Why Real Estate Investing In Staten Island is a Safe Bet

Real estate investing can seem daunting. It may seem unattainable but let's look at the reasons why its a safe investment, especially in Staten Island and why you should consider it.

NYC and the five boroughs will have a consistent demand for real estate despite market changes. There are many city workers who must live in NY for their jobs and cannot move to other states. For non-city workers, the commute to work makes living in Staten Island or the other boroughs, ideal. With that being said, let's see why being a real estate investor in Staten Island can be an advantage.

1. Tax Benefits

Like a business owner, investors can take advantage of the many tax benefits of real estate. Being a landlord is being a business owner and the government views it accordingly. Examples of potential tax write offs are:

• Depreciation

• Maintenance expenses

• Mortgage interest paid on your loan

• Real estate taxes

Always seek counsel from a tax professional regarding what you can write off.

2. Cash flow

As a landlord, any money made from the rental income can be considered profit. Be sure to check the your numbers before making an investment. For example, if the mortage, taxes and insurance is $2000 each month and the rental income is $3000/month, you have a cash flow of $1000 every month. That's a smart investment!

3. It only takes one home to grow your real estate portfolio

Real estate can be leveraged to buy more real estate. For example, lets say you have $50,000 in equity in your current property. You can refinance or take out a HELOC for that amount and use it as the down payment for the next property you would like to acquire.

4. Long Term Security

Real estate appreciates over time. As the value rises, so does your equity. In turn, you can later on sell it for profit or cash out on some equity to buy another property.

5. Protection Against Inflation

As the prices of goods and services rise, so does rental rates. As a landlord, you have the right to increase your tenants rent. By raising rents to market value, you will increase your rental income which will help as the price of goods go up around us.

There are many ways to invest in real estate (not just as a landlord). Look out for my next blog post as we deep dive into the different real estate investment avenues!