Areas to invest in Brooklyn for SFH rentals

Investor · Astoria Queens, NY · Member since 2016 · 41 posts · 12 votes

Now that Amazon is moving into LIC, what areas in Brooklyn you think are primed for growth? Are there still areas where SFH rentals can be bought for under 350-400k?

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Simon W.Business Member

Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 695 votes

I highly doubt it. Even a remote area is around $700k in BK.

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Simon W.Business Member
Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 695 votes
7y
I highly doubt it. Even a remote area is around $700k in BK.
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Will Bert
Brooklyn, NY · Member since 2015 · 127 posts · 21 votes
7y
I have not seen anything in the worst area's of the city not even in the Bronx....
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Ankan Basak
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Investor · Astoria Queens, NY · Member since 2016 · 41 posts · 12 votes
7y
@Simon W. Where are you seeing most action in brooklyn/queens area, if you ever do business there? Are ppl still buying up rentals even at that price range of $700k up?
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 4k+ votes
7y
@Ankan Basak

I doubt you will find an area in Brooklyn to purchase a SFH for $350,000 - $400,000.

You are likely a couple years too late.
A rental at $700,000 will not cash-flow. If you are buying a property at that price; you are anticipating the property value to increase.
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Simon W.Business Member
Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 695 votes
7y
Ankan, it really depends on what you want to focus on your investing method. Are you looking for appreciation value or cash flow or ROI?
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Jamal Davison
New York City, NY · Member since 2015 · 33 posts · 6 votes
7y
Being from Nyc, useless you can catch a foreclosure .. I haven't seen those prices for a SFH for awhile. The South East Bronx....might have that.
Dont know if they are going adjust the ferry from Soundview to ever go to Queens but check it out
https://www.ferry.nyc/routes-and-schedules/route/soundview/
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