All Forum Posts by: Michelle Backer

@Mason Hickman

Right. The list doesn’t look so great though

Are there perhaps condos not on the list. Is it worth it if I call owners of buildings directly?

Another way I hear to put less down is

A FHA construction loan 3%

Sally Mae 5%

If there’s anything else I’m missing I’d appreciate the advice

Fha loan to buy a condo or sponsor unit?

Is this possible? I can only put 3% down

I live in nyc

Buying a condo with fha loan in nyc .. please advice

Is this possible or am I dreaming?

Lifelong New Yorker who wants to own

Good credit score

That’s what I’m wondering

I am Looking at condors yet also

co-ops that are sponsor units. Apparently that’s low downpayment too

Can I have advice on buying an apartment in NYC, specifically an REO home? My biggest issue is avoiding the 20% downpayment

@Scott Lennon

Hi! I’m in New York City. I think we will see a crash yes. Sadly I predict we could see a repeat of the 1970s when the city went into debt. Those who forget history are doomed to repeat!

Many people are moving out of here, lost jobs. Many can no longer afford rent. Crime rate is up and out of towners are packing their bags.

This is New York City! The greatest city in the world. Everything starts and ends here ..

I have no idea

about Virginia though!!

@Frank Hinck

I can buy the land with cash

I think I found a GC who is good and who I could trust

Is a construction loan a good

Move to build a home? I want to put as little down as possible ..

I have a plot of land upstate

@John Farady

Yes, it’s so sad!

Nyc will start evictions soon

They’re starting illegally I’m sure already

@Alexander Roeschmann

I live in nyc. I was born and raised here too

So my fear is that we might lose a lot of our wealthiest people and cycle back to the 80s.

Right now it’s like it was back in the 90s which wasn’t bad yet transplants arent used to this. a lot of my neighbors are moving for different reasons: the peak of the corona virus was horrifying — ambulances 24/7, like a war zone. — they want to move before second wave in fall

2. Protests and crime — there’s been an increase in crime and some are scared. I’m in a wealthy area and I’ve noticed this

3. Economic ! A lot of people I know have lost

Jobs, can’t pay rent and have simply left .. I assume to go back to their families homes wherever that may be. Nyc will only subsidize them for so long

4. Schools are shut! We are stuck in apartments homeschooling our kids until god knows how long. I don’t see how this giant public school system will open in fall. They simply can’t.

I think the real test is the fall. How bad will this be in fall? New Yorkers, such as myself, are exhausted from months of staying indoors in our apartments. Very.

Plus also remember that a lot of people who live in nyc now aren’t natives. Honestly if my family didn’t live here for generations I’d probably pick up now and leave myself before fall hit.

We are not doing too good at all. You can’t look at the stock market to truly assess or predict how this Will end. Nyc is not in the best shape and I predict we are headed for harder times:

https://www.nytimes.com/2020/07/07/nyregion/nyc-unemployment.html