subject: New York Real Estate Investment: Yay Or Nay? [print this page] New York. The land of opportunities. Many people from across the globe dream of living or working in the Empire State. With lots of money-making opportunities available in New York, one cannot help but to aspire to be part of this dynamic place.
If youre a real estate entrepreneur who wants to step up your real estate investing career, you can find great opportunities in the Empire State. By making a New York real estate investment, you can take a step closer towards fulfilling your dreams and reaching your goals.
What makes New York an ideal place for real estate investors? For starters, the Empire State is the third most populous state in the country. An estimated 19.5 million people are currently residing in New York and everyday, more and more people are relocating to the state, hoping to find the big break that will change their life. As a real estate investor, this opportunity is something that you shouldnt miss. With new residents flocking to the Empire State, it would be easier for you to find tenants for your rental properties or buyers for your single-family homes.
In addition, a recent public sentiment survey conducted by Fannie Mae showed that most Americans still consider homeownership as the American Dream despite the current market condition. According to the housing organization, around 70% of the people surveyed between December 2009 and January 2010 regard a residential property as one of the safest investments available. This only shows that making a New York real estate investment can be safe and profitable since many homebuyers are still keen on fulfilling the American Dream.
Another reason why it is a good idea to set up a real estate investing business in New York is because of the local economy. The state economy is the third largest in the country, with New Yorks gross state product registering at $1.1 trillion in 2007. Although The Big Apple, New York City, is known to be the top contributor to the Empire States economic growth, the state has other productive cities, suburbs, and rural areas.
Because of the prosperity that the state is enjoying, New Yorkers will be more reluctant to leave the state. If youre planning to invest in rental properties, this is good news for you since the vacancy rate in your properties can be minimized.
Indeed, having a New York real estate investment can be your ticket to success. To get started, visit www.REIWired.com.
