All Forum Posts by: Jon Pflueger

@Jared W Smith, Thank you for the insight on the DOB, this is duly noted when further looking into properties going forward. 

Best,

Jon

@Mohammed Rahman, interesting takes, I agree with you completely. I wonder if this will spark another sharp increase in residential developments like in 2021. (20,000 in 2020 up to 27,000 in 2021) 

@Trevor Finn, this does help lots, thank you for your insight. 

Best,

Jon

Recently, NYC Council has passed a bill, the F.A.R.E. act,  that shifts the brokers fee to who ever hired the broker (Usually the landlord). I am curious to hear some early predictions on what effect this will have on the NYC markets. Will landlords who are barely profitable as it is sell? Will brokers be phased out? Assuming this cost will be reflected in rent, will it give landlords who don't use a brokers an advantage price wise?

In the end, will this act be beneficial to the landlords, or renters long term?

Thank you Jason.

We are looking at investment properties in Brooklyn, and found one we liked and want to add an additional floor (two stories as of now, would go to three), but the zoning is M1-2, which is commercial.  90% of surrounding properties are multifamily residential as well. After reading through nyc.govs lengthy explanation on M1 zoning laws, I am still trying to figure out if we can do this or not. If anyone has experience with NYC zoning laws, or has an answer please shed some light on our situation. Thanks

-Jon

@James Wise Can you go a little more in depth. I understand the legal issues very well, but going more in depth on other problems you see with it would be greatly appreciated. 

@Nicholas L., Id love to work up to being able to afford a property to house hack one day but it is not in the cards right now. Wholesaling is a way of me to learn real estate, with the idea that one day in the near future I will be able to make investments like that.

Honestly, I don't mind @Jerryll Noorden. I have never experienced an industry where 'leaders' have to argue so hard to prove their philosophy. Watching you two go back and fourth is more insightful on what to expect from possible colleagues and competition. @Jonathan Greene, I dm'd you on instagram with a friendly challenge. You seem extremely confident in your initial claims, take me up on it.

Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).

Best,

-Jon

Thank you Mohammed, I appreciate your responses