https://www.zillow.com/homedetails/1...83567649_zpid/
Can anyone advise me about how this deal looks?
@Gandalf @Primo Carnera
https://www.zillow.com/homedetails/1...83567649_zpid/
Can anyone advise me about how this deal looks?
@Gandalf @Primo Carnera
If you have the money and want a toilet for each working day, then go for it. But it is a bit pricey for the working man and the dusting will take time.
Probably pretty good. Four family home you can fill those instantly. You would need to check comps in the area but for investment properties it’s probably in the ballpark although it’s much more than I would have thought. You put that thing in San Francisco near the silicon area it would probably be 30 million. Move it to Detroit it would probably 29 dollars depending where you put it.
The price inflation is rather corny though. Price seems to have increased 3 fold in a year or two. I highly doubt the bathrooms are made of gold or anything. Don't buy it Fats, get something more ordinary. A cabin in the countryside is the meaning of life and one toilet is usually enough. Avoid these humans, especially the coke addled rich ones.
Yeah Gandalf but $3.5 million is peanuts when you consider as @walrus has said 4 bedrooms, you can get $1500/month each if you rent it out. $6000/no will handsomely pay the mortgage, no?
Yeah it four families 8 bedrooms. What would be the going rate for a two bedroom apartment in flushing. That peak in the last year on that chart is insane. It’s funny I went back to look after I gave it my much too brief look. I spent a lot of time in that area. There is a rather well known acupuncture place blocks away. That area is split down the middle. There is a Chinatown area then you cross the street and it’s a Hasidic Jewish area. That house is in the Hasidic Jewish area. Also it’s been on the market going on 5 months. If it was that good an investment deal it wouldn’t sit so long. I am far from a NY realestate expert but I can tell you I never saw any empty places or for sale signs it’s a very bustling area. 3.5 seems very, if the mortgage is 20k a year you got four families how much can you rent each unit out for. I was thinking 4 thousand but they must be thinking more than that. Do people pay 6k a month in flushing I have no idea. I guess if you can get the price down and pay cash it might work. Obviously somebody thinks it makes sense but the rent would have to be killer and yes that recent jump defies logic
Oh perhaps that was the theme. All I looked at was the current price and that it’s four families. I would also expect to see a lot more for over 3 million but shit people pay such high rents for little shit holes near the city it really didn’t surprise me. We would need to see if property did actually spike that much in that area which would be insane or if the builder bought a rundown single family and turned it into an apartment building. I guess I looked at it too quickly but I remember when Brock was here he used to bitch about how crazy rent was in that area. My guess is it isn’t just inflation. It could have been a piece of shit when the dude bought it and he rebuilt it. Pure speculation on my part but now I’m curious
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