joseph_china…, Home Buyer in New York, NY

What's the estimate rental price for this condo? What if i buy it for investment? what's the estimat return? thanks.

Asked by joseph_china2002, New York, NY Mon Mar 11, 2013

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This question was asked from this property: http://www.trulia.com/homes/New_York/New_York/sold/100073675…

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3
Joseph,
I specialize in investment property. Contact me, I will explain to you in details.
Yi Chen
Sotheby's International Realty
Yi.chen@sothebyshomes.com
0 votes Thank Flag Link Tue Mar 12, 2013
Too many factors that need consideration for an accurate answer, therefore consider working with an agent of your own, so that an educated decision can be made....
0 votes Thank Flag Link Tue Mar 12, 2013
While there are many issues in regard to buying a condo or co op in Manhattan as an investment property and renting it, I will talk about one. This is located in the Wall St area which suffered heavy damage last year due to Hurricane Sandy. Many rental buildings were evacuated and residents have only recently been able to return to some. And some landlords released tenants from their lease. So there are lots of vacancies that you would have to compete with. So I would avoid this area as an investment if you are expecting any return. Over the long term, I could be wrong especially if you factor in appreciation.
0 votes Thank Flag Link Tue Mar 12, 2013
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