How to go about in Buying on Cash, Commercial Foreclosure property in Manhattan?

I am interested in purchasing a Commercial property like an Apartment building etc which can provide reasonable returns with minimum personal supervision. I can invest Max of $ 1 Million liquidity. Is it possible to get some Financing by Banks? I am a Permanent Residence of USA and a new immigrant and currently do not have a Credit Rating. I shall prefer a Foreclosure property in Manhattan or NJ. I am Flexible regarding type of Commercial property as long as income is reasonable . Thanks
In Buying Property - Asked by SHAFAAT S. - Jan 6, 2011
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Rob B.
Chandler, AZ

Shafaat....
I found 20 properties in Queens County that range in price from $1.2 M to $1.85 M, which would all fit your dollar needs. I found cap rates ranging from 7% low to 10% high. The missing factors are: location, condition, current occupancy, and specific market conditions. None of these properties are considered foreclosure properties. It would be my recommendation that you simply find a good property that fits your profile needs, and don't worry if it is a foreclosure property. With regard to Manhattan County there is little available in your price range.
This is the way I apply my 35+ years of expertise these days, helping others who are new to the commercial real estate industry avoid serious mistakes in either buying for themselves or representing others. If you would like further help, don't hesitate to contact me.
Good luck Shafaat......Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: rob@capratecommercial.com

Jan 6, 2011
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zeki d.
Corporate Investor
Brooklyn, NY

There are some good investments that can be found. It depends on neighborhoods you are willing to go into ! If, you want to make very good return on your money without long term commitment on yearly basis this can be achieved.
I am Licensed Real Broker in NY State.
call me Zeki Donuk 1 347 386 9955

Jan 6, 2011
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