How to Build a New York City Real Estate Landlord for $1.3M
A New York real estate developer has spent $1 million to build a new New York city landlord who’ll rent out your entire apartment for the next four years.
Mark Schreiber has developed and sold rental apartments in cities around the world for the past six years.
His website is TheRealLease.com, and it features the “premium” listings that will cost you a whopping $1,500 a month — even if you buy the units yourself.
The company’s website promises you a monthly fee of $1 a month, with “all fees paid upfront.”
There’s no upfront payment, though, and the site promises to pay you for the time you spend “sitting in your apartment, and keeping the place nice and tidy.”
Schreber said he plans to start paying you the fee in December.
Schreiber said he first bought the apartments in 2013, and has since had three or four other landlords purchase them.
The lease will run from January 1 to December 31, and Schreib said he expects to rent out at least a half-dozen apartments in the city for at least four years, according to the website.
You’ll be able to choose to pay a deposit, but that will be the minimum amount of money he plans on keeping the apartments for.
“The average rent for a new apartment in Manhattan is $1 per square foot,” he said.
“I’m going to be charging $1 in the first year.
I’m not going to charge $5 for an apartment that’s going to last four years.”
Schreib’s first New York apartment went up for sale for $6.9 million in August, and he has been leasing apartments for about six months.
He said he hopes to have 20 properties ready to rent by the end of the year, though he said he’s working on a number of smaller projects.
You can find out more about Mark Schreibur’s company on his website and in the press release announcing the lease.
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