Pet Friendly Apartments in New York City Part I
According to Animal Fair Magazine New York City was chosen as the nation’s pet friendliest destination. According to Animal Fair Magazine, “The Big Apple is not just a tourist attraction for people anymore, but is inviting for their traveling pets too! Animal Fair is proud to present New York City the Pet-Friendliest Destination Award of 2008!”
So if New York City is so pet friendly for tourists why is it hard to find an apartment to rent or buy for the pet lovers who call New York City their full time residence?
Buying or renting an apartment in New York City can be a challenging process. Now factor in owning one or more pets and it can be overwhelming. Every building has a different pet policy, some won’t allow any pets, some will allow only cats, others allow dogs below 40 lbs, others just one dog. So what do you do if you have two 150 lb Great Danes, or if you are moving to the city and you will be bringing with you a 95 lb Rottweiler that’s been a part of your family for 10 years.
What buildings are pet friendly? Am I better off buying a co-op or condominium because I have pets? What buildings allow certain breeds? Did you know that certain New York City buildings cater to dog loving enthusiasts? Where are the most pet friendly dog parks?
If you are buying into a co-op you might have to bring your dog or dogs with you to the interview process so your pets can mingle with the pets of the current owners to make sure they get along. When renting an apartment we help our customers write a cover letter with pictures and description of their pets so the owner or management company can see the pet and get an idea of what type of factor or non-factor the pet may be.
We understand the difficulties with finding apartments that are pet friendly and navigating the maze. We know the buildings that are pet friendly in Manhattan. Contact us Now if you are looking for an apartment for you and your pet!
for more related post visit:
Active Rain Blog
NY Times Article
Showing posts with label Condo. Show all posts
Showing posts with label Condo. Show all posts
Sunday, November 9, 2008
Saturday, November 8, 2008
Everyone Wants To be a Real Estate Investor!
With the Wall Street and Financial Situations, we have heard that the Manhattan New York City Real Estate market has took a slight dip. That may be good for the buyers out there, vulture buyers in particular, or the amateur Real Estate investors to dive in. But before you decide to make your Real Estate investment move, it is important to plan and ask yourself some important questions...
Why are you investing? The first question a first time investor should ask themselves is what are my reasons to invest in Manhattan Real Estate. Am I looking to buy and hold for the long term and be a landlord, am I looking for a fixer and upper project to flip, do I just want a property to stay at when I’m visiting in Manhattan as second home as we called it 'Pied- a - terred' or because you’re looking for a tax shelter. These are all valid reasons, but each reason will require different strategies in purchasing and resources necessary to have a successful outcome.
Have a plan. Increase your investment knowledge. Take the time to understand your investment options and the pros and cons of each. Investing is a big financial commitment, It is important to understand all the risks involved and perform a significant amount of due diligence before making a transaction. Depending on your exit strategy, how you purchase a New York City property at the beginning can have dramatic consequences. Consulting your CPA and real estate attorney regarding the tax outcomes when you sale is essential to a successful plan. If you are a foreign nationl, you must consult a Real Estate attorney before you start looking to understand the complex tax structure and structure the transaction best suitable to you.
Know when to buy. Is this a good time to invest? That’s a very good question and likely question you’ve probably already asked yourself. Depending on your goals, long term investment, versus short term flip, will have various answers. Obviously, the goal of every investor is to make money. Depending on your reasons for investing will answer if this is a good time to buy. In the current New York City Real Estate market, industry experts are stating that your minimum hold time for property should be 5 years. If you have plans to hold for longer than 5 years you should see a profit on the property.
Know where to buy. This is where the help of a real estate expert can have tremendous upside effect for your investment. Understanding New York City neighborhood you are buying into and more specifically the building that you looking to purchase in is absolutely important. How close is it to the subway, is this building pet-friendly, what type of amenities does the building have, does the building allow shares or conversions, what type of demand long term does the neighborhood have? These are all questions you should be able to answer or your real estate broker should be able to answer for you. Is it New Development, which new development, is it resale condominium units, which seller is most motivated, is it a tenant in place already property, how is the lease structured within the contract?
Who should manage the property? Are you going to be the landlord or is someone else doing it? That could spell additional expenses if you pay someone else to manage your tenants and rentals. But if you’re buying outside of your own neighborhood, you may find that hiring a property manager is the only choice you have.
Don’t get emotional. Buying the property is a huge commitment. The goal is make the biggest return on your investment. Buying or not being because of personal taste should not outweigh the financial situation of each building. Getting that first tenant in the property will be nerve racking, but it’s a financial decision, let the facts do the speaking for you.
How am I going to rent out my property? Renting in New York City is like no other place in the United States. The owner typically depending on the market does not pay the commissions, the renter does. How are you going to advertise the property, what about the leases and background credit checks? How much is the rent, what about security deposits? Having a knowledgeable real estate professional on your side is very important. This is a conversation you should have when you first speak to a real estate professional about purchasing.
Know the basics and the math. You don’t have to have a PhD. in mathematics to understand the math involved in an investment property. Does this property cash flow? What are the after tax benefits? Speaking with your CPA, attorney, and Real Estate professional about the profitability of the property is important.
With these tips, there will still be different factors you need to consider based on your individual situation.
It is important to team up with a Real Estate agent, a really good one, that will able to guide you through this complex housing market and tackle on this lucrative project! To request more information or tips, please contact us today.
Why are you investing? The first question a first time investor should ask themselves is what are my reasons to invest in Manhattan Real Estate. Am I looking to buy and hold for the long term and be a landlord, am I looking for a fixer and upper project to flip, do I just want a property to stay at when I’m visiting in Manhattan as second home as we called it 'Pied- a - terred' or because you’re looking for a tax shelter. These are all valid reasons, but each reason will require different strategies in purchasing and resources necessary to have a successful outcome.
Have a plan. Increase your investment knowledge. Take the time to understand your investment options and the pros and cons of each. Investing is a big financial commitment, It is important to understand all the risks involved and perform a significant amount of due diligence before making a transaction. Depending on your exit strategy, how you purchase a New York City property at the beginning can have dramatic consequences. Consulting your CPA and real estate attorney regarding the tax outcomes when you sale is essential to a successful plan. If you are a foreign nationl, you must consult a Real Estate attorney before you start looking to understand the complex tax structure and structure the transaction best suitable to you.
Know when to buy. Is this a good time to invest? That’s a very good question and likely question you’ve probably already asked yourself. Depending on your goals, long term investment, versus short term flip, will have various answers. Obviously, the goal of every investor is to make money. Depending on your reasons for investing will answer if this is a good time to buy. In the current New York City Real Estate market, industry experts are stating that your minimum hold time for property should be 5 years. If you have plans to hold for longer than 5 years you should see a profit on the property.
Know where to buy. This is where the help of a real estate expert can have tremendous upside effect for your investment. Understanding New York City neighborhood you are buying into and more specifically the building that you looking to purchase in is absolutely important. How close is it to the subway, is this building pet-friendly, what type of amenities does the building have, does the building allow shares or conversions, what type of demand long term does the neighborhood have? These are all questions you should be able to answer or your real estate broker should be able to answer for you. Is it New Development, which new development, is it resale condominium units, which seller is most motivated, is it a tenant in place already property, how is the lease structured within the contract?
Who should manage the property? Are you going to be the landlord or is someone else doing it? That could spell additional expenses if you pay someone else to manage your tenants and rentals. But if you’re buying outside of your own neighborhood, you may find that hiring a property manager is the only choice you have.
Don’t get emotional. Buying the property is a huge commitment. The goal is make the biggest return on your investment. Buying or not being because of personal taste should not outweigh the financial situation of each building. Getting that first tenant in the property will be nerve racking, but it’s a financial decision, let the facts do the speaking for you.
How am I going to rent out my property? Renting in New York City is like no other place in the United States. The owner typically depending on the market does not pay the commissions, the renter does. How are you going to advertise the property, what about the leases and background credit checks? How much is the rent, what about security deposits? Having a knowledgeable real estate professional on your side is very important. This is a conversation you should have when you first speak to a real estate professional about purchasing.
Know the basics and the math. You don’t have to have a PhD. in mathematics to understand the math involved in an investment property. Does this property cash flow? What are the after tax benefits? Speaking with your CPA, attorney, and Real Estate professional about the profitability of the property is important.
With these tips, there will still be different factors you need to consider based on your individual situation.
It is important to team up with a Real Estate agent, a really good one, that will able to guide you through this complex housing market and tackle on this lucrative project! To request more information or tips, please contact us today.
Thursday, November 6, 2008
How is the Market!?
Well that depends! Are you interested selling, buying, or investing? This is the number one question people ask us right now about Real Easte. There is no singular answer. What we do know is that we are continuously working and helping our customers who have specific and real needs to buy or sell property. Relocation, expanding families, downsizing, financial problems, these are the reasons why our customers are buying now.
More frequent communication with sellers is needed. In this market, sellers are counting on professionals to keep them inform as to what is going on with the current market, the activities or sometimes the lack of activity on the market place. Sellers (the motivated) ones are willing to listen to offers, counter offers, and possibly accept less than what they think they can get if it is an ALL CASH buyer. However, I have not yet seen a seller that is willing to sell it at a 'basement fire sale' price.
On the buyers' side, if ones does not need financing, and yes, this is the market that we would consider CASH IS KING...
I think this is a great time to go out there shop around and make aggressive (not necessary low ball) offers.
We have also seen an upturn in rental business. Renters are seeing more and more incentives being thrown their way in the form of reduced rents, free first months rent, other creative offers to attract more activities.
More frequent communication with sellers is needed. In this market, sellers are counting on professionals to keep them inform as to what is going on with the current market, the activities or sometimes the lack of activity on the market place. Sellers (the motivated) ones are willing to listen to offers, counter offers, and possibly accept less than what they think they can get if it is an ALL CASH buyer. However, I have not yet seen a seller that is willing to sell it at a 'basement fire sale' price.
On the buyers' side, if ones does not need financing, and yes, this is the market that we would consider CASH IS KING...
I think this is a great time to go out there shop around and make aggressive (not necessary low ball) offers.
We have also seen an upturn in rental business. Renters are seeing more and more incentives being thrown their way in the form of reduced rents, free first months rent, other creative offers to attract more activities.
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