[REAL STORIES] He Kept Renting in Williamsburg and Impulse-Bought a Beach Crash Pad

When most people think of an impulse buy, they probably think of a new pair of shoes. But for today’s guest, it was a beach crash pad. After feeling like he missed his chance to buy in New York City due to climbing real estate prices post-Covid, this banker decided to keep renting in Williamsburg and buy his “second home” first on Long Island in Long Beach.

This Week’s Guest:

Michael “Phase” Phelan has built an insanely successful career in banking and had considered buying a primary home in Williamsburg, where he’s been renting for more than a decade. But then, he made what he calls an “impulsive” decision and decided to buy his second home first: a one-bedroom condo in Long Beach. He plans to use the home as a beach crash pad for now and, eventually, turn it into a long-term rental.

Tune in to Learn:

–Why Phase chose to buy a vacation home in Long Beach instead of a primary home in Brooklyn

–How he found a beachside condo for a fraction of the price of buying in NYC

–Why buying a second home first can take the emotion out of real estate decisions

–The biggest lessons from navigating the home-buying process as a first-time buyer

–How Phase plans to enjoy his beach getaway now and turn it into a long-term rental in the future

Key links:

–Second Home First Academy: BuyYourSecondHomeFirst.com/academy

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