Quote from: krogothmanhattan on April 27, 2018, 02:08:15 PM

I like this idea very much....and wonder what the minimum investment would be to get on board.

Manhattan real estate prices are always increasing in price.

Having been a resident in NYC I have one word of advice to give you when buying an apartment for investment purposes or for only renting it out.

BUY A CONDO!

Buying a condo you will be able to rent for all the time you want with no hassle from the board.

They have the right of first refusal, in other words, if they say NO they will have to pay the asking rent amount. Its a win win situation

IF you buy a COOP you will be denied and you have to eat it.

COOP is cheaper than CONDO.

Also most COOPs will refuse your right to purchase as they are no investor friendly!

Condos are more expensive than COOPs, but worth it!

Make sure the real estate property the building is sitting on is owned by the building and not being leased from another land owner!

Make sure the financials are solid, in other words...a nice large reserve exists and you are not bleeding money because of poor money management!

Not only will you make money thru renting the apartment but you will also have the apartments value increase over time, and that in itself will increase over time!

Well I am not interested in COOPs at all. They are a pain in @$$ to deal with and like you said, are not investor friendly.

What I have done is identified smaller sub-pockets of the neighborhood. These pockets have good quality condos and are close to either subway stations/university/major corporations. This makes them ideal for renting out.

And yes, this would require a buffer capital to allow maintenance costs while looking for tenants.

The challenge is how to work on the ownership model. A legal entity in US will own the real estate. But how to translate that into fractional ownership via crypto?

kittucrypt

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