Tc, Home Buyer in Jackson Heights, Que...

i am looking for a condo close to or in manhattan that i will be able to rent out. for around 200,000.any size?

Asked by Tc, Jackson Heights, Queens, NY Thu Oct 7, 2010

i dont live in new york so will probably need a rental agency too. how does that work?

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11
TC- For that price in Manhatten, you can get a condo your dog would be happy renting out.


Farron- The easy answer is try a co-op in Clearview Gardens,that is your price range, and parking is easy when you drive up here. You would be a bus ride (Q16) and then 1 train stop away from Citifield. The problem is that renting out co-ops is tough, and your carrying charges will easily outstrip renting a hotel in Manhatten. Perhaps another solution is to stay in a hotel directly outside the city, like Queens or New Jersey. The commute in is easy, and the rates are about 1/2 that of Manhatten.
0 votes Thank Flag Link Thu Aug 30, 2012
Your budget is a little low for Manhattan. May be able to get a studio apartment. Brooklyn would be a good choice too as well as Queens. You have a lot of possibilities.
0 votes Thank Flag Link Wed Aug 29, 2012
Thank you. I record your contact info. Something I knew, but I`m not in the market everyday. Investors are always looking for a steal. But Manhattan, it hard to hide.
Flag Thu Aug 30, 2012
I live in Atlanta but I have family(no immediate family) in NYC. Want to buy in Harlem but OUT OF MY PRICE (for now). Looked in South and East Brooklyn a little better, and now Queens, want to be 1-2 train stops from Citi Field (Mets fan). Looking for something dirty cheap for NYC prices. Willing to look at fixer uppers, since I live out of state. Want a NYC property for (New Years Eve, X-mas family shopping, Fashion Week, 4th of July, PR Pride weekend, Caribbean Carnival on Eastern Parkway trips, instead of staying in a overpriced stuffy hotel in Manhattan. Grew up in Montclair, NJ left as a teen in `82, but I know the city. Can some on help me??? 130-150K.
0 votes Thank Flag Link Tue Jul 24, 2012
I'd go with Troy's LIC, suggestion, and definitely a condo. Co-ops suck as potential rentals. Even if you can rent them out, you might not be able to in the future, the board will want a cut of the rental, and then often limit it to 2 years.

Antolin Du Bois, CFP®
Certified Financial Planner
President, RichFaith Inc.
347-828-5732
0 votes Thank Flag Link Thu Jun 21, 2012
Long Island City is an ideal location its located in Western Queens and is 7 Min from midtown. Its the hottest place to live right now. Let me know how I can assist you>
0 votes Thank Flag Link Thu Oct 7, 2010
Much will depend on your area(s) of interest, if you need assistance feel free to contact me directly--also check out http://www.mlsli.com for all available condos in any Queens area.
0 votes Thank Flag Link Thu Oct 7, 2010
Hi TC,
There is a 1 BR condo currently on the market for 199K, just under approx 500 sq ft in Jackson Heights, tenant occupied.
0 votes Thank Flag Link Thu Oct 7, 2010
Tc
Has a full service agent I can help you find and list.If you have any questions fell free to call.
Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group LLC
Direct Line: 347-932-0609
0 votes Thank Flag Link Thu Oct 7, 2010
You can hire a real estate agent to represent you with the rental. Generally there is a small fee involved, but in some cases the buyer will pay the fee.

Ian
0 votes Thank Flag Link Thu Oct 7, 2010
You might want to take a look in Queens. There are several areas along the train lines that have condos available in the 200,000 price range. You might also want to take a look at co-ops, although it is more rare there are co-ops that allow you to rent right away. Generally speaking you will find more for your money with a co-op. If you are interested in taking a look in Queens feel free to contact me. I have several different options that might fit your needs.

Ian Perler
Beaudoin Realty Group
Ian@BeaudoinRealtor.comm
0 votes Thank Flag Link Thu Oct 7, 2010
I think you will probably find that you'll have better luck outside of the city at this price point. So your goal should be to align yourself with agents if the areas you identify as possibilities. NYC has so many "feeder" areas, across 3 states really, New York, New Jersey and CT - all of merging into the city every morning ;-) I would start by trying to finetune the area of interest and go from there.

Keep your eye on all expense lines - monthly mortgage payments, taxes, monthly maintenance, insurance etc so you understand your expenses and can evaluate whether you can recoup rental to cover. Be sure to have a process to evaluate credit of potential tenants, whether you rent with an agent or on your own, don't overlook this step. Most agents can/will help you with both sales and rentals. If you decide to hire a property manager you may find it costly.

I've got a few homeowners who have been transferred with work and decided to rent while they are away, they've learned that it is work to be a landlord. So do think about what you are taking on and be sure you are comfortable with it.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Thu Oct 7, 2010
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