AboutReza Ardebili Expertise I am a Real Estate Broker. I own my own properties, and I build many 3 family homes.
I can answer all aspects of purchasing/selling/researching on real estate in NY.
I specialize in 2/3 families in NYC (5 boroughs). I can also help you through the process.
BROOKLYN, MANHATTAN, BRONX, QUEENS’s properties in which you can build equity and your rental income pays for your mortgage is a very good idea. Most properties I sell/build are in this category.
Hope I can be of help.
Experience I have been in this field for 8 years now. New Construction, and finding investment properties are 2 of my specialties.
Organizations I own my own real estate company. I am a Realtor. MLS member.
Education/Credentials I am a Rutgers University Graduate. I recieved a B.A. in CIS. Minor in bussiness.
Awards and Honors Just many thanks from the families I helped. That is enough award for me.
Question Hello,
My niece lives in Denver and is asking for a transfer to Manhattan. How much rent can she afford if she makes $80,000 a year? Her father asked me this question and I had no clue. Thanks.
Answer dear Linda:
There are couple of different ways to figure this question out.
I will tell you, 2 different answers, you see which seems more reasonable in your situation, and also i will tell you which i would have chosen.
1st. we have to look at current spending pattern. out of that 80k a year, how much is saved, and how much is spent.
usually i would say with a 80k income, the rent should be close to 2k a month.
even though this person could afford more, but i don't know the spending pattern, so i would say 2k is a very safe amount.
2nd: if i was in that situation, i would have look into purchasing a 2 family or a condo/co-op. with the same amount money out of pocket, they would be able to own the condo/co-op/2 fam house, and at the same time, it's great for the future.
please if you or her dad has any questions, don't hesitate to call me and i will be more than happy to answer your questions.
There are good government programs out there, for people like your niece, so i think with that amount of income, she should deffinetly take advantage of it, rather than spending her hard earn money on some one else's mortgage.
my name is. Mr. Reza Ardebili. and my number is 917 379 5383.
thanks for your question, and i hope it was helpful.
PS. if you like the formulas to calculate income/rent ratio please let me know. thanks.
