Investment Boot Camp: Mistakes To Avoid When Investing in NYC real estate
Posted by Wei Min Tan on October 30, 2017
Publication: Brick Underground
Summary: Buyers should not be deciding based on a property’s wow factor and other tips shared by NYC’s top property agents.
Wei Min’s comments in article:
Don’t be too impressed by superficial features, says Wei Min Tan of Rutenberg, who works with many foreign investors. “If you’re buying as an investment, there’s a lot more to look at than just the lobby and amenities,” he says.
“Look instead at location of the building–driven by proximity to the subway or some kind of driver in the neighborhood, like Wall Street for example–as well as the overall quality of the building, and supply and demand within the building. There are certain buildings that have just so much supply, and it’ll take a long time to rent those apartments out,” he says.