Rent vs Buy in New York>Question Details

Mddoc27, Home Buyer in Danville, VA

If I were to buy and rent a condo would that be a good idea in NYC i Will this be a good time?

Asked by Mddoc27, Danville, VA Wed Feb 20, 2013

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8
Raoul Sodogandji’s answer
Hello,

This is definitely a good idea.

About timing, no one here can really tell you when is the best time, but i will suggest you to prepare yourself by determining in advance:

- Your budget

- The location(s) you have in mind

- The size and finishes' quality of your ideal investment

- If Cash deal. If not, if you can qualify for a Mortgage easily or will need referrals from a few of us.

- Hiring one Real Estate Professional to help out.

Remember, it can only be beneficial for you to work with a Professional that can protect and defend your best interests.

Feel Free to give me a call at my info below if needed.

Otherwise, best of luck with the rest.

Best Regards,

Raoul Sodogandji
Member of ELITE
Licensed Real Estate Agent

(o): 212.252.8772 (EXT.782)
(c): 347.993.8333
(e): raouls@nestseekers.com

" It is common in all businesses that the level of customer service, is usually based on income generated from that service given; which is fairly unfair to those who need just the same service of selling, buying or renting in New York City.

That's one of the reasons why we came up with ELITE. It is the highest standard level of same service given from a $2000 rental to a $40 Millions sale, and instead of treating the customers differently, we've decided to give them the ELITE service.

Let's help you with our services, no matter your budget, what you are selling or want to buy, we will give you and your referrals the same best experience ever lived. "
1 vote Thank Flag Link Wed Feb 20, 2013
Mddoc27,
Yes, it is definitely a good idea as well as a great time to buy and rent out a condo in NYC. Our market has been trending up and inventory is tight, which will only cause prices to continue to rise. That is why jumping in now makes a lot of sense. At the same time, mortgage rates are still low, though beginning to rise, so taking advantage of these historically low rates now is also wise. It is a strong rental market as well, so you should not have difficulty renting out the condo once you purchase it.
1 vote Thank Flag Link Wed Feb 20, 2013
THANKS FOR ALL THE ANSWERS, WAS WONDERING WHAT AREAS ARE THE BEST PLACES TO INVEST IN NYC..BASICALLY LOOKING FOR A CONDO AND PLANNING TO RENT IT
1 BR/1 BA
WHAT WILL BE MY POSITIVE CASH FLOW IF ANY?
0 votes Thank Flag Link Fri Mar 8, 2013
Please call me to discuss. My name is Tauja and I can be reached at 347-882-0353.
0 votes Thank Flag Link Thu Feb 21, 2013
It's always a good time to buy when you are ready purchase; as for a good idea, much will depend on your budget/financials; therefore consult with your attorney, and or tax professional, see if an investment property makes sense for you at this time....
0 votes Thank Flag Link Wed Feb 20, 2013
It is a great time and investment at the moment. Good rentals are always in demand.

Chris
0 votes Thank Flag Link Wed Feb 20, 2013
This would be a great idea to do it now because the rents are high and the prices are still reasonable, especially for cash buyers, who can close fast. I have several nice options to share - in desirable areas, close to subway, etc

Please feel free to contact me
Elena Ravich
Rakita Realty
646 593 7207
elena@rakitarealty.com
0 votes Thank Flag Link Wed Feb 20, 2013
Best time to buy.!! Be prepared to pay the asking price or may be a little over ask. Market is hot and everything is flying off the shelves. If you wait any longer, the prices will go up along with the mortgage.

Good luck,
Parish
0 votes Thank Flag Link Wed Feb 20, 2013
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