Which neighborhood I should be investing if.....

Asked by Bill, Bay Ridge & Fort Hamilton, Brooklyn, NY Sat Aug 18, 2007

I'm currently looking for an investment property around 350K, preferably condo?

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9
Brandie, , San Francisco Bay Area
Sun Sep 23, 2007
The investment market has never been better. But sometimes the best markets aren't in your backyard. If you're open to investing out of state, this may be of help.

While there are no guarantees in investing, the best way to anticipate the viability and potential of a market is to have solid, empirically sound data and research.

While employment drives population growth, it’s the intangibles that keep people in a particular neighborhood. So, in addition to market economics, the intangibles that make a community a highly-desirable place to live for a variety of demographic groups must be taken into consideration.

To thoroughly understand a market’s potential takes time and expertise. There are a number of factors to be considered to determine the future economic viability of a market, including:
• The natural path of growth within the metro
• The presence of large, sound, industry-diverse corporations
• Future plans for additional corporate entities
• Availability of State and Local government jobs
• The presence of cultural activities – music, art and nightlife
• Leisure interest and recreational activities, such as golf, hiking and athletics
• The development of retail outlets and restaurants
• The quality of local school systems
And beyond the market it's important to understand neighborhoods to know which will flourish and the type of homes that will appreciate.

We recognize a few markets based on their unique fundamentals: Austin, Atlanta, Albequerque, Portland and Raleigh.

Hope that helps.
1 vote
Jim Winters, Agent, Brooklyn, NY
Thu Sep 6, 2007
Hi Bill, consider looking in the Ditmas Park area or the Crown Heights area. Both neighborhoods provide more square footage for your dollar spent.
Web Reference:  http://www.fromthestoop.com
1 vote
Irina Netcha…, Agent, San Marino, CA
Sat Aug 18, 2007
Bill, which state and city are you in?
1 vote
Caesar Galin…, , Staten Island, NY
Fri Mar 7, 2008
Give me a call at (718) 698-2179 at Prosperity Real Estate Group, We are on Richmond ave as well, I can help you answer any questions you may have, this is not commitment to come with us. YOu can call and inquire about this even if you are already working with someone. Buying a properity is a constitutional right, and we are here to make sure you are not provided with erroneous information. We welcome this questions because it allows us to do research for you and ourselves which we can share with others.

My Name is Caesar Galindo Office manager, and Law Student at CUNY Law School.
Web Reference:  http://www.ProsperityREG.com
0 votes
Sherry Rivera, , New York, NY
Mon Feb 25, 2008
I am from NY as well as you and the market in your area is holding up. I am very familiar with Brooklyn and it is still doing quite well in most areas. What area were you thinking of?
0 votes
Bill, Home Buyer, Bay Ridge & Fort Hamilton, Brooklyn, NY
Sun Aug 19, 2007
I'm currently living in Bay Ridge, Brooklyn. I'm interesting investing a rental property, specifically condo, for approx 350K. I would like to know which neigborhood would be best for this type of investment within my price range. Thanks.
0 votes
J Lo, Home Buyer, California Glory, Brentwood, CA
Sun Aug 19, 2007
Hi Bill:
Are you investing for rental property or will you be making it your primary residence? What neighborhood do you live in now? We cant answer the rest of your question because we don't know where you are.

Give us some more info - and a local trulia agent will surely chime in and give you some great advice.
0 votes
Pam Winterba…, Agent, Danville, VA
Sat Aug 18, 2007
Where are you considering investing? Remember it is always location, location, location.
Web Reference:  http://pamwinterbauer.com
0 votes
The Hagley G…, Agent, Pleasanton, CA
Sat Aug 18, 2007
It's a great time to be investing in real estate - no matter where you are located. You may want to do some research on the rental market where you are plqnning to invest.....will you be able to cover your mortgage/taxes/insurance with a renter? If not, can you afford the monthly deficit?
Web Reference:  http://www.cindihagley.com
0 votes
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