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Updated over 7 years ago,

User Stats

81
Posts
12
Votes
Julie Verardi
  • Buy & hold real estate investor. Designer & animator.
  • Jersey City, NJ
12
Votes |
81
Posts

How rare are condos in the West village NYC?

Julie Verardi
  • Buy & hold real estate investor. Designer & animator.
  • Jersey City, NJ
Posted

I have recently done a refinance. My plan was to do two other investment properties in Jersey City or maybe 1 investment  and 1 for me to live. I need to live in NYC. I do not want to do a co-op. I want to do a condo in downtown area. I love the west village and a condo came on the market. However in order to make it work I would have to use all my refinance and on top of it it's a 5 floor walk up with no washer dryer. I'm only considering buying it because a condo in the west village is unheard of and the agent has really been working with me on the price. However I'm hesitant because I wouldn't be making money. It would pay for itself if I rented it out. I guess it comes down to no cash flow for a substantial down payment Vs owning a part of the neighborhood I love. I guess in the process of writing this I figured let me increase my income by investing and hope another condo in a desirable neighborhood comes on the market that isn't a 5 floor walk up and has a washer dryer. Curious to hear anyones thoughts? I'm nervous I'm missing out on a deal. Also NYC is its own special kind of beast for anyone to really understand. 

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