Home Buying in Bronx>Question Details

Tracey, Both Buyer and Seller in Brooklyn, OH

I see some insanely low listings for the Bronx. Even if all I want to do is make a monthly profit from

Asked by Tracey, Brooklyn, OH Wed Nov 28, 2007

renting out a condo, is it worth the risk of it being difficult to sell years down the road?

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There may be many reasons for "insanely low listings", including your frame of reference. Real estate values really are local and what looks insane from Manhattan may not be in the Bronx. So you have to compare apples to apples. And you need to work with someone who has experience in the whole Bronx market and enough years at it to have some perspective.
0 votes Thank Flag Link Tue Dec 11, 2007
First of all, if something is "insanely low", it's probably not a real price, or a real apartment. Nobody's giving away real estate, even in this market. It is always hard to know the future value of any real estate investment, but if the numbers work off the bat, and you can generate a positive cash flow, it may well be worth your while, and in the long run, may generate a nice profit. But you need to do your homework, see a number of properties in person, and work with a broker who knows what they are doing.
Web Reference: http://www.bronxagent.com
0 votes Thank Flag Link Wed Dec 5, 2007
Only you can determine what risk you're comfortable with. You can do your own research on planned developments in the Bronx to help you determine if any changes are going to occur in the infrastructure or neighborhoods you're looking at. A Realtor and a real estate attorney can help you with your decision to buy or to keep looking.
0 votes Thank Flag Link Wed Nov 28, 2007
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