$200k condo?

Asked by Ana, Brooklyn, OH Wed Apr 2, 2008

hi,
my brother just got an inheritance and wants to invest in a condo in new york, preferably brooklyn. he is living in europe. he asked me to help him find the right property. he is $200k in his hands. he wants a condo as he feels it would let him rent it easier. where should I look into?i was thinking of looking into brooklyn or maybe even jersey city as I see the rent has a good return there. any suggestions? any website?
how about foreclosures?
let me know, he received his inheritance last month and he is eager to invest.

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Larry Story, Agent, Greensboro, NC
Wed Apr 2, 2008
Ana,
The one thing I would say is slow him down. You do not want to make a rushed decision because he has 200K burning a hole in his pocket. I would interview several realtors to decide on the best one for your needs. Just take some time and do the research to see where the desirable locales are.

If you do need a referral I can hlep with that. Just feel comfortable with whatever you decide to do.

Larry Story
Coldwell Banker Triad
larry.story@coldwellbanker.com
0 votes
Gail Gladsto…, Agent, 11743, NY
Wed Apr 2, 2008
Get a Realtor to represent you as a buyer's broker in the various areas that interest you.

If you are investing in foreclosures, you should know everything there is about that market before going near it...you could easily get burned.
Web Reference:  http://GailGladstone.com
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more