Rentals in East Flatbush>Question Details

Temujin Scott, Renter in New York, NY

looking for a nice studio in Brooklyn to rent - safe neighborhood - rent range is $850-900. Neighborhoods: Fort Green, East Flatbush / Flatbush Ave

Asked by Temujin Scott, New York, NY Sun Aug 26, 2012

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Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

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0 votes Thank Flag Link Tue Aug 20, 2013
i have a studio on utica and east 51 for $800 everything included call me 718-207-8291
0 votes Thank Flag Link Thu Nov 8, 2012
Hi Kane - are there any more listings - I know I am late with this reply!
Flag Tue Dec 4, 2012
I have a studio Apartment located in East Flatbush. To arrange a viewing please contact me at 407-922-6479/
0 votes Thank Flag Link Tue Sep 4, 2012
I have a newly renovated studio in east flatbush right off of flatbush ave in that price range. Give me a call 347-687-1509 so we could set up a viewing.
0 votes Thank Flag Link Sun Aug 26, 2012
I would love to pay 850-900 for a rental in Fort Greene, but unless it's your Aunt's basement, I feel that is very unlikely to happen. To better your chance of getting a rental, your going to have to pay alittle more in rent.

Luke Constantino
Commercial | Residential
Direct: (212) 300-3919
0 votes Thank Flag Link Sun Aug 26, 2012
Luke, thanks for responding - I want to be in the Flatbush / East Flatbush area - I am looking for an agency that is willing to help me find a nice place
Flag Sun Aug 26, 2012
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