Skip Navigation
StreetEasy

Sale at 398 State Street

Started by nycleo
almost 10 years ago
Posts: 17
Member since: Nov 2011
Discussion about 398 State Street
Why can't I find an estate sale home for 1.7M and then flip it to net 1M? How do these investors find these places?
Response by Schott
almost 10 years ago
Posts: 4
Member since: Jun 2012

Many times investors and brokers mail places directly and make offers off the market. Many owners would rather just get a cash offer and close quickly vs looking for a buyer on the market place. There can be many reasons a property sells for under market. Ie, get zoning changed, someone passes and the estate wants to liquidate quickly, the city can have multiple violations against a property that are too costly for the current owner deal with... many many reasons.

Ignored comment. Unhide

Add Your Comment

Most popular

  1. Wealth Gap have a < effect on the working man?
    35 Comments
  2. Losses on Manhattan condos
    52 Comments
  3. Leveling floors
    20 Comments
  4. Park Avenue on Sale
    43 Comments
  5. Are there any post-election fire sales?
    13 Comments