I want to buy an investment property in Brooklyn or Queens for 400,000 or under, where should I look?

Asked by Carol, 10009 Sat Mar 22, 2008

thinking about Jackson Heights, is this a good time or should I wait?

Help the community by answering this question:

+ web reference
Web reference:


Gerry Vazquez, Agent, NY,
Sat Mar 22, 2008
Carol, I just took a quick look at the inventory (as per MLSLI) and found the following inventory in Queens/Brooklyn under $400k::

2009 condos/coops
907 homes (including 130 2-3 unit properties)

Brings up lots of questions. A multi-family, single family or condo? How much property management are you prepared to undertake yourself? Preference for neighborhood types? Marginal, up and coming, established, toney?

In regards to Jackson Hgts, it's a very attractive location w/a nice supply of units at modest to moderate prices. I'm familiar w/the area and have seen it's rise since I helped start to terrific schools there. In terms of current inventory, there are 26 condo units for sale under $399,999--a couple 1 bdrms as $269k, and 119 coop units (ranging from a $119k studio to a $389k 2bdrm in the prime historic district).

Lots of great choices.

Carol, Let me know if you'd like my assistance in your search.

1 vote
Anna M Brocco, Agent, Williston Park, NY
Thu Mar 19, 2009
It's a great time to buy and you do have a lot of options. The question you should be asking yourself is how far from where you call home do you want to buy--if you do rent out how close do you want to be should a problem/emergency arise. Once you have that answer, focus on the neighborhood.

0 votes
Gloria Soria, Agent, Elmhurst, NY
Wed Mar 18, 2009
Hello Carol : As the other people anwered you,

there are a lot of inventory in the market. But if you really wants to know and you are a this point preaproved with your bank , let you know that you need a least 30% of initial investment, I can help you to find the condo you want. Just call me at 917-836-1077 or email me at gloriasoria2003@yahoo.com I am able to answer any question you might have and guide your for the process with foreclosures, REo, New Developments and everything availabe in the market.
Gloria Soria ,.Realtor., e-PRO
Coldwell Banker Laffey Assoc.
cell 917-836-1077
0 votes
Adrian Manza…, , 11372
Thu May 8, 2008
in my honest opinion
with the iron triangle being renovated, and the subprime mess, Corona is ripe for investment. those who dont get in now. will be talking about how they wish they bought in Corona.
beileve it
0 votes
Seagreen Real…, , 10017
Mon Apr 28, 2008
Hello Carol,

What are you looking for?? Condo?? house? one or two family??
There are lots of properties available in Brooklyn and Queens..
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more