Skyline of NewYork

New York Investment Property Loans and Real Estate

Get a piece of the Apple

From small-scale investors to foreign national buyers, buying a piece of the Big Apple as an investment rental property isn't just for real estate investor moguls. For less than $500k you could be a landlord in NY. People now afraid of the stock market are looking for a place to park their money somewhere safe. Those who never looked for rentals as investments are entering the New York real estate market in increasing numbers.

All About New York

One of the 13 original colonies and states, it sits next to two beautiful lakes and an ocean, Lake Erie, and Lake Ontario, and the Atlantic. NY borders Canadian provinces and five states; Vermont, Massachusetts, Connecticut, New Jersey, and Pennsylvania. The capital is Albany. A historical leading state in nearly all population, cultural, and economic indexes, until the 1960s, it was number one.

Economy

New York's economy is dominated by New York City and has many other very strong productive cities, suburbs and rural areas. According to the Federal Reserve Bankthe Total Personal Income (NYOTOT) of the state in 2015 is about $100 trillion.

NY's economy added over 160,000 private sector jobs in the past year alone, dropping New York State’s unemployment rate to 5.2%, the lowest level in more than seven years

NY's economy added over 160,000 private sector jobs in the past year alone, dropping New York State’s unemployment rate to 5.2%, the lowest level in more than seven years

This year saw a 2.6 percent increase in private sector employment, thats nearly 930,000 jobs of which 280,000 was in May of this year alone. Recent New York state tax breaks have created nearly 61,000 local jobs in the media industry.Figures like those are likely to increase and strengthen the markets for investors of commercial rental property of all types.

Since 2013, venture capital firms have invested billions in high-tech companies in New York City, making up about one-third of all venture capital funding for the region. This ranked New York as third in capital among the nation’s regions, following Silicon Valley and New England.

https://www.osc.state.ny.us/osdc/rpt2-2015.pdf

Population

According to the U.S. Census Bureau, as of 2010, New York was the third largest state in population. New York has a population of 19.7 million people Among the state's economic development regions, New York City has seen the greatest population growth since 2010—a 3.86-percent increase, to 8.4 million residents according to the census bureau.

The distribution of change in population growth is uneven in New York State; the New York City metropolitan area is growing considerably, along with Saratoga County, while most of Western New York is nearly stagnant.

The center of population of New York is New York City located in Orange County, in the town of Deerpark. Roughly 64% of the state's population lives in the New York City metropolitan area and 53% in New York City alone.

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Tourism

Welcome to the Big Apple, serving over 56 million foreign and American tourists each year including day-trippers. Famous for it's “I Love New York” (stylized I ❤ NY) logo and song since 1977, it is trademarked logo, owned by New York State Empire State Development, appears in souvenir shops and brochures throughout the state, some licensed, many not. The song is the state song of New York.

NY Real Estate Data Trends

The median rent price in New York is $3,600 with a home value of about $580,000. New York home values have gone up 5 and a half % over the past year and predicted to rise by at least 3% within the next year.

In Summary

The New York investment real estate market has been steady and growing since 2011 with trends in profits for the rental market. It is highly attractive to foreign investors and locals looking for a safe place to let their money grow.

NY Real Estate Resources

Landlord Real Estate Law in New York:

Investment Real Estate for sale by the State of New York:

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Read 3161 times Last modified on Wednesday, 10 May 2017 06:35

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