New Member from Valley Stream, NY
I am an office manager for a group of investors. I have worked in real estate before on the management side, but this part of the industry is kind of new to me. Other than what I've seen on "flip this house" or "flip or flop".
I joined the site after read a couple forums and seeing how helpful the members are with each other and I need all the help I can get!!!
Most Popular Reply
there should be a few multi's in the five towns available. I grew up in the five towns, and in valley stream. Its mostly a good area and easy transit to Manhattan is key to the high home prices in the area. I recently moved out of that area, mainly because of the taxes and the constant traffic congestion.
Im not sure I would suggest Valley stream or Lynbrook as a good area to buy a multi. The reason being they are in incorporated villages and tend to have slightly higher taxes than areas outside the incorporated village. At least in Lynbrook you have exceptional schools and a nice downtown area for paying those taxes. Valley Stream is a hit or miss area some schools are good and some are terrible. And I would say if its not an area currently in a down turn, it wont see the same appreciation in prices as much as any of the surrounding areas. But also keep in mind all of these incorporated village areas in the south western part of Nassau county you cannot park on the street between the hours of 3-5 am, so unless you have an usually large and wide driveway this will cause an issue for your tenants.
I would suggest looking in the close by neighborhoods of Oceanside, island park, and long beach. Lower taxes, more multis available, and no parking restrictions. Rents are just as high if not higher in those areas, long beach especially, but it is usually reflected in the home prices there.
Any other questions feel free to ask.