can anybody find me an apt. in the city to rent out?
Started by er1to9
almost 17 years ago
Posts: 374
Member since: Mar 2007
Discussion about
I would like to buy an apartment in the city, to rent out....studio or 1-bed...........any deals out there...?
You'd have to buy a condo (as opposed to a coop). What's your budget? Do you have a particular neighborhood in mind?
murray hill , ues, uws, union square, midtown east, downtown, gramercy.......studio or 1bed......under 500k....
i hope you're joking. enjoy your 1% ROI.
thats fine with me....i want to buy.....any links to an apt that i can buy to rent out?
er - not sure why you're asking readers to do this simple leg work for you. Go to the advanced search on SE, select the neighborhoods you list, set your cost parameters, indicate condo, and voila, a list of opportunities. Good luck! I think you are smart to buy now if you have a long-term horizon and can find a deal.
er, I can get you a brand new 1 bed for under $1M in a luxury condo where the develop will GUARENTEE rent. email for details rglazer@bhsusa.com
are you kidding me, you can't use streeteasy's search tool?? agent rachel, there is a developer guaranteeing rent? Can you elaborate on this?
yes stoyvel. i don't want to really discuss all here because these guys jump down my throat at any opportunity. can i email you somewhere else or can you call me? it's in west chelsea (highline area).
If you want to be close to break even (considering a 20% down payment and including maintenance and taxes), you'd have to buy a condo unit below $400,000. Check out the following:
http://www.streeteasy.com/nyc/sale/375943-condo-312-west-23rd-street-chelsea-new-york
http://www.streeteasy.com/nyc/sale/387001-condo-400-east-90th-street-yorkville-new-york
If you don't mind Harlem and Hamilton Heights, there are two interesting options. The first one (Harlem) is priced at $399,000 and currently rented out for $2,500 per month, and the other (Hamilton Heights) is priced at a very low $195,000:
http://www.streeteasy.com/nyc/sale/351127-condo-235-west-137th-street-central-harlem-new-york
http://www.streeteasy.com/nyc/sale/386798-condo-668-riverside-drive-hamilton-heights-new-york
Marvyboy -- someone is paying 2500 for a one bedroom in Harlem? On a first floor? I would suggest that will not be the case in the future as you can get a 1 bed on the UWS at that price point.
Also, if you read the listing, there is some irony given how Strivers Row was built in the first place.
agentrachel..... guarantee rent forever?
I'm guessing this is one of those ironic, or fake threads that keep appearing. It's too bad so many people think the OP is serious. These threads really make SE look moronic, too.
er, not guarantee forever but 1-2 yrs is pretty good! u (or I) can find a tenant after that but its especially nice to have that cushion from day 1.
er...whoops...gosh...it's me...i'm back...agent liar to the rescue. how we doing with that suitcase of cash...finish counting yet?
gee 1 or 2yrs of renting it out by the developer...where do i sign up?
er, is this a hoax or are you serious?
Rachel,my dear, you are doing a Rihanna here, getting your butt whooped and then coming back for more.
Putting on my 'mom hat', you need to do some damage control.
Some thoughts:
*as a RE salesperson you should know that anyone who throws out 'I want X, got any deals?' with no parameters outlined is not serious (reference OTNYC & Stoyvel above).
*when a parameter is thrown out just to the keep the thread going, you come back with a property twice the bogus $$$.
*never guarantee anything for a client on an anonymous public forum when everyone knows your name.
Thanks for your advice sj. I am not worried about butt whooping. I have met clients here so it is well worth the whooping and chance of being bogus. I do not recall ever coming back with a property 2x the price... I am ok with everyone knowing my name and the developer is guaranteeing the rent, not me.
er1to9: We may be selling our 1br on the UWS (low 70s) as we are looking to buy a larger apartment. Asking $429K. It's a coop, we are renting it out now, bit not sure if the coop will allow the new owner to continue. Let me know if interested and I'll post my email.
how does this guarantee work? money in escrow or will agent rachel chase them for you when they don't come through?