Investment property wanted... ready to buy, pls help.

Asked by Buyer22, New York, NY Mon Oct 17, 2011

I posted yesterday and really appreciated the advice I received, however now I'm looking for actual properties to buy. If anyone has a listing they feel can give me a positive or at least a neutral cash flow after an 80% LTV mortgage, maintenance, taxes and mgmt fees then please send my way. I am now looking in Manhattan and Brooklyn. Please include any properties that are being sold with a tenant or any properties that need some refurbishment, I am open to taking on a project if the numbers are right. If you do send me any links please also include the projected rent that could be achieved. I am very serious about buying and in a position to do so now.
Thanks

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18
Cindy Weathe…, Agent, NY,
Mon Oct 24, 2011
Please call me. I am familiar with a number of solid investment properties throughout Brooklyn. I would be happy to assist you.

Cindy Weathers
Bond New York Properties
cweathers@bondnewyork.com
646.319.8490
1 vote
Nick Rafello, Agent, New York, NY
Mon Oct 17, 2011
Can you email me directly? I will send you some CONDO listings. Also, I'll send you my listings as well.

Nick Rafello, V.P.
Associate Broker
646-221-8321 cell
nrafello@corcoran.com
MY LISTINGS: http://www.corcoran.com/nrafello
1 vote
Elena Ravich,…, Agent, New York City, NY
Mon Jan 7, 2013
If you are working with multiple agents, it will be hard to find yourself a good broker to concentrate on your project and to be instrumental to your search because they wouldn't want to spend all the time and energy to duplicate somebody else's efforts. All brokers are members of Real Estate Board of New York have access to all exclusive listings and you just need one experienced person to provide you with all possible options and help you analyze them.
0 votes
John Arendsen, Agent, Leucadia, CA
Mon Jan 7, 2013
You asked this same question on Trulia yesterday only you were looking for properties from Malibu to Orange County. I left you a comment but you've yet to answer. Are you asking we RE professionals to just send you listing to peruse and consider without any assurance that we'll end up working with you on them. Just how do you see yourself working with us?

Exclusive Listing Agreemtnen? Buyers agent with a contract? Hand shake? Verbal agreement? LLC? I think these are valid questions. I work with a wide variety of investors/partners in myriad deals but I have aome type of agreement with them before I invest any time looking for properties for them.
0 votes
Fern Hammond, Agent, New York, NY
Tue Nov 8, 2011
1175 York probably will meet your criteria - $450K is merely the asking price!
0 votes
Weimin Tan, Agent, New York, NY
Tue Nov 8, 2011
It's highly unlikely that one could break-even on cashflow with an 80% LTV in NYC.
Web Reference:  http://www.castle-avenue.com
0 votes
Fern Hammond, Agent, New York, NY
Mon Nov 7, 2011
Look ar 1175 York apt 1B - condo 940 feet - listed at $450K - price has flexibility - needs refurbishment but windowed bath and luxuriously large windowed kitchen - you can make this unit into a 2 bedroom and rent should be around $3650.- $3750.
Common charges and taxes are around $2400. - including depreciation etc - you should be good $$ wise with this and when 2nd ave subway comes ( 6-7 years) york avenue properties will rise in price .
My number atr Halstead 212 381 3270 my cell 917 363 1992
0 votes
Nick Rafello,…, Agent, NY,
Mon Nov 7, 2011
Hi,

I have a few investment properties, one is currently occupied and I think can work to your advantage. I'd prefer to discuss with you privately. Please email at nrafello@corcoran.com

Thank you,
Nick Rafello, V.P.
Associate Broker
The Corcoran Group
212-444-7852 office
646-221-8321 cell
nrafello@corcoran.com
0 votes
Arild Joa, Home Owner, California
Mon Nov 7, 2011
Lake Almanor,Ca.96137. Rare turn key home and investment property multi use residential business.50acre zoned m.r.b.x. have been approved to build 2duplexes on back of property, not limited to being just a time share,weekly rental,business,office,or?? short walk to river and lake,property owners association available gated boat ramp,picnic area,swimming,fishing year round. this is a 4seasons resort area,near country club+2golf courses. $1,350,000. phone # 530 377 5485
0 votes
Billy Briggs, Agent, New York NY, NY
Mon Oct 24, 2011
I have many Investment properties in Brooklyn -
My Newest Exclusive >>> http://goo.gl/l4Miw

I also have the inside lead on a CONDO CONVERSION 7 Story Evelator Bldg 33 Units 2, 3, &4 Bedrooms 50% Complete Lefferts Blvd. $4,950,000

For a preview of this unit or to discuss the wide range of our exclusives in our inventory.... Call Now.


Billy Briggs
Licensed Real Estate Salesperson
Prudential Douglas Elliman RE
1995 Broadway New York, NY 10023
(646) 312-9873 (cell)
http://twitter.com/BillyBriggsDE
0 votes
Lori Winick, , New York, NY
Wed Oct 19, 2011
Please look at my listing (link below). this is 2 bedroom un UWS in Manhattan. Very good investment property with very low monthlies. Pictures will be up later this week. I believe it could be rented for approc $3000/month. Maybe a little more. With 4.5% mortgage you'd have to put down a bit more than 20% to break even on the rent.

http://www.halstead.com/sale/ny/manhattan/upper-west-side/20…
0 votes
Annette Levi…, , New York, NY
Tue Oct 18, 2011
You cannot look at coops (like Tudor City) since investment coop loans no longer exist.
0 votes
Don Tepper, Agent, Burke, VA
Tue Oct 18, 2011
I'm not licensed in New York, nor am I an expert in the area. However, in general, you're setting your sights too low. If you're putting 20% down, don't settle for a neutral cash flow. That's 0% return on your investment. It's true that there might be appreciation, but you can't depend on that. No one's going to guarantee the property will appreciate, or even retain its current value.

If, for instance, you found something for $500,000, then 20% down would require an upfront downpayment of $100,000. With a neutral cash flow, you're getting 0% on your $100,000 investment. Might as well put your money in your mattress (or a mattress in New York, if you're facing currency fluctuations).

Besides, it's difficult to calculate all the costs upfront. It'd be pretty easy to assume a neutral cash flow, then find out that it's actually costing you $100-$200 a month or more.

Be more assertive. Demand a good positive cash flow. Don't settle for a minimal or nonexistant cash flow.

Hope that helps.
0 votes
Fern Hammond, Agent, New York, NY
Tue Oct 18, 2011
Please look at apt. 1B at 1175 york - it can be made into a 2 bedroom apt. and rented for around $3800.
0 votes
Elena Ravich,…, Agent, New York City, NY
Tue Oct 18, 2011
Are you looking for residential properties only or multi-family, as well? We have some commercial properties in Brooklyn.
0 votes
Buyer22, Home Buyer, New York, NY
Mon Oct 17, 2011
Rather than me phone all of you, which is difficult as I'm overseas at the moment, can you please send me real examples with financials to the following email address...

letsrumble22@yahoo.com

I will then go through these and come back to you. I should have also stated that I want to keep the mortgage down to 15 years, so given this fact I am open to some minor cash flow losses on an annual basis. Please send me whatever you think fits the above.
Thanks
0 votes
Leisa Aras, , New York, NY
Mon Oct 17, 2011
I work with many investors. Happy to show you inventory with neutral and positive cash flow. My cell is 917 921 3758
0 votes
Ann Deane, Agent, NY,
Mon Oct 17, 2011
Hi: I have two investment properties going on the market within the week in Tudor City both with tenants in place. Please feel free to call me to discuss the possibilities. Thank you, Ann Deane, Bond New York 917-301-2157
0 votes
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