Good luck buying!

Depending how much of the neighborhood is a hot zone for renting rather buying, and which Property type is performing better than the other (meaning 1bd 1ba 2 floor renting out faster and much more consistently than a 2bd 1ba 1 floor), you can make your choice of those factors as well as other ones that impact your decision for what you wanna do with your investment.

As someone new to NYC, I'd appreciate insights on:The current state of the UES market in this price rangeWhether buying makes financial sense for a 3-year timeline versus rentingThe pros and cons of co-ops versus condos in the neighborhoodI'm particularly interested in hearing from those with experience in the area, as I'm looking to make an informed decision.

Any investor or developer buy raw land lot (zoning code G) and go through the process with the city to convert to commercial use?

Investment Info:Other buy & hold investment.

Purchase price: $140,000 Cash invested: $24,000 Sale price: $220,000 I knew from the start that I was going to buy this property.

If your market is buying at that number then thats perfect but thats not the case here.

I had a chat with them on the phone as i was curious about the funding.. but came to the conclusion that the down payment ( the client made to buy) was probably what they paid for the property and the seller carry back note was the profit.. and then the seller carry back note is sold to yet another investor.. who is investing for coupon money.   

I know a broker who spends like 20k - 30k per year in buying leads, paying for blast emails, buying lists of names of investors, etc.I like to meet people on the personal level first, I feel like people are way more responsive if at first I help them by answering questions, or offering advice, provide them with incite, etc.Most people do not know what they are getting into in those first deals, which is why we hear so many nightmare stories. 

Make an insurance claim and buy all new stuff.