daisykeller, Home Buyer in 14534

looking for rental income apartment in new york city. any recommendation?

Asked by daisykeller, 14534 Mon Nov 18, 2013

Looking for apartments or condo in New York City that can generate decent rental income. Good location, budget 1.5m, any market insight and recommendation will be appreciate

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Answers

19
Hi,

Investing in real estate in NYC there's about 6-7% percent cash on cash return. I have done a lot of them lately with foreign inverters. Call or email me if you would like me to assist you with your investment. Also I have investment properties in NYC and Hudson County, NJ that are OFF MARKET for sale.
1 vote Thank Flag Link Tue Nov 19, 2013
For this amount of money you can buy 3 family house in Brooklyn and receive 3 rents every month like income
0 votes Thank Flag Link Wed Jul 23, 2014
There are many options available in NYC. It is always a great market.
0 votes Thank Flag Link Mon Jun 23, 2014
I have several options in Harlem in that price range and with a budget like that you can get yourself an entire 4 story building that yields up to 80-90K/year in profit - My office is centrally located in East Harlem, we area family owned and operated - please feel free to contact me if you are interested 917-365-4065
0 votes Thank Flag Link Wed Jun 18, 2014
Hi Daisykeller,
I specialize in working with buyers on investment properties that yield high net rental income. I also specialize in finding excellent tenants for my investors after closing, for the maximum rental price. $1.5 MM is a healthy budget for a condo, and I have several in mind that would make excellent investment properties. Please give me a call at 917-727-1456 or send me an email at brooke@nestseekers.com to discuss further.
0 votes Thank Flag Link Mon Feb 3, 2014
Hi Daisy, I own an investment portfolio of my own and work with investors such as yourself in Manhattan & Brooklyn. There are some good options available for you. Call me directly at 929-777-0549.
0 votes Thank Flag Link Mon Feb 3, 2014
Not now and not in real Manhattan! Prices are too high, 1.5 million in Manhattan is not much, you can get a 1B condo in a new construction with high maintenance, if the market goes down, then you will be stuck with this "investment" and forced to sell low. But, listen to others. Good luck!
0 votes Thank Flag Link Wed Nov 20, 2013
save up your money, the rents here are nose bleeders
0 votes Thank Flag Link Wed Nov 20, 2013
Thanks for your honest advice. How bad is NYC rental market? Would love to know. You are the only broker who gave me this kind of advice. Would like to chat with you if any chance. So which direction you think i should go?
Daisy Keller
Flag Wed Nov 20, 2013
Please call me to discuss. My name is Priyta and I can be reached at 917-499-6500. Thank you and good luck.
0 votes Thank Flag Link Tue Nov 19, 2013
Why not simply work with an agent of your own....
0 votes Thank Flag Link Tue Nov 19, 2013
I'm working with a large variety of clients looking for the same. I can point out all the best income producing properties currently within that budget. Fell free to contact me for further info.
Regards,

Viviana Montenegro
Charles Rutenberg
Licensed Real Estate Professional
C: 718 551 5135
Viviana@vmcasa.com
0 votes Thank Flag Link Tue Nov 19, 2013
Hi Daisy,
I can defiantly help you, I have lots of contacts in the relocation world so getting your place rented will not be an issue. There are many opportunities for you in the upper east side and if you have some time to talk tomorrow please provide me with the best number and time to call. I look forward hearing from you and helping you find an investment property.
Best,

Hector De La Cruz
Realtor Associate NY and NJ
Nest Seekers INTERNATIONAL
Manhattan LIC Brooklyn Miami Hamptons International
415 Madison Avenue
Ny, Ny 10017
O + 212.252.8772
C + 973.986.3903
F + 212.252.9347





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0 votes Thank Flag Link Mon Nov 18, 2013
It depends on your long/short term goals. You have a few options. You can purchase a townhouse in Brooklyn, it would give you much higher return than apartment in manhattan, and i believe it will have higher value appreciation but it will need more involvement in managing it or you can hire a managing agent.
if you are looking to purchase in manhattan, your cap rate will be around 2.5-3 max, i would recommend to purchase 2 or 3 smaller apartments instead of one large, its always takes longer to find a tenant for 2br.
$1.5M will get you a 2br, with monthly charges approx $2k. You can lease it out for maybe $5,000/month, you clear $36K.year, thats 2.4cap rate. If you looking at long term investment, you will benefit from the property appreciation. If you purchase 2 one bedroom apartments projected rent is $6K/month at least.
I like brooklyn for investment because the rents there are almost as high as in manhattan but monthly carrying charges are significantly lower.
Hope it helps
feel free to email me for more details
cheers
masha
0 votes Thank Flag Link Mon Nov 18, 2013
I can offer you some excellent choices of "investment" apartments in an excellent location on the Upper East Side. Contact me to discuss.
0 votes Thank Flag Link Mon Nov 18, 2013
Hi There!
As you may have heard before, now is the prime time to buy--the market is hot and the number of investors is increasing by the numbers. Regardless of how the market is, things will rent and generally will rent fast (people are constantly looking to move). A 1.5 million $ condo or co-op could generate a significant amount of money, however, many buildings (depending on whether you purchase a co-op or condo) have policies that limit renting your unit out. Often it is around 2-3 years residency, then you're allowed to rent it out to tenants. Condo and co-op boards do this because they want longtime tenants who live in the building. With that said, are you going to be living in NY or will it be a pied-à-terre type situation? Regardless, I'd be happy to help, as I have worked with many in your situation and have found lovely properties for them. Feel free to contact me at anytime--Looking forward to hearing from you.

Eric Rohe
Citi Habitats
400 E 84 St
New York, NY 10028
201-328-2758
Erohe@citihabitats.com
0 votes Thank Flag Link Mon Nov 18, 2013
I will be happy to help you.
My contact info. 917-3127716
0 votes Thank Flag Link Mon Nov 18, 2013
You have many options to you. Just have to figure out which part of the city you want to purchase in. I can show you a few properties. Give me a call to discuss in details 646-243-4516

Best,
Akilah Williams
Akilahw@nestseekers.com
0 votes Thank Flag Link Mon Nov 18, 2013
Hi Daisy,
I work with investors such as yourself in Manhattan & Brooklyn. There are some good options available for you with nice ROI.
Please contact me to discuss:
Michelle Weissman
Licensed Real Estate Salesperson
Member of the Real Estate Board of New York
The Corcoran Group
d: 212.360.2462
f: 212.415.6369
m: 917.293.3427
Michelle.Weissman@corcoran.com
1226 Madison Avenue, New York NY, 10128
0 votes Thank Flag Link Mon Nov 18, 2013
How much rental income are you looking for? I can help you search for the right property to invest in. Are you planning on financing or cash? Please feel free to call/text/email me to discuss further.

Karen Cheung
917.334.9544
kcheung@citihabitats.com
0 votes Thank Flag Link Mon Nov 18, 2013
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