United Homes NY?
Has anyone in NYC called and spoken with United Homes? They are selling "brand new construction" properties and qualify you saying that you only have to put 5% down. I am going to their office to see how they are doing this. They offer 2-3 families. I think they must be doing FHA, HUD because they sounded pleased about me being a first time home buyer.
It seems a little too good to be true to me. Anyone had experience or heard of experiences with them? I am looking for a starter home where I can live in one and rent out the other units. Thanks.
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[ Edited by ddhamilt on Date 12/30/2003 ]
[ Edited by ddhamilt on Date 12/30/2003 ][ Edited by ddhamilt on Date 12/30/2003 ]
The website is
unitedny (dot) com
FHA /HUD have programs where only 3% are required as down payment. Why does this seem too good to be true to you?
Sorry, forgot to mention they said their homes start out at 300K for 2-3 multifamily. In New York City, that just seems quite low. We'll see. They said that they also provide tenants for you upon move in. They said they are private investors.
Anybody in NYC know about these guys or spoken with them?
I would be asking more in depth questions if you feel that way. Where are they from? How did they come across the property. Is the property on a hazardous waste spot? Pull comps for the area. You might want to check on those things your self too.
Just some food for thought, until someone here can help. Good luck
I just looked at the site, what do you have to loose? Go and check it out. You might get lucky..It sure beats buying an old building and rehabing.. Just make sure you do the numbers!
thanks pejames. i am meeting with them tomorrow. i am just being a skeptical new yorker. thanks for the ideas!
I looked at the site. They're low because they're in East New York (scary), far rockaway (Fema flood disaster zone) and bushwick, not as bad as east NY, but still pretty bad.
Sure they'll get tenants, but will you ever collect rent? Good luck going to east new york to collect rent. I was an EMT for FDNY in east new york for about 6 months. I saw more shootings/stabbings/maimings, etc... in those 6 months, than I did in my 5 years as an EMT.
I bet half the shootings were landlords collecting rent!!!!
Maybe that's why....
Yeah, I just checkec our their site, and the homes that they have available are some of the worst areas in those boroughs.
One good thing about it is that they'll have no problems getting tenants who are on welfare.
speaking of welfare, anyone have section 8 tenants?
i'm in california and thinking of doing section 8. any info would be appreciated. thanks.
I may be interested in properties in east new york - doesn'ty scare me a bit. 'Cause I am one bad mutha! Actually, I know the area and have watched it transitioned from one of burning buildings in the 80's to blue collar today. In fact, I was in New Lots today for lunch - Excellent fish, rice and beans, salad and a coke - $5 incl tip