I was just at a dinner with some buddies where we asked ourselves if we had $5mm in cash where in nyc and how would you invest.
I said brooklyn, 3- mile radius of gowanus and harlem in and around 125th, I had a friend say Jersey City and Hoboken, Other than getting a 65% LTV loan, any other interesting ways to stretch your dollar? I'm thinking you buy 2, or maybe 3 buildings rather than one building.
Interested to hear what you all have scheming, it seems so easy when you don't have money on the line to have clarifty of the right investments.
Hi C.R.E. Shervin, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
I hope those threads give you a bit more insight.
As with any investment, it depends what you want from this.
You could buy a 4mm home cash and escrow the rest to cover taxes/common charges for the rest of your life.
Are you looking to make money through active management? Then maybe try and buy some value add buildings in the outer boroughs. Want an easy, stable, but uninspiring return? You can probably afford a small rental building in Manhattan. New York City is huge and you can do anything from NNN retail properties to small Class B office. Depends on what you're looking to achieve.
I would say Bushwick/Ridgewood in Queens has next potential to get hot/gentrified in the next decade.
What are your thoughts about Bushwick now?
For the number of buildings part, I'd say always buy more than 1. Diversify your assets and make sure they aren't too close together in case one fails it doesn't drive value down in any others near it. (I may have no articulated this in the best way but I assume you get what I'm saying)
But for where, I'd do something growing like an area in Queens... best potential for ROI. Or anything outside the city that's starting to attract more people.
I would invest $5 million into putting a SEX DUNGEON into LaGuardia
,,,that's a fancy way of saying the bathrooms there need a $5 million renovation
What are peoples thoughts on Downtown JC Resi or Office?
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