I am intesrestingin purchasing a 5 family building with a store front in Long Island City, NY. Everyone is telling me now is not the right time. What do you think? This building is for investment and the rent roll for each apt is $1500-$1800 a month. Long Island City has been an up and coming neighborhood in Queens for the past couple of years. I
2007-01-29 02:55:41 · 4 answers · asked by The Man 1 in Business & Finance ➔ Renting & Real Estate
It is a great time to buy....
Make sure you have 20% down, and know that you will have a tax, and insurance payments....
Good luck
2007-01-29 03:10:23 · answer #1 · answered by James 3 · 0⤊ 0⤋
It is a good time to buy. Rates are still low and we are in a buyer's market, so you have some negotiating leverage.
2007-01-29 11:42:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In our area prices are low- it is a buyers market.
2007-01-29 11:34:00 · answer #3 · answered by live75 3 · 0⤊ 0⤋
Interest rates are probably not getting any lower, buy, buy, buy before it is too late!!!!!!!!!!!!!
2007-01-29 12:55:56 · answer #4 · answered by Paul V 6 · 0⤊ 0⤋