All Forum Posts by: Frank Gucciardo

Not NY

Another nail in NYs coffin.  The hostility towards Amazon, including the extreme ignorance around tax abatements, is a MASSIVE red flashing light to any other businesses, warning them to stay away from starting or expanding their businesses in NY (I'm talking the entire state).

NY is generally business/development unfriendly, this just takes it to the next level.

Any company looking to spend capital will certainly not spend the time and money to even consider NY for a short list now.

Ocasio and her merry band of communists have just cost this state hundreds of billions in GDP.  Mission accomplished, I guess.

Same here, I'm out of state but doing my research into the area.  I would definitely drive down from NY to attend a meeting and do some scouting.

 John, are the renters showing up?  New blood?

I’m in Newburgh several times a week.  Grew up there and still have friends and family there.  I live a couple of towns north of Newburgh. 

The recent gang murder on Liberty st tells me that Newburgh still has a long way to go.

Investor dollars flowing into a city are one thing.  I’m not seeing the renters flowing in.  I am seeing people flee NY because of a severe lack of economic development.  Where are the long term jobs for people in the area?  Commuting 2 hours to NYC gets old (first hand experience for 20 years now). 

Only so many boutiques and coffee shops can be sustained. 

Maybe it’s because I grew up there and have heard and seen this story about Newburgh so many times and it never seems to pan out. 

Honestly, are the rents going up?  Is there a major influx of new renters?  I’m only seeing more rental inventory coming on line that will further depress rents. 

The money to be made in Newburgh was purchased a long time ago.

@John Hickey got in very early and bought right.

I hope I’m wrong and I did seriously look at Newburgh, I just couldn’t get over that gut feel. 

 I've just started collecting data and doing my due diligence.  I'm looking down south.  My parents moved to Florida about five years ago and I'm having them poke around their area.

I need to narrow it down to a handful and then will take some trips.

Walden is where I have two of my properties.  Great little town but small and hard to find properties.  Let me know if you are ever around, would be happy to discuss the area and see if we can find a deal.

I'm in the HV and it's tough right now.  I'm in the middle of a project now but they are very hard to come by at the moment.  You could look at Newburgh, but I'm still not convinced of the long term viability of that city (where I was born and raised).

I'm starting to consider outside of the state given the decline in population and terribly high taxes.

Hey @John Hickey,  thanks for tagging me in.

No secret that I've had my misgivings about Newburgh, and honestly, I still do.  I've decided to put my money elsewhere in the surrounding areas, but this does not mean that I don't believe Newburgh is heading in the right direction.

I'm betting that some people are going to want to live around/outside Newburgh but not necessarily in it so that's where I'm staying, for now.

Poughkeepsie is certainly interesting with Marist and Vassar Hospital recently announcing the creation of a teaching hospital.  Big things could be happening but the city government needs to get its act together.  Not very investor/developer friendly.