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Zen and the Art of Real Estate Investing with Jonathan Greene

How an Accidental House Hacker Scaled Into Real Estate Investing Full-Time

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There are two ways people get involved in real estate: either they stumble upon it or they purposefully do it. 

 

Real estate investor, John Errico, somehow experienced both at different points of his real estate adventure.

 

From an Accidental House Hacker to Purposeful Investor

 

John got involved in real estate in an almost accidental manner. Tired of paying rent, he and his wife who was also an attorney, decided to buy a two-family and ended up house-hacking it. By December, eight months after this first purchase, they bought their second house. Then they bought a third one, and the rest is history.

 

A serial entrepreneur and a Yale and Cornell Law graduate, John left his full-time law practice in 2013 to run venture-backed technology startups in California and New York, including a company in the real estate space. In 2014, he began building a real estate portfolio in the New York City area that eventually spanned out to Union City, New Haven, and now, Atlantic City.

 

In 2018, John and his partner, Ryan Goldfarb, started Liberty Hudson Capital. Soon, they will be up to 100 doors in Atlantic City. They also recently closed a 48-unit old hotel building in the area, and their plans for it are exciting. 

 

Very intentional and very purposeful about everything, now they’re part of the narrative of rebuilding the once-doomed Atlantic City.

 

Why Investors Should Look to Investing in Atlantic City

 

1. The cash flow is insane.

 

In Atlantic City, everything is cheap. And since it’s on the shore, the cash flow is insane. You can do Airbnb and short-term rentals. 

 

Contrary to what many people think, Atlantic City is not a gambler’s paradise, but a family place just like Las Vegas became a family place. People who want to hit the tables can go do so, and the rest of the people can go to the beach all day.

 

2. You’re buying the property for nothing.

 

If you have any belief in Atlantic City’s appreciation, then Atlantic City is a huge win. At some point, the property values have to adjust. 

 

The reputation of Atlantic City was misguided. As an investor, you need to look through that stuff. Don’t do a deal based on reputation, but on numbers, scale, appreciation, and gentrification.

If you want to learn more about investing in Atlantic City and know more about John Errico, check out www.trustgreene.com/podcast/zen/014.

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