Feb 22, 2018
There are a multitude of factors that determine real estate value.
New York, NY - February 22, 2018 /MarketersMedia/ —
It is no surprise that New York City is one of the most booming regions in the country for real estate market growth, with a surprisingly large number of properties being developed currently, as well as spaces being transformed and re-imagined. Of course, like any new venture, it pays – literally – to learn as much about the art and strategy of buying real estate as possible, and beginning investors should be weary of the field before diving right in. Renowned New York-based property expert and investment consultant Jacob Frydman has spent more than thirty years honing his successful business and has discussed a few tips that will help new investors who are entering the market.
There are a multitude of factors that determine real estate value, and the investors who consistently see returns are the ones who take time to educate themselves about all aspects, says Jacob Frydman. They know the location and the history of the place, because understanding what drove the early development or the area is a key way to find potential neighborhoods that may have been forgotten and potentially undervalued here in the present.
Evaluating the overall local economy and assessing current growth trends is a vital component to successful property investing. Is the population growing, and in which parts of town? What new developments are planned that will likely spur additional growth and boost land values? What are the transportation issues in the area? Is there substantial infrastructure for the future population or will the local government need to expand roads or add rail lines – which usually means increasing real estate taxes and tends to make neighborhoods outside those municipal boundaries more attractive to residents and businesses.
The most important piece of advice which ultimately guides everything else, says Jacob Frydman, is “to always treat your business like a business, and not a hobby. Real estate investing is a matter of cash flow, balances and long-term planning, it is not an emotional transaction, the way buying your primary residence may have been.” It is essential to write a business plan that covers one, three, five and ten years. Create systems, process and rules that guide you like clockwork, objectively rather than subjectively.
Jacob Frydman is a New York-based real estate consultant who sources and identifies value-added investment opportunities. For more than 30 years, he has successfully executed highly complex real estate transactions valued at over $2 billion and spanning over 5 million square feet. In addition to lecturing on real estate finance at Columbia University and New York Law School, Frydman is a frequent guest on CNBC, Bloomberg TV, Fox News and other major TV news outlets. An avid philanthropist, Jacob Frydman devotes much of his time and capital to various charitable organizations, including the National Committee for Furtherance of Jewish Education (NCFJE), Chabad of Dutchess County, and the Brem Foundation of Washington, DC.
Jacob Frydman - Blog - JacobFrydmanNews.com: http://JacobFrydmanNews.com
Jacob Frydman (@jacobfrydman) - Twitter: https://twitter.com/jacobfrydman
Jacob Frydman -- Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman
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Video URL: https://www.youtube.com/watch?v=NHS77IcaFwc
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