All Forum Posts by: Brandon Cohen

@Josh Shapira BedStuy is certainly a hot neighborhood and flush with investors. 

Hey @Jon G. personally I would look to pay down the high interest loan on the $100k.  Rates are great so if you can get a good buy on a house you can be in a good position to move your cash from a sale into a nice downpayment so you don't have a big loan payment each month.  The downtown market is beyond hot right now so I think it's best to take advantage.  If you're looking to rent it, unless it's giving you positive cash flow each month, you're just adding to your debt.  

I talk about this day in/out with clients, happy to chat further if you'd like, and give rental comps.  Email is in my signature. 

Brandon

Agreed with all, @Dennis Y. if your purpose of purchase is strictly for investment, stick to condos and be sure your agent and attorney do their due diligence on the building.  Even some condos have sublet policies in place.  

@Calvin Kwock I can certainly give you some great real estate attorneys.  Send me a message or preferably an email!

Of course that happens, not everyone is good at everything!  I bring value to real estate deals for myself and my clients.  Though if I were to throw money into the stock market, I'd hire a pro...same reason my clients hire me for real estate transactions.  

@Charles Worth Yup, that certainly happens too!  Though in most cases, the people paying the crazy prices here in NYC didn't come into their money by making foolish financial decisions.  

@Charles Worth

 @Okeoma M.

That's not always the case, however it does happen often.  Many investors purchase their investment properties because NYC is a safe haven for their money, and yes also because of appreciation.  Those investors who are savvy and risky enough can sometimes have it all and get positive cash flow each month.  

@Noam Ofan if you don't have a copy the management company for your building should have a copy.  They may charge you for it but tell them you weren't given one at your closing!

Hi @Noam Ofan it typically goes off of the amount of shares.  It varies from building to building, however.  Sometimes it also will depend on the floor of the apartment; for example the same exact apartment on the ground floor will pay less than the top floor.  The attorney who represented you on your purchase should have realized this during his/her due diligence.  Have a look at the offering plan for the building (should have received a copy when purchased), and have a look at your apartment vs others in the building on a share and maintenance basis.  Good luck!

Sure do!  Email me at [email protected]