I have some money and I want to invest in real estate. I was thinking of buying a 3 family building To rent it for a while) or 2 or 3 condos in different new development in queens- long island city area. I also heard about foreclosures but I don't know where to start.
2007-08-25 12:05:58 · 2 answers · asked by dragos31 1 in Business & Finance ➔ Renting & Real Estate
You don't start at yahoo answers. I doubt anyone here has any type of experience to give you a valid answer. I am sure there are a lot of places there that would help you. There sure are building associations that do exactly what you are looking to do. Do a couple of searches on the internet and see what you get. If you just stay here I am sure you will even get mortgage offers to scam your money.pp
2007-08-25 12:21:50 · answer #1 · answered by ttpawpaw 7 · 1⤊ 0⤋
New condos are always worth more new than used, so I'd go with the 3 family building.
Remember with foreclosures there is always the redemption period, which is up to 24 months, where the person can show up with the money and take the property back, so don't put improvements in until that's completed.
2007-08-25 19:34:20 · answer #2 · answered by Anonymous · 1⤊ 0⤋