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POLL: Which is the better investment?
Posted by MEight on 21-Feb-12, 11:27 PM PST
Result after a total of 10 votes

Part ownership of an apartment building in Manhattan 7 votes, 70% Vote for this choice
Part ownership of a 4 star hotel in the Bahamas 3 votes, 30% Vote for this choice
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Which is the better investment? [View All], MEight, 11:27 PM, 21-Feb-12, (0)  
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onlylooking onlylooking rating
Member since 25-Nov-02
2290 posts, 18 feedbacks, 35 points
22-Feb-12, 12:22 PM (PST)
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1. "RE: Which is the better investment?"
In response to message #0
 
   This is a stupid question. If I got one for free and another for 10 million and both generated the same rentals its obvious. Without some basic numbers how the fuck should we know?!

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MEight MEight rating
Member since 20-Oct-07
1798 posts, 22 feedbacks, 43 points
22-Feb-12, 02:46 PM (PST)
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2. "RE: Which is the better investment?"
In response to message #1
 
"There are no stupid questoins, only stupid people" -

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onlylooking onlylooking rating
Member since 25-Nov-02
2290 posts, 18 feedbacks, 35 points
12-Mar-12, 03:26 AM (PST)
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5. "RE: Which is the better investment?"
In response to message #2
 
   No, there are stupid questions. Like asking a Catholic priest for relationship advice!

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moneywhiz
Member since 5-Dec-11
67 posts
06-Mar-12, 05:47 PM (PST)
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3. "RE: Which is the better investment?"
In response to message #0
 
   Both sound good, if you have the dough!

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arbiez_temp arbiez_temp rating
Charter Member
3504 posts, 60 feedbacks, 114 points
09-Mar-12, 09:43 PM (PST)
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4. "RE: Which is the better investment?"
In response to message #0
 
   LAST EDITED ON 09-Mar-12 AT 10:03 PM (PST)
 
Too vague (so no soup for you and no vote from me) . . .
- What's the return on rental revenue against upkeep?
- Is this a new property? If not, have you reviewed the balance sheet?
- What neighborhood?
- What is target profile?
- How many apartments are leased at current market rents? (Isn't NYC still under rent control?)
- Tenure of Tenancy? IOWs, how many of the apts are under lease to the actual resident instead of a sublet?
- Any lawsuits pending?

If it were me, I'd probably go with the apartment as the vacancy rate should be much lower and more importantly the revenue fluctuates less. Additionally, hotels are seasonal with roller-coaster like occupancy, vacant in down economies and more importantly the Bahamas is subject to hurricanes.

OTOH, you get to write off any travel to Nassau which can't be all bad.

http://www.youtube.com/watch?v=qg-EBgTfK0E

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iamnowhere iamnowhere rating
Member since 13-Jun-08
115 posts, 1 feedbacks, 2 points
13-Mar-12, 11:40 AM (PST)
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6. "RE: Which is the better investment?"
In response to message #4
 
>- What's the return on rental revenue against upkeep?
>- Is this a new property? If not, have you reviewed the
>balance sheet?

An old(er) building in any neighborhood in Manhattan could mean a lot of money for upkeep/maintenance or bringing the building up to code. Definitely check the balance sheet and see how much of the rents are going to expenses.

>- What neighborhood?
>- What is target profile?
>- How many apartments are leased at current market rents?
>(Isn't NYC still under rent control?)
>- Tenure of Tenancy? IOWs, how many of the apts are under
>lease to the actual resident instead of a sublet?

I'm currently living in Midtown Manhattan and when I moved out here a couple of months ago, I didn't have a hard time finding an apartment. Rents are high($2100 for a large studio) compared to Bay Area, but New York has the best of everything. I've walked almost the entire island already and have seen very few undesirable neighborhoods(parts of Harlem, Alphabet City, parts of Chinatown, anywhere under/near a bridge). Most part of Manhattan are getting gentrified and there is a lot of construction and renovation taking place. I haven't encountered anyone who lives under Rent Control, so I can't comment much on that except that I'm sure it exists in more poor neighborhoods like Harlem or in the other four Boroughs.

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arbiez_temp arbiez_temp rating
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3504 posts, 60 feedbacks, 114 points
13-Mar-12, 10:39 PM (PST)
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7. "RE: Which is the better investment?"
In response to message #6
 
   LAST EDITED ON 13-Mar-12 AT 10:41 PM (PST)
 
Actually rent control is in effect throughout the city. Only about 1/3 of NYC apartments are not subject to rent control. You certainly pay market rate if you signed a new lease however many folks sublet because the rent is cheaper due to rent control. Because of this, you may find many people in your building pay less than half of what you pay for a similar unit. While you pay $2100, you may find someone in the same building only pays $1200 for same or larger unit if they've been there long term or maybe they pay $800 if they sublet from a long-term lessee.

This is especially true if you're in an older building and why it is important to know tenure of tenants.

http://en.wikipedia.org/wiki/Rent_control_in_New_York

As for the related costs of living the boroughs or uptown, rent control isn't limited to poorer areas. Often, because there is more transient movement in the poorer neighborhoods, rentals would probably run at a closer percentage to market rates compared to the more affluent areas where people tend to stay longer (and therefore effectly lower their rents).

In short, rent control doesn't work like Section 8 or other low income measures and those who benefit are often quite the opposite.

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eros2354 eros2354 rating
Member since 22-Mar-05
3808 posts, 14 feedbacks, 27 points
14-Mar-12, 03:51 PM (PST)
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8. "RE: Which is the better investment?"
In response to message #0
 
Too general !!! Need more details like annual return, conditions physically & on paper, local government provisions, actual location, etc.

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