Bronx MFH/Quad Prices

[Shane Austrie]

I'm planning to invest in the Bronx within the next few months. For me, this will be my first property, so I plan to utilize housing hacking + FHA/FHA 203k. I'm interested in hearing the general price ranges people have seen recently for quadruplexes in the Bronx, especially the price comparison when it comes to foreclosures vs turn-key quads.

[George Hermann]

Hi Shane, I agree with James Perdomo that four family properties are more rare and are on the radar of experienced investors, many with cash offers. I think you will find more opportunities with two and three family houses. 

At this time, contractors are not working in New York. They are considered phase 1 workers and will be allowed back to work on June 7th with a lot of restrictions due to Caronavirus. If you're planning to buy properties that need work, it will cost more and take longer than it did a few months ago.You should factor this into your costs when reviewing opportunities to purchase.

Good luck!