All Forum Posts by: Damon Bodine

@Christian Costa   Hey Christian  unfortunately this one is 21+ 

Hi Guys  exactly 3 weeks away.   We have about 30 RSVP's so far.  Growing everyday.   

Yeah would you be buying as an investment property?

Hi @Christopher Oliver

does the building have an unlimited sublet policy?   the board generally needs to review and approve all renovations.  Depending on the building that can be a very quickly seamless process.  Other buildings it can take months and the board will need to assist in filing the renovation permits.   

Your building costs may trend  higher in NYC.    Going average among developers I've worked with is $350/buildable square foot.  

If you're going to get $600/SF on the sales side you're going to have to build a higher end product.  Not cookie cutter condo finishes etc.   The buyer pool in the neighborhood is expanding rapidly.    So by the time you actually get to market it could be well above $600/SF.    I would advise doing a substantial analysis of whats driving appreciation in the neighborhood.   

Finally from a practicality standpoint  the DOB in NYC is taking approximately 1 year to approve new building applications (they're very very very backed up)    Then you have to figure on another 18 months-2 years of construction  (could be done quicker  not sure how efficient your crew is)     So I would factor in holding costs into your pro forma.  

I would suggest going to class.     NYREI or Real Estate Education Center if I was you.   Flexible scheduling and great networking opportunities with fellow agents to be.     I did some of my continuing education online  and if I had it do all over again  would definitely go to class.  

Hi All,

Thanks everyone who came to the last Brooklyn/Queens meetup.   It was great to meet so many of you.    Its time to get the next meetup scheduled.   

Come Join Us.

Monday March 28th
The Craic
488 Driggs Ave Brooklyn NY 11211
6:30-8:30pm

This is a low key bar in Williamsburg. 3 Blocks away from the Bedford L train stop with very cheap drinks and a relaxing atmosphere. Easily accessible from most areas in Brooklyn and Queens.

Many of you had made suggestions on how we can make this meetup grow in Brooklyn.    I've asked the bar to keep the music a little lower this time around so we can have more dialogue. Always looking for more ways to improve as well.      

The idea is here is always to build a relaxing environment where people can interact freely and get to know each other.   

Any questions? Feel free to send me a message or reply on here.

Sign up sheet.

***Please note since this is a bar the event is 21+  

Thanks so much everyone for your kind words.   We're likely going to do the next one here either March 21st or 28th     working out the date now.      Hopefully you guys liked that venue?    I've always been a fan of the low key bar setting.   

From an investor perspective  I think East Flatbush is most definitely the next one up.    People are starting to get priced out of Ditmas Park now and there is an overabundance of demand for Victorian housing.    I've already felt it in the taste of my clients.      However smart investors can still acquire property cost effectively that is flipable.   

@Cameron C.  Have you thought about becoming a referral agent by chance?     You can make a lot of money in the business   by creating valuable opportunities for others.