Not this kind of llama
New York is quickly gentrifying, and one way that people avoid displacement is through protected leases (like rent stabilized or rent controlled apartments). An even better way is through ownership, but long before property values in an up-and-coming neighborhood skyrocket, it’s still relatively expensive to own a home on a single 9 to 5 salary.
Read MoreTwo of my amazing relocation clients asked me for recommendations around the city, and if you ask you shall receive. Since I put people in neighborhoods all over the city, I came up with some options in different neighborhoods.
And since it’s INTERNATIONAL WOMEN’S DAY (woo!), why don’t you grab a cool lady friend of yours and hit the town. Or you can go out with a boy…or two boys…or bring you dog; I won’t judge.
This photo is a non-sequitur but also somehow perfect for this post.
If you guys thought I wasn’t going to talk about the Cohen testimony, you must not know me that well. There’s way too much to cover, but because we are discussing how to buy in NYC, I will mention the absurdity of Trump inflating the value of his real estate holdings in order to buy the Buffalo Bills. Really, dude?
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Today’s NY Value/lesson: how much do I need to have saved to buy an apt in NYC? Because it’s different than what you need to purchase a home in, say, rural VA where I’m from. You can’t just plop down $30k in cash and close 3 weeks later with no agents or lawyers involved. Here’s the basic rundown of what you will need for different types of purchases.
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Do I want you to work with someone you trust? Yes. But are you going to? Probably not. I can talk until I’m blue in the face about all the reasons you should bring your own TRUSTED advisor to the table, but at the end of the day, if you want to DIY it, here are some tips and tricks that will make you look smart and hopefully not get totally screwed over.
Read MoreIn both of my real estate trainings I have been told to ignore the news, lest it distract me from my mission and take me out of my “peak state.” I understand the theory behind this, but I think it’s crazy how many agents are disconnected, or, by getting their news only from real estate publications, have a very warped view of what is actually happening.
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A city council member, Keith Powers, is proposing a bill that would drop broker fees on rentals from 15% to a maximum 8.3%, or one month’s rent. While I completely support the thought process behind it — reducing the prohibitive fees that come with getting an apartment in NYC — I’m concerned that it won’t have the intended effect.
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It’s increasingly likely that Amazon is will pull out of its plans to move a campus to Long Island City. The company expected to be greeted with open arms and a populace/government that would be excited. Instead it has been met with anger and frustration, culminating in passionate speeches by lawmakers and protests by LIC residents.
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Going to make my landlord give me my overcharge money in $1’s so I can go Scrooge McDuck with them
As a tenant, it is very important that you look up your apartment to see if it is rent stabilized, and, if so, request your apartment’s payment history. You may not know your apartment is rent stabilized, which is why I tell you to look it up. You may be paying an illegal rent, and you may be able to get that rent returned with damages and/or interest.
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None of this is guaranteed to work, but if you do your research and are prepared for a conversation, you will at least seem like you’re actually capable of moving out and moving on, so the landlord may not want to call your bluff. Their biggest leverage is that moving sucks, but you can use the below to level the playing field.
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