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I mean it’s fairly simple:

.net salaries for 4 YOE
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Thoughts on Fundrise?
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I mean it’s fairly simple:
.net salaries for 4 YOE
Thoughts on Fundrise?
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A house in Manhattan?
I’d say do more research. Other than Epstein’s old crib, might not be any actual “houses” — you’ll be seeing mostly co-ops and some “condops” and condos. You almost can’t buy anything without 20% down, very few exceptions. On top of the 20% down minimum, many buildings will want to see liquid assets equal to 12-24 months of future mortgage + monthly fees.
Fees vary widely and will make or break your potential for running positive cash flow. Personally, I think you’ll need more money down, longer timeline, and a building with relatively low fees. The break-even point gets pushed way out in Manhattan due to the high monthly fees.
When you rent out consider 5-10% of rent vacancy and 5% for repair and maintenance.
If mortgage is barely covered by rent then you will lose money after those 2.
Sounds like a bad deal unless you are counting on substantial appreciation.
You might be better of buying out of state.
Mentor
In this market? Prices are on a downward slide. You might be underwater on your mortgage at this rate. And you might have trouble finding renters with historic vacancy rates.
Am I missing something here?
Mentor
P1, NYC has multiple boroughs and many neighborhoods within each. Whatever property OP buys will be subject to the trends of that submarket, not whether NYC as a whole is a desirable location.
I meant condos