Hi! I'd like to move into a two family home (3 bdrm & 2 bed) in Pelham...my husband and I would rent one floor and another working couple

Asked by Shaylee Perez, New York, NY Thu Jan 12, 2012

we're friends with would rent the other. We'd like to be in Pelham Bay and are on a tight budget..can anyone help?

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Tue Aug 20, 2013
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes
Mildred Vale…, Agent, Bronx, NY
Sun Jun 17, 2012
Call me our office has a huge rental department,located in the heart of Throgs Neck. I get rentals on a daily basis. Contact me directly at 646-957-4648.

Hope to hear from you soon!

Millie Valentin
Exit Realty Search
3928 E. Tremont Avenue
Bronx, NY 10465
0 votes
Mildred Vale…, Agent, Bronx, NY
Thu Feb 23, 2012
I have a lovely 3 bedroom duplex rental in Pelham Bay.

Call me for details at 646-957-4648.

Millie Valentin
0 votes
sales 3611 , Agent, Parsippany, NJ
Fri Jan 20, 2012
Hey Shaylee,

This would be a great opportunity for you to purchase a multi family and be able to add the rent to your future mortgage payment
I would love the chance to go over your options, for now or evan in the future. my phone number 516.233.4842

Yours kindly
Vincent Aiossa
mortgage loan officer
nmls 124292
0 votes
Mildred Vale…, Agent, Bronx, NY
Thu Jan 19, 2012

Just wanted to let you know in case your options change, we Just listed some New Construction condos at 3030 Middletown Road, we have 3 bedrooms with 2 baths.

If you would like a private showing call me directly at 646-957-4648.

Millie Valentin
Certified Buyers Representative
RE/MAX Voyage
1930 Williamsbridge Road, 2nd Flr
Bronx, NY 10461
0 votes
Mildred Vale…, Agent, Bronx, NY
Thu Jan 19, 2012

Are you looking to rent or Buy? I have some great homes in Pelham and I also have some rentals.

Please feel free to view my web-site and call me with any questions at 646-957-4648.

Best of luck,

Millie Valentin,
Certified Buyers Agent
RE/MAX Voyage
1930 Williamsbridge Road, 2nd flr
Bronx, NY 10461
0 votes
Joseph Cosen…, Agent, Bronx, NY
Sat Jan 14, 2012
Please contact me or view the web site for any listings that you would like to visit.

We will need more information to start the search.

Thank you,
Joseph Cosentino
O: 718-881-1923
C: 914-557-3592
Web Reference:  http://www.jcosentino.com
0 votes
santo Minyety, Agent, bronx, NY
Thu Jan 12, 2012
Yes Would be A pleasure to help you Please feel free to cotactme back.(917) 837-6072.thanks,santo minyety,
with Ra/max voyage Real Estate.
0 votes
Michael Levy, Agent, Armonk, NY
Thu Jan 12, 2012
Hi Shaylee: I can definitely help you find something in this neighborhood. My specialty is analyzing this entire segment & helping you understand the values & finding the very best deal. Please call me at 914-273-9688 so that we can further discuss your search. I look forward to speaking with you soon. Have a great day. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. BTW, we're looking for more agents & offer a 70% commission split with no fees. If you know anybody who might be interested, I'll pay you up to $1,000 each for your agent recruits.
0 votes
William Spio…, , Bronx, NY
Thu Jan 12, 2012
I know of a home in Pelham Gardens 2 Family listed for $ 438,000, walking distance to the # 5 Train. I you wish to see it let me know.

Bill Spiotta

Ecor Realty

718 812-1110
0 votes
Valerie D'Am…, Agent, New York, NY
Thu Jan 12, 2012
What is your budget? Give me a call. Pelham Bay is my specialty.

Valerie Reyes
Exit Realty Search
Web Reference:  http://www.thebronxmls.com
0 votes
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