Any money you spend to upgrade gets an automatic 50% depreciation the 1st year because of the location in Louisiana. this property is in the suburbs, high and dry....and there are many more like this....bottom line you can leverage twice the amount of money here, get it back sooner, and flip it faster with less tax implications than any project in the Big Apple.
Email me for more info.
My broker has great literature on the NYC realty market - what to think about when starting your search, costs, types of buildings, amenities, etc... I would be happy to forward you the info. I believe you need to be as informed as you can when buying real estate, so if I were you, I would:
1.) determine what my goals are,
2.) determine what I can afford,
3.) pick a neighborhood,
4.) pick a good Realtor - listens, answers your telephone calls and emails, professional, doesn't demean you,
5.) get market information - past and projections for the future re: neighborhood, building, public transportation, etc.,
6.) get you financials, referenences, deposits in order, and
7.) pounce on the apartment(s) - we still have bidding wars for some apartments.
Just my 2 cents.
Feel free to contact me. I would be happy to recommend a great agent, also.