All Forum Posts by: Matt Payne

@Justin F. I didn't attend that meetup. But I do hear that I look like Seth Rogen all the time, so maybe that's it ;)

@Deondra Carter Cool to hear! Hopefully we can cobroke some stuff, once we have some more vacancies open up!

I agree with @Brie Schmidt . If you want to be investing in the hot or trendy areas, you're going to be paying top dollar for the properties and rents are not going to be able to keep up typically. Especially if values are rising quickly.

Where I am, in New York City, we see this a lot. If you want to buy a 20 unit building in the West Village it's going to cost an arm and a leg because that neighborhood is perennially popular. So unless you look for a sleeper neighborhood about to pop or a major league fixer-upper, your return is likely to be sluggish.

I say that you and your husband should be on the look out for areas that are just starting to get some nearby commercial development, particularly if some major national stores are moving in. This type of development can make a neighborhood more livable and desirable and those are things that can really drive value and rents up. So if you're on the first wave of investors in and find good deals, you may be able to catch the rising tide.

And if your value increases steeply, then you may find some new equity you can leverage into the next up and coming neighborhood. :)

Thanks for all the well wishes guy! Looking forward to it!

@Darren Sager Great to see somebody else near NYC. We'll have to meet up for coffee sometime!

Thanks guys! Excited to be here.

@Jaren Barnes

Thanks for the tips! I'll definitely check them out!

I think it's also worth noting the size of the office you work in. If you work in a huge office for a huge company, it's easy to get swallowed alive.

Where I am, in NYC, some of the big firms hire literally anyone coming out of a licensing course. They figure that the ones who succeed will succeed and the ones who don't will quit. No real loss for them.

I work for a very small "boutique" brokerage, and we have fewer than 10 active agents. I had a connection with the owner and managing director before I started, but I know everyone in my office and we work as a team. For me, this environment is perfect. Others, who are more headstrong, may do better at a bigger firm, where they're on their own.

That's why talking with brokers and seeing what they offer is so important. My two cents, at least!

Matt

Hi BiggerPockets!

Been a member for a few months, but just now getting my first post up. My name is Matt Payne and I'm a real estate agent in New York City.

While my primary focus right now is the sales and rental market, that ties in nicely with my interest in investing as my company has a large property management and investment portfolio, primarily in Harlem and all over the west side of Manhattan. As the rental market is consistently hot in NYC, we focus a lot of time on keeping the buildings in our portfolio filled with good tenants, and branch out to other management companies when our vacancies dry up.

I've also been charged with bringing in new property management accounts for our company, something that I hope the brains here on BP can help me with. I know a lot about the NYC market, but not a lot about how to reach out and connect with investors.

I love the BP podcast and initially found BP through a recommendation from a fellow agent who likes to listen too.

Looking forward to meeting and working with everyone! All the best,

Matt