Bed-Stuy / Crown Heights / PLG
Started by SusanG72
about 11 years ago
Posts: 1
Member since: Feb 2014
Discussion about
I am looking to buy something in the $1-1.5 million range, and given that I should have bought several years ago, am trying to identify what will give me the best bang for my buck over the next 5-10 years. Any thoughts on these neighborhoods from those who either invest or live there? Safety is a big concern for me. So I considering whether buying a townhouse just to rent out (and not live there, if I can't get comfortable with it) would be worth the hassle that comes with being a landlord. I only see this area increasing in value over time, so I am not too concerned about the financial risk. Just curious what others thoughts are...
I was looking at both Bed Suy and Crown Heights for investment purposes and did not feel comfortable with the area. Being a landlord does not mean you do not have to go to your property. You might have to go at various hours during the day or night and my opinion is that both areas are NOT safe (yet). PLG is definitely better though.
I would suggest to go and check both neighborhoods before you make an investment. On the other hand, yes, I believe both neighborhoods will continue to increase in value.
BTW, I did not invest in Brooklyn - I bought a three family townhouse in Hamilton Heights and I am renting the apartments to two City University professors and one nurse at the Columbia University Medical Center. After doing some research, I found out that the quality of renters in Hamilton Heights is much better compared to Bed Stuy / Crown Heights.
Wishing you luck.
Thanks, John