CTannStarr

Hello Ming & Chris,

I will be holding an open house at Parkway Village on Saturday 6/7/08 between 11-12:30. The address is15038 Village Road #98GB Jamaica NY 11432. Use Mapquest.com for directions. Park on the north side of the Grand Central Parkway service road between Parsons Blvd and Main street. We will have directional signs with balloons up. If you email me I will be more than happy to forward the listing information to you. (ML#2084091) Enjoy your day.

Regards, C. - Tue Jun 3 2008, 10:34

Hello Ming & Chris,

I live walking distance from Parkway Village and it is a lovely, well maintained complex. I've seen every sized dog imaginable, so pets are allowed and there does not appear to be a "height limit." I have a few friends who live there and know of listed and For Sale By Owners available if you would like to take a look.

There are approximately 109 buildings comprising 564 owner occupied units, 35 investor sublets, 76 unsold shares for a total of 675 apartments. The complex was constructed in 1946 and converted in 1983. There are 475 private street parking spaces: $15 for one car tag, $35 for two (have to park off complex for the third car, owners only get two spots). You can get in for 10% down 90% financing and there is no Flip Tax. To afford a unit your household income would have to be approximately $60,000 and above.

A two bedroom garden apartment for $225,000 (average appraisal $250K) at 10% down would run somewhere in the nature of $1050 for maintenance and $1100 - $1200 for mortgage. The Maintenance fee includes fuel, landscaping (lots of lovely open spaces) a portion of the $16,359,609 mortgage (at 8%), etc. There are a few non-refundable application related fees you would need to be aware of: $800 for the application fee and then $350 to processing with an additional $100 for the credit report and income verification. They do also have a $500 move in deposit, which is refundable.

My friends love living over there. You should visit and see for yourself if you think the area may be worth your while. I'd be more than happy to show you around my neck of the woods. I hope the information given is somewhat useful for you. Enjoy your day.

Regards, C. - Thu May 22 2008, 12:15

Hello DD,

I will be holding an open house at Parkway Village on Saturday 6/7/08 between 11-12:30. The address is15038 Village Road #98GB Jamaica NY 11432. Use Mapquest.com for directions. Park on the north side of the Grand Central Parkway service road between Parsons Blvd and Main street. We will have directional signs with balloons up. If you email me I will be more than happy to forward the listing information to you. (ML#2084091) Enjoy your day.

Regards, C. - Tue Jun 3 2008, 10:25

Hi Gabe,

If your rent is under $1000 for a studio now, why on earth would you want to get a mortgage and pay more for a different studio?

Upgrade to a one or two bedroom so when you do get around to selling, you will have a larger buyer / rental pool of potential customers to choose from. That future purchase represents the best investment you believe your money can buy. You want to do everything you can to maximize all potential return on your investment. Don't buy another studio, save money and live where you are until the right opportunity presents itself that makes the most financial sense and allows you to maximize value while working within your budget.

Regards, C. - Thu May 22 2008, 13:13

Hi Wil,

A $600 apartment is a goldmine! Hang onto it for dear life, buy your multi-unit house as an investment property and rent out those apartments. Take your time and find a great building to bid on. There are new construction 3 families that are not moving well all over the city. Try to grab a discounted pre-foreclosure / short sale recently built home (2003-2007) or a builder's excess inventory. Brooklyn has some really nice units to choose from. Live in Queens, rent in Brooklyn or another area that can provide what you need.

Regards, C. - Thu May 22 2008, 13:04

Hi Peaches,

I would be more than happy to help you as well. You may contact me direct at REMAX People Realty, 718-483-7339.

Regards, Carolyn. - Thu May 22 2008, 11:31