Real Estate Investment

What type of loan should I take out to do home improvements?

Posted on May 7 by Jan Scheck, Leave a comment

Q: What type of loan (equity line of credit or loan) would be better to take out to pay off credit cards and do minor home improvements on an investment property? Total debt is $87,000 and have 2 credit scores over 710. Read More.

I want to use my current home as an income-producing property, but am having trouble getting a loan. Can you help?

Posted on April 20 by Jan Scheck, Leave a comment

Q: I own a three-family home in Holyoke, Massachusetts, and would like to use it as a rental/income property and purchase a home in a more rural area. Can you help me find a lender who doesn’t see in only black and white? I spoke with a lender who said that they would not consider the rents from all three apartments because it wasn’t on my taxes as such. I tried to explain that I am living in one apartment and my mother in another, so the two apartments weren’t rented out. I have all three apartments rented out–$700, $700, and $850 per month covers ALL the mortgage, taxes and insurance, and leaves me with $950 income at the end of the month. I am so frusterated and any help on such a lender or your professional suggestions would be … Read More.

What store is Elliman opening at 774 Broadway?

Posted on April 3 by Team Elliman, Leave a comment

Q: What store is opening on the corner of Broadway and Wanamaker Place? Read More.

If I live in Australia, can I purchase an NYC apartment to use when I’m in town and rent out the rest of the time?

Posted on March 9 by Dottie Herman, Leave a comment

Q: I live in Australia and want to purchase an apartment in NYC that my family can use when visiting, and that will then become part of a rental pool. What net return can I expect and, being an Australian citizen, can I borrow in the US? Read More.

I own a building on West 84th between Columbus and Amsterdam–how do I develop the property to maximize its value?

Posted on March 8 by Dottie Herman, Leave a comment

Q: I own a 5-story, 19/92 building on West 84th between Columbus and Amsterdam. If I fully renovate the units, what would a unit be worth? I also want to know what layout and room count would make it most valuable. Read More.

I want to make an offer on a Fannie Mae property, but it needs work, so I plan on offering less than they’re asking. What do you think?

Posted on February 28 by Jan Scheck, Leave a comment

Q:  I have an opportunity to purchase a Fannie Mae property that needs work, 75% of which I can do myself. I plan to make an offer of about $40,000 less than they want, because the house not only needs a lot of work, but I won’t be able to sell right away, I will rent. Is there anything I should check out beforehand? I know the house is offered AS IS, so I think I have a chance. Thanks. Read More.

Who I should talk to regarding my brother’s investment as a foreign citizen?

Posted on February 7 by Dottie Herman, Leave a comment

Q:  My brother is a foreign citizen, and has come to know that foreigners will be allowed to invest in housing in the USA if a proposed bill gets passed in senate. I wanted to know who I should talk to regarding this investment; should I talk to a real estate agent or a lawyer in this regard? Thanks. Read More.

How can I prevent my daughter from wasting money on a new car and go forth purchasing as co-owners on an income property?

Posted on January 18 by Team Elliman, Leave a comment

Q:  My daughter is scheduled to finish college this spring. I have $40,000.00 saved that we didn’t use on her tuition. I suggested that we purchase as co-owners an income-producing property. She clearly does not want to either live in and/or assist me in managing the property. However, she does not object to this notion. Question: When she is given the money, how can I avoid her wasting it on a new car and go forth with the co-ownership plan? What’s your advice? Read More.

When will the 4th quarter Hamptons/North Fork highlights be available?

Posted on January 17 by Jonathan Miller, Leave a comment

Q: When will the 4th quarter Hamptons/North Fork highlights be available? Read More.

Our son rents and is now ready to buy. Assuming there’s money for a co-op or condo purchase, which is advisable?

Posted on January 5 by Dottie Herman, Leave a comment

Q: Our son rents in Manhattan and is now ready to buy. Assuming there is money for a co-op purchase or a condo purchase, which is advisable? He is looking at co-ops in the neighborhood he wants to live in. We live in NJ, own our own home and are not in the mindset of sharing in a corporation and have no experience with NY real estate. And yes, we are learning that condos are more expensive. We want to learn about co-op vs. condo so we can help him. Thank you for your professional advice. Read More.