Home Buying in 11355>Question Details

mcw, Home Buyer in 11355

Hi, What is the best area to be invested in Queens, NY?

Asked by mcw, 11355 Tue May 31, 2011

I am thinking about buying a condo for investment. Basically, I will rent the condo out and hopefuly the rent can cover the mortgage. I heard about Astoria, but only been there once, so I am not very sure about the rent there. The max I can put down is 150k. And I do own a 2 family townhouse in Flushing. Since financing is tough now, I am not sure the bank will approve me the loan to buy a second condo. Obviously, if I buy something under 300k, it may be OK. Please advice.

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Kew Gardens Hills has a VERY strong rental market for apartments and small houses!
0 votes Thank Flag Link Sun May 12, 2013
I'd go with Astoria, unless you know very tiny people for Ray's.
0 votes Thank Flag Link Tue Jun 19, 2012
Their are many great deals in the Queens area, that would have a niceextra money return for you.If not right now ,but in the near future.
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Fajardo Delacruz
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Century Homes Realty Group LLC
Web Reference: http://www.desire2own.com
0 votes Thank Flag Link Thu Jun 2, 2011
We have a 2 bedroom condo(less than 600 sqft), all brand new inside the unit, balcony, can put washer/dryer and has indoor parking included on the asking price of $329,000 in Flushing. Walking distance to "7" train.

The unit is not that big but, it's in the area that you can rent it out easily between $1,600-1,800 because of the above feattures. The garage is a big plus, most other condo buildings here sell parking space for additional $20,000 to 40,000. Also, with your down payment, you won't have a problem to get a loan.

0 votes Thank Flag Link Tue May 31, 2011
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore before beginning your search, do visit with any qualified loan officer. For available properties in Queens, check out http://www.mlsli.com Consider researching areas on your own as well and do visit areas of interest more than once; best area should be dictated by personal preferences; real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods.
0 votes Thank Flag Link Tue May 31, 2011
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