{"id":3126,"date":"2022-01-24T11:18:56","date_gmt":"2022-01-24T11:18:56","guid":{"rendered":"https:\/\/WWW.litpoodle.com\/blog\/?page_id=3126"},"modified":"2023-05-06T12:49:56","modified_gmt":"2023-05-06T12:49:56","slug":"rental-properties-in-new-york","status":"publish","type":"page","link":"https:\/\/www.litpoodle.com\/blog\/rental-properties-in-new-york\/","title":{"rendered":"Rental Properties in New York"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3126\" class=\"elementor elementor-3126\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1cd1bc74 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1cd1bc74\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fd1124\" data-id=\"5fd1124\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22695a7a elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"22695a7a\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.4 - 23-01-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Rental Properties in New York<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-71a35465 elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71a35465\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-218a7e94 elementor-invisible\" data-id=\"218a7e94\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fb6384a elementor-widget elementor-widget-text-editor\" data-id=\"fb6384a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.4 - 23-01-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>It can be very tempting to settle for a property when you are buying <a href=\"https:\/\/www.litpoodle.com\/blog\/rental-properties-in-new-york\/\"><strong>rental properties in <\/strong><strong>New York<\/strong><\/a><strong>, <\/strong>or any other region, for\u00a0the first time. Your imagination has you dreaming of a regular rental income and the ability to move up the success ladder. So the anticipation can easily turn to impatience. Most first time investors are surprised by how many home tours, negotiations and effort is required before finalizing\u00a0on a property. On an average it takes 4-5 months to close a property deal\u00a0from start to finish.\u00a0But definitely be prepared for the process to be longer, especially when the housing market is hot\u00a0and in areas where the buying competition is fierce.\u00a0It is a laborious process indeed.<\/p><p>Here\u2019s a stronger incentive to stay in the grind. The outlook for investing in rental properties looks great. Between November 2020 and\u00a0November 2021 rental prices have increased by 12% to 15%\u00a0<sup>[<\/sup><sup>1<\/sup><sup>]<\/sup>\u00a0&#8211; the outlook looks positive for future landlords. This is despite the pandemic\u2019s looming shadow on the housing market. The question then arises, is the outlook just as positive for <strong>New York<\/strong><strong>\u00a0specifically<\/strong>?<\/p><p>Here\u2019s how you can understand what you stand to gain or lose when <strong>purchasing rental properties in <\/strong><strong>New York<\/strong>. <a href=\"https:\/\/www.litpoodle.com\"><u>LitPoodle\u2019s<\/u><\/a>\u00a0aim has always been to inform our readers on the pros and cons of each part of the investment process. So you step in with the right expectations and benefit from your investment. So we have compiled an exhaustive list of everything you should consider before finalizing\u00a0on <strong>rental properties in <\/strong><strong>New York<\/strong>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-20ed303c elementor-invisible\" data-id=\"20ed303c\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;background_background&quot;:&quot;classic&quot;,&quot;animation_delay&quot;:100}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2ff9f194 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"2ff9f194\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;pulse&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.4 - 23-01-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img src=\"https:\/\/www.litpoodle.com\/blog\/wp-content\/uploads\/elementor\/thumbs\/Rental-Properties-in-New-York-pkzmb16v0huvykfsl73krzjim4saj79sl5zo3f2sg8.jpg\" title=\"Rental Properties in New York\" alt=\"Rental Properties in New York\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6deae003 elementor-section-content-top elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"6deae003\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44abcceb\" data-id=\"44abcceb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1595b2b elementor-widget elementor-widget-text-editor\" data-id=\"1595b2b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The median home price in<strong>\u00a0<\/strong>New York<strong>\u00a0<\/strong><strong>i<\/strong>s $ 736240\u00a0<sup>[<\/sup><sup>2<\/sup><sup>]<\/sup>\u00a0and the median rent for 2 bedroom household\u00a0is $ 5748\u00a0per month\u00a0<sup>[3]<\/sup>.\u00a0These then tell you that your estimated rental yield is 9.37 % <sup>[4]<\/sup>. Also, the vacancy rate in New York\u00a0is 5.5 % <sup>[5]<\/sup>\u00a0&#8211; this is an integral metric that sheds light on the demand and supply balance of rental properties in the neighborhood. With these metrics you understand your approximate return on investment\u00a0and whether it aligns with your expectations. Go back to your investment goal with these metrics &#8211; draw a comparison and understand if you are looking at a negative or positive net cash flow. Also if these terms are confusing then give our <a href=\"https:\/\/www.litpoodle.com\/blog\/real-estate-investment-terminology\/\"><u>blog on investment terms<\/u><\/a>\u00a0a quick read.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6906e750 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"6906e750\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60f2352c\" data-id=\"60f2352c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-54a15f98 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54a15f98\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1dae00c\" data-id=\"1dae00c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-150d79ee elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"150d79ee\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.4 - 23-01-2022 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#2c2c2c;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:-webkit-box;display:-ms-flexbox;display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);-ms-flex-negative:0;flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:-webkit-box;display:-ms-flexbox;display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{-webkit-box-align:center;-ms-flex-align:center;align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--element-align-left .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{-webkit-box-flex:0;-ms-flex-positive:0;flex-grow:0;-ms-flex-negative:100;flex-shrink:100}.elementor-widget-divider--element-align-left .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-left .elementor-divider__element{margin-left:0}.elementor-widget-divider--element-align-right .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{-webkit-box-flex:0;-ms-flex-positive:0;flex-grow:0;-ms-flex-negative:100;flex-shrink:100}.elementor-widget-divider--element-align-right .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-right .elementor-divider__element{margin-right:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ec16cdf elementor-widget elementor-widget-text-editor\" data-id=\"6ec16cdf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Rental properties in <\/strong><strong>New York<\/strong> are not just about finding the ideal place with the best facilities. It\u2019s about understanding the region and the neighborhood and the economy that underpins it. The local economy impacts the housing demand in that region and ultimately the appreciation value of your property. For instance, in an economically and socially vibrant region, you can expect a higher influx of residents. As the demand rises, so does the rent and the value of your property. Here are a few pointers to keep an eye on to understand what factors or metrics directly affect the appreciation of <a href=\"https:\/\/www.litpoodle.com\/blog\/rental-properties-in-new-york\/\"><strong>rental properties in <\/strong><strong>New York<\/strong><\/a><strong>.<\/strong><strong><br \/><\/strong><br \/>1) Local Employment growth rate <br \/>2) Local Population growth rate.<br \/>3) Local household income<br \/>4) Local Unemployment rate.<\/p><p>In the case of New York, the local employment growth rate is 6.5%\u00a0<sup>[6]<\/sup>, the local population growth rate is 6.8% <sup>[7]<\/sup>, the local median household income is $ 68304<sup>\u00a0<\/sup><sup>[8]<\/sup>\u00a0and local unemployment rate is 6.3%\u00a0<sup>[9]<\/sup>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c1ad10e\" data-id=\"c1ad10e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fc9663a elementor-widget elementor-widget-spacer\" data-id=\"fc9663a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b4da1c3 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"b4da1c3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c1040db\" data-id=\"c1040db\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3f111f73 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f111f73\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-30034b15\" data-id=\"30034b15\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5dd84ef6 elementor-widget elementor-widget-spacer\" data-id=\"5dd84ef6\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-12663f38\" data-id=\"12663f38\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7310b801 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7310b801\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26a8a971 elementor-widget elementor-widget-text-editor\" data-id=\"26a8a971\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h4><strong>Rental Property In New York, you consider the following neighborhoods\/cities for investment:<\/strong><\/h4><ul><li>Premium (high median home price):\u00a0Manhattan<\/li><li>Mid-market\u00a0(medium home price):\u00a0Brooklyn, Yonkers<\/li><li>Affordable (low median home price): Hempstead, Bronx<\/li><\/ul><p>Take a look at historical metrics and future projections to understand whether the region is showing a consistent increase or decrease for these parameters. Also, be sure to compare these metrics with those of the states and the countries. This would provide a relative perspective to those metrics and you can see for yourself if the local region is performing better or worse than the state or the country. If you want all of this good data on one page, then look no further than <a href=\"https:\/\/www.litpoodle.com\/\"><u>Litpoodle.com<\/u><\/a>. LitPoodle offers these on our <a href=\"https:\/\/www.litpoodle.com\/login\/sign_in\"><u>intuitive platform<\/u><\/a>. Use this platform\u00a0to get a quick estimation\u00a0of your rental income (post taxes) and your rental yield.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-55bf47d elementor-section-content-top elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"55bf47d\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-edb806f\" data-id=\"edb806f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bc86480 elementor-widget elementor-widget-text-editor\" data-id=\"bc86480\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>LitPoodle\u00a0also\u00a0offers curated recommendations that show the best among the listed properties for a particular region. If you are agnostic about which region you want to invest in, then based on the parameters you key in for <strong>rental properties in <\/strong><strong>New York<\/strong>, our platform will offer suggestions on similar properties in other investment worthy regions.<\/p><p>To start, check out the footer section below and click on the appropriate links to see a sample of properties. Using\u00a0our platform, narrowing down on an investment worthy\u00a0property becomes\u00a0a less time consuming exercise.<\/p><p>Need a guide on what to look for and what to do before finalizing\u00a0your first investment? Head to our next section.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7d556bf5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d556bf5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7e3184eb\" data-id=\"7e3184eb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad9badf elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"ad9badf\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Some things to Consider Before Finalizing A Real Estate Investment<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5a15556a elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"5a15556a\" data-element_type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-76721b72 elementor-invisible\" data-id=\"76721b72\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c766ef1 elementor-widget elementor-widget-heading\" data-id=\"3c766ef1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Estimate your Returns<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45428383 elementor-widget elementor-widget-text-editor\" data-id=\"45428383\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>We are reiterating this from our previous points because it\u2019s one that shouldn\u2019t be missed. This is also one of those investing steps that most first-time investors avoid like the plague. There is a sense of fear when it comes to dealing with investing figures. This dread is unfounded. Understanding the rental yields and the cash flow scenario can help you make a sound\u00a0investing decision. For a simple understanding, just glance at our Poodle-O-Meter to understand whether a property is investment worthy or not.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2920a90a elementor-invisible\" data-id=\"2920a90a\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5222091b elementor-widget elementor-widget-heading\" data-id=\"5222091b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Look At Insurance<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64428f6e elementor-widget elementor-widget-text-editor\" data-id=\"64428f6e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Now investing in a home, like any other tangible asset, makes it susceptible to damage. Natural calamities, fires, break-ins are rare occurrences but also likely. So it\u2019s important to know what insurance coverage you can avail on your property. \u00a0If the area is susceptible to natural disasters, like for earthquakes for instance then it might not be prudent to initiate or increase coverage for that particular disaster. Also make sure you get landlord insurance from your insurance provider as opposed to homeowner insurance. These are integral decisions you need to make before <strong>Investing in real estate.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-24a1765b elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"24a1765b\" data-element_type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-460e7cbd elementor-invisible\" data-id=\"460e7cbd\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1080ea87 elementor-widget elementor-widget-heading\" data-id=\"1080ea87\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Understand Property Taxes & plan for it<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b19c43b elementor-widget elementor-widget-text-editor\" data-id=\"3b19c43b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Property taxes vary widely from state to state and from county to county and from neighborhood to neighborhood. So even within the same city, there might be differences in property taxes between one neighborhood and another. Certain neighborhoods might fall under special assessment zones and as a result taxes might be higher. So it is critical to understand what the property tax rates and special assessments are. Make sure you ask the seller or the seller\u2019s agent for complete details. You can also cross verify this information at the county tax office.<\/p><p>Taxes can seem like a hassle but put away something every month towards tax payments so that it doesn\u2019t feel like a big burden during fiscal year end. If you lack the discipline to consistently sock away something, then considering using an escrow account that automatically deducts every month.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1cc4dd91 elementor-invisible\" data-id=\"1cc4dd91\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b1236a elementor-widget elementor-widget-heading\" data-id=\"b1236a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Have the Property Inspected<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42c41734 elementor-widget elementor-widget-text-editor\" data-id=\"42c41734\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Sometimes you may stumble upon a property and think \u201cHey, a few repairs and this place will shine\u201d. We love your optimism but ask yourself &#8211; at what cost?\u00a0Or even worse, some investors skip the property inspection step altogether trying to skimp the inspection charges. That is a recipe for disaster. You don\u2019t want to find that the foundation of the property isn\u2019t strong enough after you purchase it. So hire a professional property inspector to assess the place for you. A professional inspector will inspect the house for structural integrity and associated aspects. The other aspect to consider is pests. Often infestations lurk beneath the surfaces. To avoid additional costs of cleaning termites or wood-leaching insects, it&#8217;s best to have the property inspected before purchase.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-77115596 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"77115596\" data-element_type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5a628721 elementor-invisible\" data-id=\"5a628721\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-390882ed elementor-widget elementor-widget-heading\" data-id=\"390882ed\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Property Management<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c44aa40 elementor-widget elementor-widget-text-editor\" data-id=\"1c44aa40\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This step usually comes after you close the deal and gain access to the property. If you thought house hunting and finalizing the deal was time-consuming, then you are mistaken and you probably haven\u2019t yet been introduced to the property management step. You will have to market the property, find tenants, whet them and take care of their needs once they are in your property. You can choose to do it on your own. But it\u2019s best to have access to a property management company you can trust. Such companies help you manage tenants, rent collections\u00a0and address repair issues and maintenance. Property Management services act as first\u00a0responders to your tenant. They are the first point of contact if anything minor goes wrong &#8211; eg; plumbing issues, electrical issues, AC, heat\u00a0and so on. When these little aspects are taken care of it helps you save time and focus on future investments.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6000f03 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6000f03\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f9dfa31\" data-id=\"f9dfa31\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8757a2e elementor-widget elementor-widget-text-editor\" data-id=\"8757a2e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>LitPoodle offers access to comprehensive property management services. along with free access to our intuitive and easy to use property management dashboard. So Litpoodle is a one stop shop solution that helps first time investors make the best investment decisions and help manage it stress-free. Head to LitPoodle, <a href=\"https:\/\/www.litpoodle.com\/login\/sign_in\"><span style=\"text-decoration: underline;\">Sign up for free<\/span><\/a>\u00a0and benefit from these services.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-df7a621 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"df7a621\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bbfb087\" data-id=\"bbfb087\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d41bc3f elementor-align-center elementor-widget elementor-widget-button\" data-id=\"d41bc3f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/www.litpoodle.com\/\" class=\"elementor-button-link elementor-button elementor-size-xl\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">GET STARTED<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3d52fe6a elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"3d52fe6a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8119433\" data-id=\"8119433\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4a23e782 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a23e782\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-50886b5a\" data-id=\"50886b5a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e07be0e elementor-widget elementor-widget-heading\" data-id=\"6e07be0e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Sources:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26f38740 elementor-widget elementor-widget-text-editor\" data-id=\"26f38740\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ol><li>https:\/\/managecasa.com\/articles\/us-rental-property-market\/<\/li><li>Median Home Price as of November 2021: <a href=\"https:\/\/www.zillow.com\/\" class=\"broken_link\" target=\"_blank\" rel=\"noopener\"><u>https:\/\/www.zillow.com\/<\/u><\/a><\/li><li>Median Rent as of September 2021: <a href=\"https:\/\/www.apartmentlist.com\/\" target=\"_blank\" rel=\"noopener\"><u>https:\/\/www.apartmentlist.com\/<\/u><\/a><\/li><li>Median Rental Yield = (Annual Median Rent \/ Median Home Price)*100 (Unit = %)<\/li><li>Vacancy Rate as of September 2021: US Census Bureau<\/li><li>Employment Growth Rate (June 2021 vs June 2020): US Bureau of Labor Statistics<\/li><li>Population Growth Rate (2010-2020): US Census Bureau<\/li><li>Household Income (Annual): fred.stlouisfed.org<\/li><li>Unemployment Rate as of October 2021: US Bureau of Labor Statistics<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"_links":{"self":[{"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/pages\/3126"}],"collection":[{"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/comments?post=3126"}],"version-history":[{"count":44,"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/pages\/3126\/revisions"}],"predecessor-version":[{"id":8405,"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/pages\/3126\/revisions\/8405"}],"wp:attachment":[{"href":"https:\/\/www.litpoodle.com\/blog\/wp-json\/wp\/v2\/media?parent=3126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}