is it bad time now to buy investment property in NYC ?

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is it bad time now to buy investment property in NYC ?

condo conversion, nice neighborhood, price -410K, rent-$1800-$1900.

2007-03-27 15:31:30 · 3 answers · asked by newcomer 1 in Business & Finance ➔ Renting & Real Estate

3 answers

if u got the$$$$$$$$$$$$ go for it

2007-03-27 15:36:01 · answer #1 · answered by paprica0 3 · 0⤊ 0⤋

A good rule of thumb is to expect a 12-20% return on "at-risk" investments, so $410K is a fair price if you can command a rent of between $4100/month and $6833/month

2007-03-27 15:39:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋

Rule of thumb: rent should be about 1% (per month) of value of property. May a little less than 1% at these low interest rates.

2007-03-27 15:36:45 · answer #3 · answered by Roger C 5 · 0⤊ 0⤋