All Forum Posts by: Daniel Maciag

 Alright, following that logic, how am I supposed to find those discount deals on Multi Family properties in NYC. Properties in SF and Seattle are tanking as we speak, but sellers are just taking their houses off the market, leaving supply low.

Should I give up and just buy whatever the asking price is and let it eat half my income?

10% down conventional mortgage. @Ceasar Rosas

Hi,

Is it possible to buy a ~1200 to ~1300 small Single Family house in NYC and convert to Legal 2 Family? Zoning permits it and I have significantly unused FAR ( I can have 1900 SQ).

I have two options, get permit and build another 600 sqft and convert to standard 2 family, but I was also thinking about converting it to a Legal Studio on flr 2. and legal duplex in flr1. and basement.

Has anyone done this and does anyone know if this is possible? I understand that the studio will be very small, about 500-700 SQFT.

I am looking for a small 2 Family house in Kingsbridge. I see a lot of shortsales in this area and am wondering if anyone want's to sell their 2 unit. I am looking for market value price and am not looking for anything that has been renovated to bump the price. I can do TLC so as long the house has gas electric water and a roof.

Thank you.

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Do you guys think the federal rate hikes will drop the asking prices of residential 1fam/2fam housing in NYC? I see it happening in SF and Seattle, but what is happening in NYC is so strange....

I see many houses on market for 200 days + and no one is buying them. Realtors keep advertising something along the lines of "Location Location Location WONT LAST INVESTORS DREAM", but this isn't selling.

Some of them make me giggle a bit by offering a 10k discount off a 1 mil price as if that is going to do anything. The way I see it, some gridlock here. Properties are on the market for too high asking prices and buyers are not buying. I don't know what happens in this case, but do you guys predict a correction to the housing market in NYC? I personally don't think there will be too much damage, but am wondering what you guys think. I am only talking about 1fam/2fam residential, by the way.