Written by Gabriella for Island Advantage Realty. LLC
I recently got a call from out of state, a mom getting ready to send her son to film school in New York, but devastated by the price tag attached to dorm life in New York City. It wasn't that she couldn't afford the dorm; it was that she couldn't bear the thought of spending all of that money and having nothing to show for it at her son's graduation. Being a savvy property owner she Googled New York REO and found Island Advantage Realty, LLC, which isn't surprising because we are the leaders in REO sales for the Metro New York and Long Island areas.
We talked on the phone and I got a clear idea of what she was looking for, I was able to compile a list of properties that met her specifications and budget and emailed them to her. She looked over the property specs and made arrangements to visit our fair city. I am happy to say that her son is the proud owner of a lovely property with monthly payments that are less than his tuition. Not only that there are two additional bedrooms in the home which he can rent for additional income if he chooses to.
Instead of writing a check for dorm rent his parents will be helping him to build equity in a building that will more than likely grow in value while he is at school. It is a gift that continues to give. Additionally he will be building good credit while living there and since he is a first time home buyer he qualified for the first time home buyers tax credit for a whopping $8,000 paycheck. Not bad for a college student.
If you or someone you know is moving to the Metro New York or Long Island area and is interested in buying quality real estate for a great price, tell them to all Island Advantage Realty, LLC. We are experts in the REO field.
The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances. Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action. For further information or questions please contact Gabriella@IARNY.com
Island Advantage Realty, LLC specializes in Foreclosures and Bank Owned properties in the Metro NY and Long Island Areas. They are dedicated to educating home buyers about the home buying process in the Foreclosure and REO markets.