Kenneth Volandes is of Greek descent and states that he got into real estate law because Greeks get involved in one of two things: “diners and real estate”. He suggests that the best way to get into real estate is to buy a multi-family that you can live in and produce income through. He also suggests getting into real estate early in life.
He likes spending time in Sunset Park and Redhook and sees Redhook as potentially the “next” neighborhood, especially with the introduction of a city bike and if the 1 train extends there one day. He sees Sunset Park as a good area for investment, especially around 36th street, as well as around the Midwood/Flatbush area off the Q stop, where it’s 30 minutes to Union Square. He also sees the Bensonhurst area off the D train as a good investment because it’s also about 30 minutes to Union Square.
[00:01:55] How did you get into law?
[00:02:24] What advice would you give to someone starting out in the field?
[00:03:27] What’s your favorite area in Brooklyn?
[00:06:23] Do you have a favorite restaurant in Brooklyn?
[00:07:17] Coming out of the recession, Brooklyn experienced a real estate boom. What is your experience with how long booms last and where is the market heading in 2-3 years?
[00:11:10] How concerned are you and your clients of the L Train shut down in Williamsburg, Greenpoint and how will that affect business?
[00:14:31] What advice would you give to someone looking to buy or sell a property in Brooklyn right now?
[00:16:40] If you could go back to the beginning of your career and change something what would it be?
Kenneth Volandes
Founder of Volandes Law
Kenneth Volandes is of Greek descent and states that he got into real estate law because Greeks get involved in one of two things: “diners and real estate”. He suggests that the best way to get into real estate is to buy a multi-family that you can live in and produce income through. He also suggests getting into real estate early in life.
He likes spending time in Sunset Park and Redhook and sees Redhook as potentially the “next” neighborhood, especially with the introduction of the city bike and if the 1 train extends there one day. He sees Sunset Park as a good area for investment, especially around 36th street, as well as around the Midwood/Flatbush area off the Q stop, where it’s 30 minutes to Union Square. He also sees the Bensonhurst area off the D train as a good investment because it’s also about 30 minutes to Union Square.
Mr. Volandes sees good times ahead for New York real estate. Most of the brokers he works with also feel confident about the New York market for the coming years. He states that as long as you don’t over-leverage you can still buy at a peak and sell at the next peak and make a strong return. He says Greeks don’t see selling a property as a crime, but rather as a sin. He thinks it’s best to buy and hold as opposed to looking for a quick turn around. He says in the Brooklyn market today the real estate agent is making his or her commission because pricing the property right is essential.
Mr. Volandes recommends checking out Rich Dad Poor Dad to help change the way you think about earning income. He also recommends Confessions of a Commercial Real Estate Entrepreneur, as well as going online to get familiar with New York City landlord-tenant laws.
