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Buying from my landlord?

Started by hunterUES
almost 16 years ago
Posts: 1
Member since: Sep 2010
Discussion about
Have been thinking about buying for 9 years however have not been able to find a similar building to buy. We have pretty much decided to continue to stay in our current building as a renter since the unique combination of the location and amenities. We are not US citizens and financially comfortable, as a renter. Recently we received some amount of monetary gift and really want to put it in real estate but we do not want throw money in any properties in Manhattan but only the building we currently live in UES. Questions are: is it possible? Should we approach the landlord (it is a big rental company)? Thanks.
Response by drdrd
almost 16 years ago
Posts: 1905
Member since: Apr 2007

Are you saying that you want to buy your apartment in a rental building? If so, & assuming that were even possible, DON'T DO IT. Look in the immediate vicinity for a co-op or condo but even if it were possible to buy, it's a ridiculous idea. It's like David going in to business with Goliath; who has all the power, do you think? On the bright side, you know exactly what 'hood to focus on. Good luck & don't let that money burn a hole in your pocket.

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