All Forum Posts by: Dave Currence

@Jeremy Taggart

You seem knowledgeable about Pittsburgh…I have a buddy who has a couple hundred doors there (single family and small multis) he deployed all his cap a while ago and has done well there. In your opinion, and from what you see on the ground, are there still opportunities there in multi-family acquisitions? A variety of unit sizes would work, but up to 100 doors is possible for us, I believe. I’m probably going to make a trip over there from NYC sometime in the very near future, but would love to hear what you have to say. Thanks!

@Greg Parker fair enough. I suppose having a gated community helps alleviate security concerns (though I gave many a Wynlakes security guard a hard time in my teen years ;) ). To be clear, I’m not arguing against investing in Montgomery. I’m just trying to get more clarity myself. I’ve thought about getting a few fix and flips together down there, while evaluating some longer term BnH purchases. I think it’s affordability is still appealing to buyers, but you just can’t ignore the decline in many of the more affordable locations. Much of my hesitancy is buoyed by anecdotal evidence like how many people I know who have decided to leave Montgomery. That said, I know people who operate successful businesses there, often from other locations and find great success. One of my good buddies owns a number of restaurants there, and he does well with them because of the low cost of operation and the ability to purchase the RE at a couple of the locations (benefits that are near impossible to achieve in many more upscale markets).

I can tell deals are moving down there, as I get emails regularly with wholesale deals that seem to come and go very quickly. No doubt, people are making moves there…I just haven’t done enough due diligence to go back and see what kind of work has been done on the units and what they traded for/how quickly they traded, etc.

hey guys- that's a comprehensive list there, @Mike Perry. You're clearly doing some homework. I have to say though, I dont really know how any neighborhood in MGM can truly be an "A"? Crime is an issue in every neighborhood, and even in Old Cloverdale, where some of the most expensive real estate lies, you can go one block over and run the risk of random violence occurring. I grew up in Montgomery, and my mom is still there, and I am always considering making some investments there but I stay worried about the overall quality of life catching up with the investability of the city. For instance, I grew up in East Montgomery (Bellwood and Woodmere neighborhoods). They are still OK places to live but I certainly would not consider them "A" neighborhoods....same goes for the surrounding neighborhoods that were higher end when I was growing up like Halcyon, etc.I say all this, because I would love for someone to convince me otherwise, as I would like to get involved down there and I think it would be relatively easy for me to set up a team down there. I know there are wholesalers galore doing deals in Montgomery, and probably are some people investing successfully, but I dont know anyone personally who is achieving great success in Montgomery, so I would love to hear from some. I do know some folkks doing development down there, and a couple of folks doing some mid size multifamily buy and holds that are offering steady returns but they are diversified across many markets...not solely Montgomery. 

@Greg Parker great! Thanks much. I’ll give it all a look. Probably time for me to come down and visit mom anyway ;).

@Eric Martin I grew up in Montgomery, and still have immediate family there. I’d be interested in getting on your list, if you truly have that many deals to shop. I’ve considered it before, but the city worries me greatly…I might be convinced if the deals look good enough.

I’m originally from Montgomery Alabama, and though I havent lived there for 25 years, I have been considering investing there. I will be in Montgomery this weekend and for a few days next week. Are there any wholesalers or brokers here on BP who might want to show me what you have? Reach out here, and I’ll send you me email or phone number so we can chat. Best-dave

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@John Hickey Great Meetup this morning! Thanks for putting these together. Looking forward to seeing everyone more around Newburgh. 

@John Hickey -Thanks! Im definitely going to check out the area, and do whatever I can to get up to the meet up on 4/30. I might take a drive up there sooner, just to get my bearings. I appreciate your reply.  

and yes, I think often about getting a new restaurant going outside of NYC. It's become damn near impossible to make them work down here. The ability to buy the real estate your restaurant occupies is a classic recipe for success, but very difficult to achieve in NYC (for obvious reasons). 

I have met Jodi on a couple of occasions, as she does some private chef work as well and has worked for some friends of mine who have a summer place near Milan, NY. Her food is fantastic in my opinion. I'd like to check out her place. 

HI everyone! I would love to come up and start to get a handle on what is happening in Newburgh. I have been looking at some of the markets in the area, and have never really looked at Newburgh, but can see now there are some folks making it happen around there. Looking forward to meeting some of you there, and hopefully making some deals happen.