erichgswong, Home Buyer in Brooklyn, NY

Foreign couple looking to buy a Multi-Family Home in Brooklyn Height for rental income

Asked by erichgswong, Brooklyn, NY Wed Apr 3, 2013

I am a foreign resident looking to buy a Multi-Family Home in Brooklyn Height as an income property renting out the entire home. I have a budget of US$600k but am able to put down US$350k deposit and looking for bank financing of the remaining US$250k.

Please advise what's the process of taking up a bank loan in NY and whether I can simply find a Multi-Family Home in Brooklyn Height for US$350k or less so I can pay in cash? Thanks Eric

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Luke Constantino’s answer

I am qualified and have worked with foreign buyers here many times in the past. I also know of lenders who will work with you. Brooklyn Heights is way over the amount you want to spend. I have alot of other nice areas in Brooklyn at your price range.

Feel free to give me a call anytime.

Luke Constantino
Keller Willams Real Estate
(212) 300-3919
0 votes Thank Flag Link Wed Apr 3, 2013
Hi Eric
Brooklyn has many areas where you can find a multi-family, 2 or 3 possibly larger, but chances are it will need some work, for 600K. However, Brooklyn Heights would not be included in that price range.
How familiar are you at all with Brooklyn? you will have to be a little more open-minded. at any rate
should you wish to find out what is available in this price range contact me directly and I will be happy to assist you.
0 votes Thank Flag Link Wed Apr 3, 2013
Brooklyn Heights is NOT in the budget that you are working with for a multifamily home.
You could find one apartment within a Condo building and there are Banks that will lend as a Foreign Investor.
I work with many such investors.
Please feel free to call or e-mail me directly for further information or assistance.
Kathryn Lilly, Broker
Realty on the Greene, LLC
0 votes Thank Flag Link Wed Apr 3, 2013
Thank you for your questions! We can definitely help you! Please call us at the office @ 1-718-875-8899 so we can schedule an appointment ASAP. We are open 7 days a week Monday Through Friday 9:00 AM to 9;00 PM Sat & Sun 10:00 AM to 7:00 PM We are member of Brooklyn New York MLS & Manhattan REBNY MLS
For more listing visit:,

Office 1-718-875-8899
Brooklyn Real Property, Inc.
Downtown Brooklyn Office
389 Atlantic Avenue (Bet: Bond & Hoyt Street)
Brooklyn New York 11217
Canarsie Office
9201 Flatlands Avenue (Corner of East 92 Street)
Brooklyn New York 11236
0 votes Thank Flag Link Wed Apr 3, 2013
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