Spacious and well lit, this apartment has it all, a large living room and a bedroom that can easily accommodate a king sized bed.

There’s an additional room that can be used as a formal dining room, second bedroom or office; you choose. Parquet floors and large windows with fabulous views make this a comfortable and attractive home.

The kitchen has granite countertops, microwave and matching stove and refrigerator. The modern glass front cabinetry includes a wine rack.

The bathroom has a pedestal sink and rain water shower head. Five nice sized closets insure that you have plenty of storage space.

There’s a recently renovated laundry room on site and 24 hour security and maintenance staff. Storage and parking available.

If you can’t make it to the open house, feel free to call or text me at the number below or email me at the email address below.

If you are you current on your mortgage payments with no late payments within the past six months and no more than one late payment within the last 12 months and your loan was sold to FannieMae or FreddieMac on or before May 31st, 2009 the the new HARP (Home Affordability Refinance Program) announced on October 24th , 2011 by the FHA maybe an option for you.

YOu may be may be able to qualify for a new loan/refinance which can lower your monthly payments and help make your home more affordable in these hard economical times.

For more information about HARP, click here or call 1-800-7FANNIE or 1-800-FREDDIE.

Fillmore Real Estate is a member of Leading Real Estate Companies of the World, a global network of the finest real estate firms in the world.  Leading Real Estate Companies of the World has member firms in over 35 countries, 17 time zones, 46 languages and over 15,000 communities world-wide.

As a collective, Leading Real Estate Communities of the World had a sales volume of nearly $225 billion representing 800,000 transactions.

Using our service is easy, simply give me a call and let me know where you would like to move and Fillmore’s professional staff of relocation specialists will find the right agent for you.

Make your out of town move easier.  Give me a call today at the number below and I’ll get you connected with a real estate professional associated with one of the most prestigious leading real estate firms in the world.

4 Bedroom Money Producer - $48,000 income a year!

Spacious Living Room with Original Moldings!

Well Maintained Apartments.

All Plumbing and Electrical has been Upgraded!

Common areas all recently updated.

Income:
Current rent roll – $3571.00 – per month
4 Parking Spaces in Rear – $400 – per month

Total Income: $3,971.00

Expenses:
Heat (Gas): $900.00 – per month
Water: $350.00 every – per month
Electric: $40.00 – per month
Maintenance: $150 – per month
Taxes: $7724.67 – annually
Other: $1,631.30 (property insurance)

Total Expenses – $2,182.22 – per month

Recent capital expenditures – new roof and boiler.

This property needs to be seen to be appreciated!  Own a piece of Brooklyn with plenty of upside potential.

Well here is an example of a four family brownstone that is for sale at the date of this blog post that has a monthly cash flow (profit) of  $3,100 a month (and that’s with a mortgage) for the potential new owner.

The property is located on in Fort Greene Brooklyn.  It has 4 units, all two bedrooms and two of the units have a ½ bath in the master bedroom.  One has roof deck access, the other back yard access.  It is 20’ x 35’ in size totaling about 2,800 square feet of living space.   There are two things that make this property cash flow so well, location and smart renovation.

Location -  Fort Greene is currently one of the hottest areas in Brooklyn, right on par with Williamsburg and Park Slope.  In my real estate office, which is located in Fort Greene, we have several walk-ins daily looking for apartments in the area, so many that there aren’t enough properties to accommodate them all.  I recently rented a really fabulous 1 bedroom for $2000 a month that went from being available to lease signing in three days.  This cash flowing property I’m discussing has an additional benefit of being within three blocks of a subway station.

Smart Renovation -  This is a great buy and hold property because it has been renovated with wisdom.  Every apartment has its own spit AC/Heating System, so the landlord is not responsible to provide, and best of pay for, heat, hot water and of course electricity.

So here are the monthly statistics for this property:

So you can see, you can be a landlord in New York City, in Brooklyn in particular, and make a profit.  You just have to find the right property (or renovate one to make it right) in a great neighborhood.  For more information about this property or other cash flowing properties, give me a call or email me at the number or email address below.

In a statement made by Freddie Mac yesterday, the average rate for a 30-year fixed loan dropped to 4.12 percent, the lowest in the company’s records dating back to 1971. The average 15-year rate fell to 3.33 percent from 3.39 percent.

What does that mean for you, the buyer, in dollars and cents?  Here’s and example.

248 Sumpter Street, a two bedroom condo in the Bedford Stuyvesant/Ocean Hill section of Brooklyn is listed at $239,000.

$239,000 - Offer Price
$47,800 – Down payment of 20%
$191,200 – Loan Amount
$926.00 – Monthly Mortgage Payment with 4.12% interest rate
$583 – Common Charge (includes heat, hot water, gas)
$80 – Electric
$125 – Taxes

$1,714 – A Month to own this condo

So for $1,714 a month you can own a 1,000 square foot two bedroom condo. That’s less than a lot of people are paying to rent a two bedroom apartment, and that’s not including they gas and electric charges.

The market seems very rocky now, but consider this, if you rent an apartment for a year for $1,700 a month you will have given your landlord $20,400 that you will never see again. If you own, when you sell your property, after holding on to it for several year until the economy recovers, you can get back the money you paid plus any profit. The times we live in are financially scary right now, but the opportunity to own for less than ever before is great.

If you’d like more information about buying a condo, co-op or townhouse in Brooklyn, give me a call today at the number below.

A week or so ago I wrote part one of “How to Rent an Apartment In Brooklyn“.  Here’s the second half of my guide for renters.

Let the Search Begin

Once you’ve established your budget and the neighborhoods you can afford to live in, go and visit those neighborhoods, especially if you are not familiar with them.  Visit on a Saturday night, during the day on a weekday and a weekday evening.  Note the streets close to transportation.  Note where the stores, post office, banks and what have you are.  Get a feel for the area.  Check the advertisements for apartments in local realtor’s window displays.

Viewing Apartments

Don’t be late for appointments.  You want to put your best foot forward so that the landlord will like you and want to rent to you.  Showing up 20 mins late for an appointment can mean the difference between getting the apartment and losing it to someone else.  If it’s a great apartment in hot area, you’re not the only one interested in it.

When it comes to looking at apartments, the best advice I can give is take notes.  Take pictures (always ask first, especially if the space is occupied).  After you’ve seen a number of apartments the details start to blend together and notes or pictures will help you keep all the apartments straight in your mind.

Remember, you’re not an intruder or a peeping tom.  Take your time and take a good look at the place, even if the renter or landlord is present.  Feel free to open closets and cabinets.  Its expected.

So, do you like it?

If you find a really great place that you love at a really great price in a really hot neighborhood be prepared to say you want to rent it on the spot.  If you need to think for a moment or two ask the landlord or Realtor to let you do just that.  He or she won’t mind.  If you need a little more time than that, go home and think about it, but don’t take too long.  The next day may be too late.

The Application Process

Make sure all your documents are neat and legible.  They are a reflection on you and again can mean the difference between you getting the apartment or the competition.

Many of the landlords I work with like to do a formal meeting with potential renters before they make a decision.  Be prepared for that.  The interview is also a great time for you to get to know the landlord.  Does the landlord seem tyrannical?  Does the landlord seem like some you can easily work with?  Get a feel for him or her.  Remember, if he or she lives in the building that person will be your neighbor.

Once you and the landlord have decided that your living there will be a good fit, the next step is the lease signing.  All the terms that the landlord has for your tenancy will be laid out then.  Read the lease and any riders.  You’ll have to live by them, so you should know what they say.   Once the lease is signed, you’ll get the keys and you can move into your new apartment.

There is work involved in finding an apartment to rent in Brooklyn, New York, but if you use this guide, and opt to use a good realtor, it can be a piece of cake.  Or perhaps a slice of big apple pie.

248 Sumpter Street, 3A

Large Two Bedroom Condo
Listed at $239,000
Plenty of Room, Plenty of Light, Convenient to All

Spacious is the word that describes this well maintained 2 Bedroom Apartment.

With pristine hardwood floors throughout. There formal dining area is deal for parties and family get togethers.   The kitchen area has a dining nook great for breakfast with the kids.

The bathroom has a bowl sink and designer tile. There’s a washing machine in the apartment and a full laundry in the basement.

Two blocks from the C Train, 10 minutes walk to the J Train and 10 minutes to the L train. There’s plenty of bus transportation as well. This is a must see. Call Elaine at 917-544-2662 to see it today!

his sunny 800 Square Foot One Bedroom Co-op Apartment is spacious and inviting and situated right on the border of Clinton Hill and Fort Greene. Its three blocks for the famous Fort Greene Park and one block from Fort Greene’s Restaurant Row

Walk two blocks to the G Train. Six blocks to the C Train. 20 mins to Downtown Manhattan. 5 Mins to Downtown Brooklyn. Bus service – B38, B52 and B54. Pratt, St Josephs College, Metrotech and Long Island University all in walking distance!!

It has 7 Closets, that’s right 7!!

Formal dining area.

24 Hour Security.

Laundry Rooms on site.

Storage and Parking Available

Manhattan Views!!

If you can’t make it to the open house, feel free to call me at the number below to set up a showing or click here to email me.

Spacious and well lit, this apartment has it all, a large living room and a bedroom that can easily accommodate a king sized bed.

There’s an additional room that can be used as a formal dining room, second bedroom or office; you choose. Parquet floors and large windows with fabulous views make this a comfortable and attractive home.

The kitchen has granite countertops, microwave and matching stove and refrigerator. The modern glass front cabinetry includes a wine rack.

The bathroom has a pedestal sink and rain water shower head. Five nice sized closets insure that you have plenty of storage space.

There’s a recently renovated laundry room on site and 24 hour security and maintenance staff. Storage and parking available.

If you can’t make it to the open house, feel free to call me at the number below to set up a showing or click here to email me.