What should foreign investors look for in a Manhattan apartment? Tip 3

Tip 3 in a word has to do with convenience. ¬†Assuming that you live overseas, you probably do not want to have phone calls and emails asking you to deal with a leaky sink or a flood due to a tenant above you. You will need management or maybe not…If you purchase in a building with a concierge, live-in-super and handyman you can probably get away with not having to pay a separate fee for management. Let your tenant know if there is an issue, that they should go to the front desk and put in a work order and email you so that you are informed. That’s it. In some cases, if you bought the property through a broker, and the same broker rents it for you whenever it becomes vacant, they may manage it for you for little or no fee. ¬†With direct deposit and your local broker dealing with vacancies, you can have a turnkey investment.