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Maybe BRKLYN or Queens. Read somewhere that the avg return on investment for a rental Manhattan unit is lower than a T-Bill.
Definitely not Manhattan. Terrible time to buy or rent lol
Definitely outer boroughs. Scooped up a place in Brooklyn earlier this summer and based on comps I’m already running at about 50-75k in positive equity. Even if you don’t plan to settle down somewhere just yet, consider an investment property.
Where in bk?
Bay Ridge for me. Bought a prewar coop but also a lot of single family homes and newer constructions that are shooting up in value. The Shore Road area in general is becoming more popular now that there’s a new commuting option (the ferry in the 60s).
Thanks. How’s the down payment look like? Heard it’s going to be at least 40-50% down payment for Manhattan. Not sure about outer boroughs.
I took advantage of the low rates and went with the 20% min, investing the rest. Manhattan is trickier because of a combination of very selective coop boards and very rich people (occasionally foreign investors) with deep pockets.