All Forum Posts by: Steven Greenhill

I still think Brooklyn is going to continue to push outwards and outwards. Bed Stuy, you couldn't have made a better investment for 3 years! Wow! That was the hottest area. I think now either Sunnyside or East New York you should do your project. Sunnyside has that new 30,000 sq ft WeWork going up... it's supposed to get very hot there.

I just saw your comment regarding Brownsville. Yes, I've heard that too. But I still think East New York is a little better

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ur an investor, NO EMOTIONS.. BUSINESS. remember?

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my parents bought in Laguna Beach in 2006, its still worth 1/2 today for what they paid... they just don't want to sell it and lose that much $$$

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if u think its going down and for whatever situation u have to move before it goes up, how pissed would u be that u didn't sell it? what if god forbid, it was underwater and u owed the bank money?

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home = invetment; imagine someone came up to you and say dill give u 50 million to move out tomorrow.... would u take it?? uhh yes... at the top of the market, sell, get a comparable house... as an an agent, were comping properties ALL the time, no matter how special one thinks their apartment is, we can always comp it... even if i see a $60 million apartment...

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Sherry, i think co-ops ae doing so terrible right now that people get it for space but don't expect to make money on it. also, cap rates are SOOOO low on rentals.... not worth it.

Originally posted by @Hanna Edwards:

Hi Sherry,

I am a real estate broker here in NYC. Currently the market continues to push higher unevenly, but the sense is that we might be nearing a top or slow down. Depending on the size of your co-op, there may not be much more appreciation for you there. So, I don't think it's a good reason to hold on.

Do you think you may move back to NYC in the next 3 years? If the answer is yes, and you anticipate that the unit could still fit your needs, then that might be a reason to hang on to it and rent for another year.

On the other hand, you mention the unit is just paying for itself, except that you have had assessments that make it a cash suck. How much longer is that going to go on? Do you foresee more assessments in the near future? If so, I would call that a strong reason to sell.

You didn't mention which part of California you are in, either, or how much you think you'd get from the sale (50% of what, exactly?). If you're in San Francisco and you anticipate getting $100K from the sale, maybe it doesn't make sense. If you're in Fresno (or other more suburban/rural area in CA) and you anticipate the same or more, then I think it would make tremendous sense to invest in a multiunit that may cash flow for you.

Hope that helps.

Hanna

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New York City, New York

i can help u message me

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New York City, New York

All Forum Posts by: Steven Greenhill

Steven Greenhill has started 4 posts and replied 61 times.

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Post: Did you ever sell your primary residence to get more income?

Post: Did you ever sell your primary residence to get more income?

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