Should I buy a co-op apartment in Queens now or wait ?
I found a co-op in Woodhaven, NY (Boro of Queens by Forest Park) — it is a 2 bedroom for 145,000 with a monthly maint. of 566 and flip tax of 18,000 upon selling in the future. The place is in ok condition- kitchen needs to be redone and paint walls, polish floors.
I don’t know if I should follow through though because I keep hearing that real estate prices will still be coming down for at least a good year – so should I wait?
What is the outlook for NYC-Queens Co-ops….
That sounds like a good deal. The market is unpredictable right now; New York City is one of the few places where real estate prices have been continuing to go up, because demand for space is so high, but the news today said that there have been a lot of foreclosures, many more in the past year than there were last year, so that might change. I say go for it; if prices come down, it probably won’t be by a lot.
Flipping Real Estate in New York
|
|
Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits $15.64 Multi-Family Millions offers expert advice for investors who want to make the transition from single-family homes to more profitable multi-family units. Successful real estate investor David Lindahl shows you how to find troubled properties that are ripe for quick profits, how to fix or flip those properties, and how to re-sell at maximum value. With a proven step-by-step system for managing each … |
Tags: housing, maps, realestate, rehab, web2.0
