Just areas with some spanish gang activity you gotta watch out for.

Hello,Please provide your thoughts and advice on matter of rent versus buy based on my special case.I am 33 yrs old and live in a rent stabilized apartment at Spanish Harlem, New York.

Since it was so close to property management, I saw the synergies that would allow me to build my own investment portfolio while at the same time creating a "job" to pay my bills.Looking back, because I recognized warning signs early and at the right time, I was able to adjust my "deal" into a very lucrative investment.

I have a similar 1926 Spanish bungalow in LA (3bed 2 bath, 1300sqft, single level), that i just rebuilt completely, so here's my 2 cents1. with plumbing and sewer, make sure that you insect and assess the main drain line form house to street sewer - in houses of that age, they are cast iron and are often buried under a concrete driveway. if it needs to be replaced, make sure re-pavement of driveway is accounted for2. houses of that age have often started as 2bed 1bath and then somewhere along the way been converted to say 3/2 - mine was in the 70's. ask whoever inspecting the foundation to pay attention to the way it's laid out - variation in crawl-space hight, floor joists and different materials used for pillars that house sits on could point to an addition. flat roof over one of the bedrooms or bathrooms in an otherwise house with an attic is another sign it's been added. either way, check with the city that those additions are legal/permitted3. termite damage and dry rot in California and Arizona is a given - in any house, especially that old. as you walk around the rooms, stop in each corner of every room and jump up a few times - if the floor is soft and even a sign of weakness, i bet you you'll have to re-drywall, remove subfloor and repair floor joists in at lest half of that room. just a simple "poking wood for termites" test from the crawl space often misses that. i like my jumping test as well5. size and age of electrical panel - yes, but also age of main electrical wire runs is important. those are usually suspended in crawl spaces or laying on top of ceiling joists in the attic. old wire should be replaced as it's a potential fire-hazard surrounded by all the old fluffy insulation that's in old attics - speaking of fluffy insulation, i hear in some cases it could contain asbestos, so wouldn't hurt to checkfyi, just installed central air in my house and my best estimate - had 7 total - came through Costco at just under $7000 for a 3-ton Lennox system (heat and cool), all new ductwork, permit and inspections. curious as to what your HVAC bid was

I look forward to networking with you all and am always looking to create synergy with like minded individuals!

Spanish speaking preferred. 

-I'm Spanish, been working here as an artist for a studio for years and considering going back home soon, either permanently or for a few years or splitting time between Canada and Spain, from where I could still work from home for the same Studio here.My initial plan was to use the 200k to buy a property in Spain that I could use when I'm there, and use a Property management company to rent it out to tourists (which seems pretty popular these days) when I'm here.I haven't completely axed that idea but the more I read on the topic, coupled with the CAD to EUR rates and the fact that if I decide to stay in Spain for a longer period of time there would be 0 cash flow, the more it sounds like a rather bad investment, for what I want anyway.So plan B, which is currently plan A, would be to buy some property here in Canada that I just rent out, regardless of where I am and either have my savvy best friend look over it/them (hope she won't read this before I ask her if it comes to it) or have a property management company do it.In a perfect world I would use the 200k to generate around 20k each year, which is all I would need to live comfortably in Spain if I wasn't able to work at all... which is the very worst case scenario I like to plan for.

While the word "Competitor" was used in the original post and many others following it, I don't look at it as creating competitors, I look at it as creating partnerships, synergies, and contacts.

As a single white 130 pound 5ft 1inche female who can't speak spanish and sticks out like a sore thumb.

I wonder if you know of any other Spanish speaking investors in your area you can talk with to get advice?