Deano, Home Buyer in New York, NY

Hi, im looking into purchasing a high yield apartment in New York. Obviously the higher the yield the better, however I really dont understand what

Asked by Deano, New York, NY Mon Mar 15, 2010

fees and taxes will affect my gross yeild. I am non resident of the U.K after previously residing in the U.A.E. I would really appreciate it if you could explain to me all the costs and taxes involved with the fixed income type investment i am looking for. I have been advised a deleware LLC is the most suitable tax efficient vehicle to purchase property within ? I would also like advice on where to buy and information on reputable and reliable property management companies. Also if you have ready packaged high yield properties that the owners are willing to sell at attractive BMV rates that would be interesting to me. My budget is $ 250 K, however I am interested in spreading that between two properties if possible or if not efficient I am prepared to invest in one apartment.

Looking forward to your response.

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Nirmala Cara…, Agent, Bronx, NY
Mon Mar 15, 2010
Dear Deano,

I would first suggest that you meet with an attorney and have them set up a specific entity that will cover your real estate purchases. As an real estate agent, I cannot give you any legal advice. Once you have your entity set up, they take less than 2 weeks to set up, so I have been told. The attorney can structure your Corporation type to fit your specific need, along with the legal protections you are looking for. Once that is done and you are advised by your attorney, you can then proceed in your real estate venture. Some of the areas that you can look at includes, Bronx, Brooklyn, Queens and some parts of Manhattan.

I would be glad to discuss this further. Look forward to speaking to you and good luck.

Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
Tel.: 646-479-7873
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Joseph Asaro, Agent, SEAFORD, NY
Mon Mar 15, 2010
Hi Deano - what u r asking is quite complex, which at the moment
Would raise more questions than answers -
Your price range would put u in areas outside of manhattan.
There many super areas in queens withins 30 - 40 min from the city
And being able to use public transportation -
Should u wish to discuss it further, email me a line
And we can take it from there
Joseph asaro
Real Estate solutions
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