[Creative Source]

Hi all

I am thinking of investing in perhaps one property in NYC. As a non-US citizen ( I am British) living in London, I understand that I am not entitled/encouraged to buy into Coops. I have a whole range of questions:

1) What are the best website(s) used by New Yorker who want to look at whats for sale?

2) Given the depressed US property market would it be ill-advised to invest now in NYC? Have property prizes suffered in NYC as a result and is it expected to decline further if it has?

3) What areas should one buy in order to rent it out easily?

4) Would one expect a Manhattan apartment bought now to appreciate significantly over the next 10 years?

5) What are the current mortgage interest rates for American bank loans for non-US citizens? Who offers the most competitive loans? Would it be easier as a UK citizen to get a $ bank loan from the UK where they know my credit history?

6) What other charges do landlords pay? Tax? Service Charge? Building repairs?

7) Everyone is talking about Brooklyn and Williamsburg as the place to invest in. Is it all hype? I know there are some beautiful properties overlooking the Manhattan skyline from Brooklyn. Would it be better to invest in Brooklyn instead of Manhattan?

8) Are there any recommended agents that I should seek who will give honest guidance? I know that may be impossible but had to ask!

9) New developments or old buildings? What should I go for?


Anyone interested in this subject please contribute your views. If there are any non-US citizens who want to buy-to-let in NY, I would be happy to team up with you to research and look for property together.

If there are any New Yorkers, resident in NY, who have invested already in NY and are interested in investing in London - perhaps we can help each other out??

Cheers!

CS