Foreclosure in New York>Question Details

Isabel Elses…, Real Estate Pro in Alpharetta, GA

I'm looking for an investment property or vacation property with-in 50 miles around metro New York City.

Asked by Isabel Elsesser, Alpharetta, GA Thu Nov 25, 2010

at least 2 bedrooms 1.5 baths. In an area that is up and coming or being revitalized.
Looking for a low priced deal.

Help the community by answering this question:


The North Fork of Long Island is a great area to look. I specialize in vacation homes in the area. There are nice opportunities in that category in many of the beach communities. There are cosmetic fixers with two and three bathrooms on my short list.
0 votes Thank Flag Link Mon Jan 31, 2011
Hello, Your question is a good one but a bit open ended. Have many good properties here in the suburbs of NYC. We are about 20-35 miles North of NYC and there are quite a few good investments that are either Short Sales or Foreclosures. Would recommedn a Condo as there are less requirements on your part. Occasionally there are single family homes that work as well. Let me know if interested and Good Luck, Allan

Allan Erps, ABR,SFR
Licensed Real Estate Salesperson
BHG Rand Realty
95 S Middletown Rd
Nanuet, NY 10954
VM(24 Hours) 845-770-2141
Cell Phone/Text 845-304-3040
Fax# 845-624-7137
For the latest in Buyers and Sellers Resources,
visit my website at;
0 votes Thank Flag Link Wed Jan 26, 2011
Hi Isabel,

You won't get reliable results for a property search by posting an open question on Trulia. Establish some relationships with brokers in the areas you find interesting. That way they feel some connection to you and are more likely to assist you in finding a great area/property. Either that or use Trulia to do the search yourself!


0 votes Thank Flag Link Fri Jan 21, 2011
The key to profitability is low price compared to competing property offerings in an attractive location and low monthly maintenance so that the margin is safely large, even with leasing the apartment at less than the median rent in the neighborhood.
That's why I would call your attention to 208 East 70th Street - #1G which is the lowest priced studio in Lenox Hill (Upper East Side), an area dense with young single persons generating constant heavy demand for small apartment rentals, and bears the lowest monthly maintenance of all current offerings, so that a 4% ROI is possible at a monthly rent of apx $1400 (versus $1500-1700 for other studios under 500 sf) on a purchase price of $249,700. The building is a low-rise post-war elevator building with live-in Super' and laundry in the basement.
Othewise, I would pass over your inquiry due to your specification of 2BRs and 1.5 baths (hard to find with the right price and the right rent potential).
Web Reference:
0 votes Thank Flag Link Fri Nov 26, 2010
Your question actually begs a few questions:
-how much are you looking to spend?
-are you looking for beach towns or mountain escapes?
-condo/ town home or single family or multi-family?

W/O a little more on what you actually desire, there are many destinations; but why not narrow the field if possible.

0 votes Thank Flag Link Fri Nov 26, 2010
I see you are from Georgia. If your short term goal is investment property and your long term is to be close to NYC, you might like to know that just 30 m. from mid town you find the River towns of Hastings, Dobbs Ferry, Irvington, etc...
Besides being a broker with Brown Harris Stevens in NY, I work with Houlihan Lawrence in Westchester. Check out our greatr website. I have a property in mind with RIver views, 2BR, 2 baths, in a community that offers tennis and swimming. If you want I will send you the listing please contact me.
0 votes Thank Flag Link Fri Nov 26, 2010
2 bedrooms, 2 baths w/ jaccuzi 50 mis. from NYC. Located ON Ski slopes, summer water park, year round recreation/ relaxation! Rent or vacation-$169,000.
0 votes Thank Flag Link Fri Nov 26, 2010
You can look in upper westchester, dutchess or putnam counties....great deals...
0 votes Thank Flag Link Fri Nov 26, 2010
Low priced, or in foreclosure or short sale?

Don't forget New Jersey and Connecticut, which are separate real estate license areas. (New Jersey has some of the highest property taxes in the nation, but if the rent numbers work, that might be OK for you or your buyer.)

Karla Harby
Rutenberg Realty
Manhattan and Brooklyn
0 votes Thank Flag Link Fri Nov 26, 2010
Hamptons Real Estate...The Best Investment in Today's Current Market Conditions. Properties are available in all price ranges. The Hampton's,NY. Is The Best Investment You Can Make Right Now. Waterfront home on the bay in the Hamptons....Gunite Pool, Pool House, and All Weather Tennis sitting on 200' of Prime Hamptons WATERFRONT Real Estate. Priced To Sell Now. To View All The Best Deals In The Hamptons...
0 votes Thank Flag Link Thu Nov 25, 2010
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