Home Buying in New York>Question Details

Valerie, Home Buyer in New York, NY

What kind of property can I buy for about 70k in 5boro New York.?

Asked by Valerie, New York, NY Wed Nov 2, 2011

I have about $65.000 - 70.000 in cash and I was wandering if it's possible to buy some property in New York area as an investment.
Thanks

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9
contact me I specialize in finding houses at low cost, and in the range you are talking about.
check out my website. with me you state what you can afford and I go out and find it for you.
0 votes Thank Flag Link Tue Nov 8, 2011
In the 5 boroughs there is nothing that will work for you. If however
you would like to work with other investors, there are opportunities
to purchase and rehab properties for under 250K. e-mail me if you're
interested.

Marco Gomez
NY State Licensed Associate Broker
Realtor®
Keller Williams Landmark II
marco.gomez@gmail.com
0 votes Thank Flag Link Thu Nov 3, 2011
Hi Valerie,
I do not think it's possible to buy a property in that price point. I have notes for sale that you can buy. Please email me at parish.pradhan@kwnyc.com with your number to discuss further.
Looking forward to it.
Thanks,
Parish
0 votes Thank Flag Link Thu Nov 3, 2011
Hi Valerie. As you may have noticed by the responses below, finding property in your price range will be a challenge to be sure. Your budget will yield very few options. Please keep in mind that price is one thing, the other will be closing costs. Since you don't want to finance, Bank fees are non-existant but you'll pay for your attorney and other things.
Lastly, if you could take a bit more time and save a bit more, your options may multiply. Good luck.
0 votes Thank Flag Link Thu Nov 3, 2011
Thanks a lot, everyone.
To Uzi, I 100% agree with you, but I can't afford any mortgages right now.

I see that a few of those who replied are agents, I don't know how it usually works, but i will appreciate if you will send me some real listings that meets my needs to my email along with your rates.
Thanks a lot.
0 votes Thank Flag Link Wed Nov 2, 2011
I am answering your question from Brooklyn, NY. You may able to get a studio Co-Op.
0 votes Thank Flag Link Wed Nov 2, 2011
a smart thing to do is to use your money as a down payment on a property , buy the property and rent it out in a way that the monthly rent will cover your mortgage and still get a small stream of income every month and you own the property, thats a good invesment!
0 votes Thank Flag Link Wed Nov 2, 2011
Hi Valerie,

There are not many options for this. You did mention as an investment, so perhaps a parking lot or maybe a single family in Brooklyn, The Bronx or Staten Island. I did find one single family structure in Brooklyn going for $82K recently. Pretty solid area in terms of transportation options.
Do keep us all posted online about your progress!

All the best!
RS
0 votes Thank Flag Link Wed Nov 2, 2011
I don't think you can find properties at that price in the 5 Boroughs
0 votes Thank Flag Link Wed Nov 2, 2011
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