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does it make sense to buy a studio to rent out?

Started by er1to9
over 17 years ago
Posts: 374
Member since: Mar 2007
Discussion about
i want to buy a apartment in the city to rent out........does it make financial sense?
Response by bramstar
over 17 years ago
Posts: 1909
Member since: May 2008

It depends. You'll have to buy a condo, as co-ops restrict subleasing. If you can find something near NYU or Columbia, that would be best, in my opinion, because lots of students rent these days. Of course, you'll have to do some math--are you making a significant profit after mortgage payments, common charges, insurance, and general upkeep? If so, it could be a sound investment. Look for something that gets great light (dark studios can feel like caves) in a good building.

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Response by er1to9
over 17 years ago
Posts: 374
Member since: Mar 2007

thanks

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Response by uesowner
over 17 years ago
Posts: 47
Member since: Apr 2007

Some co-ops allow subleasing.

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