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1BR Condos as Investment Vehicles in Manhattan

Started by nyc_ace
almost 17 years ago
Posts: 23
Member since: Jul 2009
Discussion about
I've noticed that one still cannot put a reasonable down payment on a condo and rent out the unit for either break even or profit given the mortgage, RE tax and maintenance. Perhaps a naive question: how do people use RE as an investment to get a positive cash flow immediately in Manhattan? One explanation given to me is that the buyer pays all cash. This makes sense because the return on the rental would then be better than the interest rates at the bank. Thoughts?
Response by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008

They can't make money b/c property is still vastly overpriced.

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