing about buying investment property in NYC are the tax benefits for landlords. As an investor, you can write off all expenses associated with your investment property against the rental income of the property. That means your property taxes, your common charges or maintenance, your mortgage interest, depreciation and any miscellaneous costs associated with repairing or maintaining your property.
Save Money with a Hauseit Buyer Closing Credit: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
#hauseit #hauseitnyc
https://www.hauseit.com
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