Anonymous
ID: Ey8fwKvG
6/29/2025, 11:06:42 AM No.60560206
Take the following apartment building in Bed-Stuy NYC:
https://www.loopnet.com/Listing/289A-Monroe-St-Brooklyn-NY/33042838/
It's a low rise apartment building with 6x 2 bed units and the price is $1.5 mil. Average rent for a 2 bed in Bed-Stuy is $3500. But lets say you average $3000. If you rent out 5 units and live in the 6th, that's $15k a month. A mortgage for this building, assuming a decent down payment, would be around $8000. But there are operating costs too. Maybe 4k a month. That leaves you with a healthy 3k a month profit, and $0 in rent in NYC. You'd probably have to dump some money into renovations, but you're also gaining equity.
Am I missing something or what?
Seems like this would have been free money when interest rates were lower.
https://www.loopnet.com/Listing/289A-Monroe-St-Brooklyn-NY/33042838/
It's a low rise apartment building with 6x 2 bed units and the price is $1.5 mil. Average rent for a 2 bed in Bed-Stuy is $3500. But lets say you average $3000. If you rent out 5 units and live in the 6th, that's $15k a month. A mortgage for this building, assuming a decent down payment, would be around $8000. But there are operating costs too. Maybe 4k a month. That leaves you with a healthy 3k a month profit, and $0 in rent in NYC. You'd probably have to dump some money into renovations, but you're also gaining equity.
Am I missing something or what?
Seems like this would have been free money when interest rates were lower.
