BiggerPockets

You would really need to provide more information about what you are trying to do. You question is too vague. Hempstead and Glen Cove both have areas that would be considered war zone and all of Roosevelt could be looked at that way. As such, your pool of buyers would be limited.

:cool:

Richard,

We have a few homeowners that want to sell us their SFR. I hope it is not in War Zone areas.

For example:
First property :Glen Head
Property is worth 1.2 million. I did a comp around the neighborhood and all the houses start from 700k to 1.5 million. The owner is going through a divorce and wants to sell the property to us.
2nd Property: Hempstead (westbury)
SFR: worth 500k. The owner used to work in manhattan but lost his job. He took out loan with the balloon real estate market and now it is over his head. He wants us to take over and work with the bank. We know we can do this.
Third Property:
Roslyn- SFR. The home is worth 650k. This owner also overextend his loan and wants us to take over and work out with the bank.

My question is such that we have work in queens, brooklyn, Manhattan for NY but have not worked in LI.

I like to know if there is a market to resell these properties in LI at all.

Thanks,
Thu

Hi Alice,

I have been feeling out the investors on Long Island since January and have noticed that they are more interested in the lower income areas, low crime, low taxes so they buy and rent out w/ positive cash flow. Have come across a few that re-sell to first time homeowners as well. A good way to test your market is to place ghost ads on craigs list or sites like that to see how much interest it sparks...

No problem. I will also ck with some of the other local investors to see if they have any buyers for those areas. PM me you email and I will touch base with you when I find out.

Please contact me :) provide contact phone and best time to talk.