1. Live Affordably in New York (Sort Of)

Unfortunately, New York is not the most affordable city, especially when it comes to housing. Look for good deals, but also make sure that you investigate the neighborhood before committing as there are significant differences between the boroughs. In New York proper, expect your studio apartment to start at around $3,500, with a few exceptions. Some of the outlying areas, like Brooklyn and Long Island, have lower prices, if you don’t mind a commute. 

Houses in New York range quite a bit, too, depending on where exactly you want to live. For example, Manhattan ended 2021 with a median of $1,165,000 whereas Staten Island was $625,000.

2. Tap Into a Thriving Community

New York City’s business community is renowned worldwide for being both welcoming and dynamic. With a strong commitment to innovation, creativity and collaboration, the Big Apple has cultivated a world-leading reputation for connecting businesses of all sizes to industry experts and entrepreneurial professionals alike. Alongside the steadily growing start-up scene, hundreds of established business headquarters have become firmly entrenched in the city’s landscape. Companies such as Microsoft, Dow Jones and Google are all visible fixtures in the corporate New York terrain.

The city offers an idyllic blend of supportive networks along with cutting edge advances; opportunities are abounding with tremendous potential for growth at both the individual and corporate level. Tap into some of the city’s limitless ways to connect, experiment, activate new ideas, and thrive as a business owner by checking out:

• New York State Empire State Development
• NYC Small Business Resource Network
• The Minority- and Women-Owned Business Enterprise Program

 

3. Enjoy Food, Culture, and Activities

New York is universally renowned for its vibrant and incomparable food, events, and cultural communities. Everything from Michelin-starred restaurants to Chinese delivery places all have their place in the city’s diverse, ever-shifting cuisine scene.

NYC also hosts numerous world-famous events throughout the year; from the Macy’s Thanksgiving Day Parade to December art walks and Harlem Week, there’s an event here for everyone’s tastes. The spirit of community here is electric. Ethnic enclaves share their cultural traditions along with cuisine staples brought over from countries around the globe. From Lebanese falafel to Salvadoran pupusas, New York’s culinary landscape remains as varied as ever.

4. Leverage an Educated Workforce

Did you know that 40.1% of New York City residents have at least a Bachelor’s degree? Indeed, this city is highly educated, which is a great resource for business owners who want to recruit talented staff members. Some of the top colleges in and around New York include:

• Columbia University
• Barnard College
• New York University
• Rutgers University – New Brunswick

5. Get Your NYC Business Started

When you’re ready to start your business in NYC, there are a few resources that will be beneficial. Partnering with a business formation service, for example, can give you the tools to start an LLC — and this can minimize taxes and paperwork. Be sure to review the regulations in New York before you do this. Other resources include the Greater New York Chamber of Commerce and the New York Secretary of State.

6. Take In the Entertainment

When you’re not busy running your business and tending to your family, New York City has a rich array of entertainment options to indulge in. You can visit Broadway or even off Broadway for some hit plays and musicals, or take in the art at the Museum of Modern Art. Really, there are too many amazing things to do to list in New York City. You’ll have to discover some on your own!

7. Avoid the Traffic – Take Public Transportation

New York City is infamous for traffic, which is why it offers many unique transportation options for locals and tourists. The subway is an iconic symbol of the city, providing fast access to all five boroughs of the city. Iconic yellow taxi cabs are also available in Manhattan.

Further from the city center, travelers can take the Staten Island Ferry to the lesser explored parts of NYC located on Staten Island. For those looking to explore beyond the boundaries of New York City itself, buses such as Greyhound offer convenient daily routes across America’s east coast. In any case, visitors to New York City are sure to find a direct link to wherever they want to go!

Discover Everything New York Has to Offer

Whether you enjoy cultural events, delicious cuisine, or exciting nightlife, there’s no shortage of things to do in NYC. Not to mention that as one of the most vibrant and diverse cities in the world it’s near impossible to be bored in the bustling city! It’s undoubtedly one of the greatest cities globally when it comes to opportunities for small business owners. So if you’ve been considering moving to New York City, don’t hesitate one minute longer – come on down and see what all the fuss is about!

Brett Engle, the author of this piece, created Diy Guys and co-authored with Ray Flynn on their upcoming book How to DIY Damn Near Everything to give others the courage and confidence to pursue DIY projects in their homes. 

Brett Engle is an architect and co-creator along with Ray Flynn of DIY Guys

Brian Silvestry has been in real estate since 1999, meaning he has the knowledge, experience, and connections to get the job done.

Maybe you got a promotion at work and you’re moving to your company’s headquarters in a different state. Or maybe you’re making a career move, and you want to start a business in a city far away from home. Whatever the case, here are some things to think about to make the relocation process easy and stress-free for you and your family.

Eight Weeks Before Moving Day

By this time, you should have secured a place to live, whether buying a house or renting an apartment. If you have children, JayMoves.com notes that you want to live in an area with the best schools possible; a real estate agent can help you find the best ones close to your new home. If you are renting your new place, make sure your landlord allows pets if you have any, and if you have a dog, look for places with nearby parks where you can take your furry friend for a stroll.

Now is also the time to contact moving companies and get some estimates. Find movers in your area that specialize in moving furniture, and read reviews from past clients that can further help you in your decision. Take time to sort through your belongings and get rid of the things you will no longer need or use in your new home: organize a garage sale, list items for sale online, or donate to a local charity. The less to pack, the better.

If you know there will be a lag between when you need to move out and when you’ll be moving into a new abode, plan to rent an apartment for the interim. You’ll be able to store much of your belongings and extra furniture in a storage unit if needed. Check to see which complexes offer leases for under a year or even month-to-month. You can search online listings to find a suitable home. Many listings offer virtual tours, so you won’t have to view as many spaces in person.

When touring prospective homes, take copious notes and photographs. A home may make a strong impression in person, but it’s important to have objective material to help you compare options after the fact – especially if you’re considering buying a home as-is. An experienced and skilled real estate agent like Brian Silvestry can be a helpful resource for your questions, including about the area and neighborhood in which you are searching.

If you’re moving your business to a new state, there are a lot of administrative tasks that need to be taken care of. One of the most important is forming an LLC in the new state. This will help to protect your assets in case your business is sued. To form a New York LLC, you’ll need to file articles of organization with the Secretary of State’s office. You’ll also need to create an operating agreement, which outlines how the LLC will be run.

Six Weeks Before Moving Day

Start packing! Label boxes according to the room they belong to: it will make the unloading of the moving trucks easier as movers will know where each box should go. Since you still have some time before your move, make sure you tie up all the loose ends: take care of minor repairs in the house you’re leaving, service your car to make sure you can make that cross-state drive, gather all your important documents (birth certificates, school records, passports, etc.) and do some research on the place you’re moving to (locate the best restaurants, the closest supermarket, and any professional services you may need right away).

Four Weeks Before Moving Day

It’s getting real! Cancel the subscriptions you will no longer need, return books or DVDs to the library, pick up your dry cleaning, and refill your prescriptions. Cancel your internet service and have it installed in your new place, especially if your spouse or children will be using it for work or school. As people rely more and more on the internet and their electronic devices, check if your new place has enough outlets for everyone, and contact a professional in the area if improvements need to be made (i.e., electrical updates, high-speed internet installed, etc.).

For pet owners, the USDA suggests making sure your pets are up-to-date on their vaccinations. And if you’re going to stay at hotels while you travel across the country, call ahead and make your reservations now, especially if you have any special requirements.

One Week Before Moving Day

Pack a small suitcase for everyone in your household with a few days’ worth of clothes, toiletries, medication, and anything they may need during the move: think of it as packing for a little vacation. Confirm dates and times with your moving company, and have your mail forwarded to your new address. Turn off the utility services in your old home, and turn them on in your new one. Make sure you have some cash on hand for snacks on the road and to tip your movers.

After your old place has been emptied and cleaned up, take pictures before you leave to show it is in move-out condition. It also may be wise to hire a lawn care service to make sure your soon-to-be-former yard remains well-kept while it’s on the market. You can check and compare reviews online to find the best suitor for your needs.

If you give yourself and your family plenty of time to move out, you can make the experience more relaxed. And if you take the time to research the people and companies you want to work with, you can save yourself a lot of stress, headaches, and sometimes a little bit of cash, too!

Bret Engle is the author of this post. His first DIY project came at age 10 when he and his best friend built a treehouse, complete with an (ill-advised) homemade zipline exit, in the woods behind Bret’s house.

When he’s not working as an architect, Brett Engle spends his time dreaming up new DIY projects that promote green living.

Brett Engle created Diy Guys and co-authored with Ray Flynn on their upcoming book How to DIY Damn Near Everything to give others the courage and confidence to pursue DIY projects in their homes. 

Brett Engle is an architect and co-creator along with Ray Flynn of DIY Guys

Let’s talk #NYC #renovations. How much do you think it would cost to renovate a #NYC #townhouse?

This is an excerpt from my interview with Seth Kessler who is a commercial real estate broker with SCG Retail.

Brian:       So I’d like to dive right in.  One of the things that I’ve been talking about here is the current residential real estate market and what we’ve been seeing.  I’ve had some guests here with me and just talking about that.  Love to hear like, you as a commercial real estate expert, what are you seeing in areas that you focus in on right now?

Seth:        Obviously over the past I guess it’s been almost 2 months or maybe even a little bit longer that we’ve all been in lock down, in quarantine.  From really the first week we just heard most retailers say that they’re just putting all expansion plans on hold until this pandemic, quarantine life, gets back to normal.  Not much has changed in that front.  A lot of conversations have shifted from we’re putting things on hold to now they’re trying to figure out how they are going to reopen. How these tenants – restaurants, the hair salons, the spas things like that where there’s more physical contact- of how they’re going to reopen.  What their reopening strategies going to be.  They’ve even gone more so from putting things on hold to we need to figure out how we’re going to get back to life in the near future.  Whether that’s the next 6 months, a year or two years.  So, it really has transitioned but that has been the conversations.  That’s actually coming from the tenants’ standpoint.  The landlords have been talking all over the board.  I’ve heard some landlords saying ‘Look, the rent’s due. We need our rent for the past 2 months’ which I don’t agree with those landlords.  Then a lot of my clients have been saying ‘Look, we know where this is going. We need to work with our tenants. The rent is due but we need to figure out a way where they’re going to stay in business so they can continue to fill our spaces’.  It’s a partnership.  Most of my landlords, my clients that I do repeat business with, have been saying ‘We need to figure out how to keep our tenants in business’.  And some of them have unfortunately already given the keys back and said ‘Look, they can’t fulfill their responsibilities.  Some tenants that weren’t making money or weren’t making much money are taking this as the time to kind of trim the fat and say ‘Look, we’re dead in the water now and we aren’t going to bounce back from this’.  That’s been some of the more recent conversations that I’ve been having on a daily basis with tenants and landlords. 

Brian:       The landlords were, for the most part, they’re for putting rent off and allowing the tenants some time?  How does that work in terms of what will be the plans for, let’s say, a restaurant?  If they don’t pay the rent for a couple of months do, they have to – is it 2 months or is it 6 months?  How do they pay back those arrears?  How does that all wash out?   

Seth:      Each tenant, each landlord handles each deal differently but what I’ve been seeing and hearing that a lot of tenants are going to do, they’re deferring the rent for later in the lease.  Some of them are saying ‘Look, if it’s 3 months then every month for the length of the lease will be a little bit increased to make up those 3 months’.  Some landlords are saying ‘Were going to defer payment all the way until the end of the lease’.  So, if it’s 3 months deferred now, they will extend their lease by 3 months.  The only catch with that is it would be at then escalated rent so the landlord gets a little bit more at the end of the lease.  The landlord risk’s is if the tenant doesn’t make it for that new part of the lease but it’s a risk that some landlords are willing to take and some tenants are also willing to take that as well.  Something that I’ve heard and I haven’t seen it much around New York but in some of the other markets, landlords are saying ‘Look, we will extend if it’s 3 months deferred, right now we’ll extend your lease by 6 months or another year’ so there’s a little bit more upside for the landlord for not making the money now but they’re going to get a tenant for a little bit longer.  I’ve heard some landlords doing that in other states and other markets.  Mostly in New York, I’ve heard a lot of like one for one, months deferred now till the end of the lease.  It helps the tenants out a lot because they don’t have to worry about the payments now.  They will have to worry about them in the future but hopefully they’ll have cash flow and enough money that they’ll be able to afford to pay for those rents to stay in business.

Last week, I had an interview with James Striar who is a real estate attorney specializing in wills, estates and trusts. Here is part 1 of his interview.

Brian: Maybe you can just give us a little information as to what should be included in a will or what things that you normally see that are often missing in a will?

James: Sure. A lot of times people delay making a will for a variety of reasons but eventually, hopefully, they get around to it whatever stage in life that you’re at – whether you’re single, you’re getting married, having children. As far as the will itself, obviously you want to have a very clear idea of how you want your assets to go, who you want them to go to. Obviously, most of the time it’s spouse to spouse. Then if not then to the children or some combination of. Everybody’s situation is different in whatever stage in life they’re at. You wanna be as clear as possible. Think it out as well as possible whether you’re speaking to your attorney, your spouse. You’re going to have to name an executor – the person who
you’re putting in charge of handling the estate. Generally, that person is gonna be somebody that you trust. Most of the times it’s a spouse. If there is no spouse, a sibling. Somebody who is of similar age or possibly even a little younger depending on the age of the person making the will. Generally, you don’t necessarily want to have somebody much older than you be the executor for just age reasons- lifespan. You’re gonna want to name an alternate executor as well just in case the person that you appoint isn’t around or isn’t able to serve as the fiduciary. Some people wanna have co-executors. Maybe they have a brother and sister and they don’t want to choose or maybe choose one over the other. Maybe one sibling lives far away and the other lives close. There might be practical reasons to only chose one over both but often times, for sentimental reasons or not wanting to hurt somebody’s feelings, people would choose co-executors. There’s pros and cons to each of those. Once you’ve allocated who you want your assets to go to, how much to each party or person, some people obviously give to charities or foundations, you wanna have your executor. If there’s anything specific whether it’s a piece of property i.e. real estate, whether it’s a particular brokerage account or bank account, or jewelry, that’s gonna be laid out in the will specifically so there’s no confusion or there’s no arguing after the fact.

Brian Silvestry, is a licensed real estate broker since 1999. You can find him on social media on facebook, instagram,twitter and youtube.