We do not live in the US, looking for investment properties in NYC. How do we find a reliable agent with the skills to select a rent-able investment?

Asked by Peter, Harlem, New York, NY Sun Oct 17, 2010

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Dominic Paolillo’s answer
Dominic Paol…, Agent, New York, NY
Mon Nov 29, 2010
I am working with 2 buyers right now looking for investment.
Please call me.
Dominic Paolillo 
Sales Associate 
Brown Harris Stevens, LLC 
Exclusive Affiliate of Christie's Great Estates 
445 Park Avenue
11th Floor
New York, NY 10022 
O: 212 906 9307 
C: 212 767 9312 
F: 212 319 3601 
dpaolillo@bhsusa.com
 
0 votes
William Mcbu…, Agent, NY,
Mon Nov 29, 2010
Peter, did you find an agent yet? I see quite a few opportunities in different parts of Harlem, especially East Harlem where I have sold eight new condo units in the past 2-3 years. But right now I have something even more rentable: a studio apartment on the Upper East Side (Lenox Hill neighborhood) that has an attractive ROI potential. It rents for $1400 per month or more, and the building maintenance and sublet fee is only $529. On a purchase price of 250K, the yield is 4% per annum. There is a good chance to do better also. The area is dense with young single people who favor small apartments, because they mostly eat out until they find someone to marry. During the last Open House, I ran into a least a dozen renters, most female, coming and going in the area and four of them who live in the building. Easy to rent and re-rent. If so, please have your agent contact me; if not, please contact me directly. Thanks.
William J McBurney Jr - 212 769 6526 - Prudential Douglas Elliman - wmcburney@elliman.com
Web Reference:  http://www.elliman.com/wjm
0 votes
Zhann Jochin…, , New York, NY
Mon Nov 1, 2010
First thing you should do is begin looking for a broker who services the area you are looking to purchase in, a broker who specializes in a specific area will generally have the best idea of what properties are worth and be able to compare apples to apples. There is no sense in using a broker who works primarily downtown, say in Chelsea, who rarely even ventures to Harlem where you are looking to purchase. The next thing you want to do is go to their company's website and see their current and previous transactions, if they have a physical store front swing by their office or at least call the broker or a couple of their agents and get a feel for them on the phone. You can ask them to provide references too.

I specialize mainly in the UWS and even though its close to Harlem I still don't have the best knowledge of the area and its best investment potentials. What I do know well is other brokers who work and specialize in Harlem; Klara Madlin Owner and Principal Broker of Klara Madlin Real Estate (who already commented below) is an excellent choice and has years of experience in Harlem, and Robb Pair Owner and Principal Broker of Harlem Lofts, his firm IS Harlem and has extensive knowledge and experience in the area.

Robb Pair
Harlem Lofts
http://www.harlemlofts.com/
212.280.8866 x104
robb@harlemlofts.com

Klara Madlin
Klara Madlin Real Estate
http://www.klaramadlin.com
klaramadlin@yahoo.com
212-580-3180 ext: 200

You could certainly start with either of those, they or one of their agents will be able to help you find what you're looking for.

Good Luck.


Zhann K. Jochinke
Associate Broker - Argo Residential
Vice President - Manhattan MLS, Inc
Director - Manhattan Association of Realtors

(212) 896-8638 | zhannj@argo.com
0 votes
Marilyn Maye…, Agent, New York, NY
Thu Oct 21, 2010
Hello Peter,

You will want to work with a broker who can explain the different properties available for you to purchase, the buying process of NYC real estate and all of the pertinent facts you need to make an educated decision on your purchase.

I would be happy to go into greater detail if you give me your criteria.

Regards,

Marilyn Mayers
Lic. Assoc. R.E. Broker, Sr. VP
Producers Council, Gold Circle
Halstead Property, LLC
1356 Third Avenue |New York, NY 10075 |Tel: (212) 381-3211 |Cell: (917) 805-3358 | Direct Fax: (646) 775-3211
mmayers@halstead.com
0 votes
Dennis Ellis…, , New York, NY
Mon Oct 18, 2010
Peter:

The suggestions of my colleagues are fine. If I were to assist you, I would be asking you a lot of questions about your investment experience, your travel plans and other issues related to such a purchase. There is chemistry in an agent/client relationship. See my resume, perhaps I'm your man in New York.
0 votes
Connie Guo, Agent, New York, NY
Mon Oct 18, 2010
Hi Peter,

I believe there are lot of agents can help you. However, agent with extended investing knowledge will be better help and bring you higher return. I'm specific in helping foreign buyer/investor buy investment properties here. From condo units to apt buildings and other commerical properties. Our term include mortgage broker, accountant, attorney, property manager will help you with anything you need for your investment. Btw, we have 3 buildings in Harlem for sale now. Pls contact me if interested.

Connie Guo
917-652-6638
connieguo888@gmail.com
0 votes
Tom Priester, Agent, Tequesta, FL
Mon Oct 18, 2010
Peter,

The very best thing that you can do is find a professional Realtor@ to represent you and help clearly identify your goals and to be able to show you projected returns on invenstment. The right agent will go a long ways towards your success in fully understanding the area and ensuring you find the right properties to meet your needs and negotiating the best pricing and terms. A couple things I would tell you is to NOT sign a buyer's broker agreement with anyone. This is a form an agent will use to tie you up and ensure any transaction you make will only be through them. Find an agent who is happy to perform their services with the knowledge that if they do not properly meet your expectations they will lose your business.

Second, NEVER call a listing agent about a property they have listed as their initial relationship with the seller will prevent you from working out the best deal.

Finally, I would recommend that you interview at least three qualified agents to assist you and select one who you feel will have your best interests as their primary goal. If you would like I can recommend agents in New York City and help you along your path to finding the perfect properties. It is a great time to buy so please let me know if I can be of any help.

Not know your investment goals you also might want to take a look into the southern Florida market. Here in Palm Beach County there are tremendous opportunities, especially in the $50,000 to $125,000 condominium market where you can get some tremendous returns. If you would like to see the projected numbers on these type of deals please feel free to contact me at your convenience.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference:  http://www.tompriester.com
0 votes
Florence Som…, , New York, NY
Mon Oct 18, 2010
My name is Florence Sommer. I am a real estate broker in Manhattan at the Corcoran Group.
I would be happy to speak with you and discuss what you are looking for in an investment property.
Check out my website...

http://www.corcoran.com/agents/listings.aspx?region=NYC&…

Please feel free to call me at 917-846-2572 or email me at fsommer@corcoran.com

Below is the link to reference letters
0 votes
Klara Madlin, Agent, NY,
Mon Oct 18, 2010
I have been in business since 1984. I and my firm have handled many sales and investment rentals for for foreign buyers I would be happy to assist you in your search


klara madlin
klara madlin real estate, inc
212-580-3180 x 200
klaramadlin@yahoo.com
Web Reference:  http://www.klaramadlin.com
0 votes
Astrid Pillay, , New York, NY
Mon Oct 18, 2010
I have a building occupied by doctors with incredible rent roll, and 2 condo units rented which are perfectly suitable for investors. Call me for details (212)381-2262.
Astrid Pillay SVP
0 votes
Dominic Paol…, Agent, New York, NY
Mon Oct 18, 2010
Peter, I am a real estate agent in NYC and have helped buyers many times find investment properties. I work in a company with an exclusive affiliation with Christies Great Estates which seivices one of the largest networks or relocation buyers and renters. Where are you located outside of the US? Would you be coming to New York to view the properties in the next few months? I would be happy to help.
Please contact me at your convenience.

Regards

Dominic

Dominic Paolillo 
Sales Associate 
Brown Harris Stevens, LLC 
Exclusive Affiliate of Christie's Great Estates 
445 Park Avenue
11th Floor
New York, NY 10022 
O: 212 906 9307 
C: 212 767 9312 
F: 212 319 3601 
dpaolillo@bhsusa.com
0 votes
Fern Hamberg…, Agent, New York, NY
Sun Oct 17, 2010
Hello Peter,

I help investors both nationally and internationally. I am from citi-habitats relocation and I am a hybrid agent i.e. I help my buyers purchase the property and help them rented it whether it is residential or commercial or mixed use. In order for you to purchase an investment property in the US you have to make sure you have a plan and that you are qualified financially. If you would like to start the conversation, please feel free to contact me. I will be able to help you put a plan of action together. Are you in Harlem right now?
Kindest Regards
Fern and Michael Hamberger
citi-habitats
fhamberger@citi-habitats.com
646-660-0060
0 votes
David Bess, , Upper West Side, New York, NY
Sun Oct 17, 2010
Peter,
We have both rentable and rented multi-unit properties in NYC. Contact me to discuss.

Best,

David Bess
HALSTEAD Property
Investment Sales
212.381.2631
Dbess@halstead.com
0 votes
Eisenberg Sc…, Other Pro, New York, NY
Sun Oct 17, 2010
Hi, I would be happy to discuss the details with you now if you like. Please call me at 917 306 6618. I am available via skype now or anytime hereafter if you like.
0 votes
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