The NYC Market can't handle BP plans

[James Post]

Hey All, Newbie here. I have reading a bunch of strategies and plans from all you fine intelligent investors. It seems to me, that no one is really located/investing in the NYC Market. The prices, plans, & scenarios I have read this far just doesn't seem possible in New York. The taxes out of NYC is the most in the nation. The prices of homes are for more expensive than the rest of the nation. Is it just me? Basically, I'm writing this discussion to see or hear any success stories in the NYC Market. Especially for the Buy and Hold strategies. What areas of NY did you find success in? What strategy did you go? Basic stuff. NY unite! Best wishes to everyone, James

[Joe Cummings]

I love NYC, I made a lot of money working on the Freedom Tower, The Hellgate Line, and a couple of Kiewit projects.  It's a high energy place, you can feel it in the air, it's like a drug to me.

That being said, it's a high stakes game, and you kinda gotta run in the right circles. Admission to the game is high, and everything is so political. It's not for the faint of heart. 

I can't say much about about what it's like to invest in dirt there. I was never anything but a peon subcontractor with a tractor, a couple of trailers, and a forklift (and the blessings of local 282).

Time is money there, and there is no time to sulk about little boo-boos. One time I was sitting in Manhattan waiting for some guys to get done drilling so I could break down the drill rig. Some guy totals a taxi into the back of my trailer. He gets out and he;s ok. He makes a phone call. like five minutes later a car stops and this guy gets out. (Patched in member of one of the dominant local bike clubs). It's his taxi. He asks me "Who was driving my car?". I point out the driver, and he says "Damn, I never saw that one before" Now we start laughing and he bums a smoke from me. He looks at the back of my trailer and there are a couple of broken lights. I tell him "F it, no big deal, I've got spares". 

We shake hands and he calls his driver over and leaves. I start loading the drill rig, a flatbed shows up to pick up the totaled taxi, the driver says "My boss said to give this to you" and hands me a bag with new lights in it.

So anyway, that's NYC. A totaled 5 year old Crown Vic, and 30 bucks worth of lights. No big deal, not worth getting cops involved. No insurance company BS. Not worth the time. Just eat your losses, and keep moving, "Time is Money"