All Forum Posts by: Joshua Fu

Thank you so much for you guys' helpful input! 

I am thinking of buying a condo that is around 500-700 sq ft, price range 100K-150K,  and needs some renovation. What's the estimated cost of renovation for a condo like this? And where you guys find the contractor to do the work? 

Thanks!

Josh

Thank you very much for all your helpful advice! 

I can put around 100-150K for down payment if necessary, but I want to keep the first investment as low as possible, like you guys mentioned, keeping a healthy cash flow. 

As to the choice between condo and Coop, after I learned more about the nature of Coop in NY, I don't think Coop will fit my investment goal, even though I will live in this property for at least 1-2 years.  

Condos (or apartments?) in Queens or Brooklyn are pricey for me (400K above on Zillow) especially where close to subway stations. Now it looks like Journal Square area has condos that fit my budget and investment and traffic needs. But some remind me the high property tax in NJ, does it matter that much? 

Thanks!

Hi everyone,

I am an Army veteran, also a first-time buyer moving to NY area in a month. My new job is in lower Manhattan area. 

I will rent an apartment first but I am going to buy one eventually. My considerations are: 

1. Easy to rent out. My stay in NY will be at least 2 years, so I'm not going to rent it out right away. But if I leave, my goal is to have the rental cover everything (mortgage, HOA, tax)

2. Close to subway station/path. This is my priority when choosing a rental apartment if I work in Manhatten, so I guess this type of apartment will be easier to rent out. 

3. My budget is around 300-350K. My credit score is pretty good plus I can use VA loan.

4. I am single, no pets, open to a studio, 1bed/2beds size. 

As a first-time buyer and just transited out from the military to NYC, I really do not know much about the real property market where I'm going to. Based on the factors above, I hope you guys can give me some advice and recommendations! Thank you!