Is there any profit in buying a fully rent stabilized building?

Anyone here have any experience doing so

mjkelly

in General Discussion 7 years and 6 months ago

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BKALLDAY | 7 years and 6 months ago

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No there is not. Unless you plan on buying them out, burning them out or making life such hell you start spooning with the City because you’ve become THAT close.

Guest User | 7 years and 6 months ago

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call Steve Croman… I’m sure he’ll have something to say about it.

Guest User | 7 years and 6 months ago

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call Steve Croman… I’m sure he’ll have something to say about it.

mjkelly

in General Discussion 7 years and 6 months ago

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ok i quit

mjkelly

in General Discussion 7 years and 6 months ago

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ok i quit

yudashasom | 7 years and 6 months ago

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Real estate is not for you. You’ve asked about a dozen ridiculous questions.. it’s time for you to find another line of work.

angelique.m.west | 7 years and 6 months ago

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This can’t be a serious question. But let’s assume you’ve been living on the moon for the past decade then whether you make a profit would depend on the following:
–Your total annual expenses
–What you paid for the property and how big your mortgage is.
–Whether the place is in good repair or, for example, has a 30-year-old boiler that will need to be replaced very soon.
It’s like any business: total revenue – expenses = profit.

resident2 | 7 years and 6 months ago

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Not if you need to ask a question like this.

daveinbedstuy | 7 years and 6 months ago

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Define “profit.”