International investor - how to manage condo?

I'm surprised that there have been no replies to this. I don't live in NYC, but I believe that most real estate companies have a department that does property management. If you ask the agent you purchase from he/she will definitely have some ideas for you.

Thats brilliant advice jjh3d, ask the selling agent, how long or how much experience did it take to think that up. The guy obviously wants something a little more substantive (who trusts agents anyway). Amazing how the blind volunteer to lead the blind here with useless advice in order to feel "in the know"

to Manhattanite_buyer:

Have you actually found a manhattan apartment where the rent will cover the mortgage? If you're just "praying" for appreciation (currency and unit) then you are a "speculator" not an investor.

Anyway, there are many management companies in the city, I would recommend asking renters which management company their unit works with or even see if the management company is listing at the door of apartment buildings. Your problem will be finding a "good" one and not rip you off (e.g bogus repairs) because they know you are out of the country

bugelrex:

To answer your question "...Have you actually found a manhattan apartment where the rent will cover the mortgage?...,' the answer is most assuredly, yes, it can easily be done.

As an example, bought a 2 bed/2.5 bath in 15 CPW, and have already rented it out at a monthly rate that fully covers mortgage (30 year fixed/20% down) and maintenance, plus leaves a few extra thousand in my pocket every month. That's not mentioning the fact that I could sell the unit today, right now, even with the 500 point dip on the dow this morning, for 50%+ more than I initially paid for the place. Same goes for the place in the Village I bought in 2007 as well. And if the market keeps getting hit and people start turning towards rentals with even more ferocity, that'll just make my day. And year, for that matter.

As for management, there are multiple companies such as Taube, etc., that offer this sort of service - and if they don't because you're too small they can refer you to smaller companies who do this kind of work.

Take it easy, wager. The poor guy had not one reply for a whole day so I directed him to his agent. He asked "Are there companies that do this?", so rather than leaving him hanging I tried to steer him. I wasn't trying to feel "in the know", as is evident by my reply. Are you only here to be ugly with people for no reason?