Secrets to Buy, Rent, and Save in NYC: Taxes, Legal and Migraines

By ·Certified Public Accountant and Founder

Real Estate is one of those topics that people always talk about and hate because it just seems like you can never win - especially in New York City. But, its a matter of understanding the market and the laws that create barriers to your success. This is a class that will help walk a beginner through the process of renting, buying and saving.

Anyone that purchases the course can bring a friend free of charge (Buy One, Get One). All proceeds are donated to the Keng Institute Tax Clinic. It is a nonprofit organization that helps the poor, elderly and non-english speaking immigrants. Checkout the http://www.kenginstitute.org!

Renting
Everyone starts by renting because its the realistic and affordable choice, but why does every apartment always cost more than half our paychecks? I've paid $365 dollars for my apartment in the Upper East Side (UES) including 2 bathrooms, bbq balcony, dining room, living room, kitchen free utilities, water, heat, cable (w/ HBO, Cinemax, Showtime), TiVo, landline/fax, and internet (w/ speeds of 45megabytes per second download and 25 megabytes per second upload). I have the receipts to prove it. Renting is an art because you need to understand a variety of legal and market considerations.

Buying
When you've decided to buy, you need to understand whether or not it is the smart choice. Most people buy a property without ever realizing (1) that they'll never be able to afford their home, (2) that they've actually been cheated and the bank guaranteed that they'll lose money or (3) that their home wasn't the right property until it was too late.

You need to understand how to calculate the real cost of your home through the eyes of your bank or lending institution. How to judge of this home is just right for the next 30 years (the life of your loan) or just right-now in the immediate future.

Other Major Topics Include: Taxes
The major reason why people buy property is because they think that it's going to make them money through tax cuts. Understand why this may be a myth or an over-exaggeration.

Law
Understand how real estate law really works. What happens when you purchase property and what the rights you really get. What happens when you rent your property and you have to go to court.

Migraines
Understanding the costs and the annoying day-to-day fixes you never imagined. For example: How water and insects are the worst enemies that you never see coming.
Schedule
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Cameron Keng

Certified Public Accountant and Founder
Certified Public Accountant, Enrolled Agent, Notary Public, Real Estate Agent, Prior clients were Prudential, Vornado and Tishman Speyer.
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