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Best location & property to buy for investing

Started by realdeal777
almost 13 years ago
Posts: 72
Member since: Jan 2013
Discussion about
Where should a good investor buy in Greater New York area? And what kind of property to invest and rent out - i.e. studio/1br/2br/house/commercial etc. Going by the traditional real estate investing 101, if we consider we need high cap rates and positive cashflows, I see hard to achieve it in Manhattan. A very quick gross analysis indicated some pockets of Queens, Long Island, Jersey etc had high cap rates. Also, studio had higher cap rates than 1br and so on. I wanted to know what people thought or what they looked at in general before I delve deeper into numbers.
Response by NYC10007
almost 13 years ago
Posts: 432
Member since: Nov 2009

Hee, haha...you make it out like there is actually an answer to your question. Manhattan RE is not Algebra, where 1+1=2. You're either lucky or have a 6th sense...or both, that's the only way to make money in Manhattan. And your point is correct right now...there aren't many good investment opportunities, period.

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Response by technologic
almost 13 years ago
Posts: 253
Member since: Feb 2010

I would never invest in Manhattan right now unless I had cash to burn.

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Response by ANagin
almost 13 years ago
Posts: 68
Member since: Dec 2010

It would depend on how much money you have to play with and your skill-set. In addition, it would also depend on your tolerance for different types of uses (i.e. managing residential tenants, commercial, etc.). Finally, it would depend on how hard you are willing to work to find a good deal. RE is like used cars, there is always a good deal to be had and many times more bad ones. Good luck :p

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Response by JohnMiller
almost 13 years ago
Posts: 33
Member since: Mar 2012

A number of people I know are buying in Bedstuy and Bushwich. Personally I dont know much about these neighborhoods... but will assume that anything slight north of UES and UWS should be better bets than areas like Bedstuy and Bushwich. Any thoughts?

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Response by mimi
almost 13 years ago
Posts: 1134
Member since: Sep 2008

Bed-Stuy is the place where I would invest.

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Response by a2deuce
almost 13 years ago
Posts: 115
Member since: Apr 2007

Hamptons....then rent the place.

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Response by Ottawanyc
almost 13 years ago
Posts: 842
Member since: Aug 2011

Think of London. Anything near an attractive tube line. I would follow the L line....

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Response by ousider
almost 13 years ago
Posts: 20
Member since: Apr 2011

Why not the 7?

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Response by caonima
almost 13 years ago
Posts: 815
Member since: Apr 2010

florida

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Response by deplucha
almost 13 years ago
Posts: 120
Member since: Oct 2008

Like mimi says, the next up and coming areas

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Response by JohnMiller
almost 13 years ago
Posts: 33
Member since: Mar 2012

Though I wonder if Bed-Stuy is now overpriced...

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Response by Pawn_Harvester
almost 13 years ago
Posts: 321
Member since: Jan 2009

Central Harlem, below 125. Amazing, land marked housing stock around Lenox. Great valued vs. lower Manhattan and not much more expensive than other parts of Harlem.

I think there are some good deals on the NJ shore right now...

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Response by realdeal777
almost 13 years ago
Posts: 72
Member since: Jan 2013

Thanks for your opinion guys.

I was thinking more in terms of PRESENT cap rate and positive cashflow rather than FUTURE appreciation prospects.
Any ideas?

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