Is the Bronx overpriced at the moment?

[Alex Builder]

Hi,

I'm a Bronx investor seeking an empty lot or old house in R6, R7 or R8 zoning but having a hard time doing so... It appears as everything has doubled or tripled in price within the last year from Bk and Queens investors entering the market. 

I personally think the market itself is overpriced bc the rents and quality of life are not on par with the prices these investors are paying!!!

Any insight would be greatly appreciated. 

[Baze M.]

@Alex Builder I'm an active investor and RE Broker for the Bronx.  You are correct in that many investors are priced out of Brooklyn and Queens and are coming over to the Bronx.  If I were you I would focus on multifamily and mixed use investments.  The honest truth is, single family investments may have you breaking even at best.  There are so many tax advantages to multifamily and mixed use investments.  If you're willing to get familiar with the rental guidelines, I'd definitely consider commercial real estate investments in the Bronx.  Good luck to you.