Join an active community of RE investors here: [https://linktr.ee/gabepetersen](https://linktr.ee/gabepetersen)
0:00 Introduction & Why Rental Arbitrage Matters
1:15 From Banking Burnout to Real Estate Freedom
3:40 What Is Rental Arbitrage? Strategy Explained
6:45 Breaking Down a Real Deal & Profit Margins
9:30 Costs, Furnishing, and Flex Wall Setup
12:20 How to Find Landlords & Close Deals
15:10 Managing Tenants & Turnover Challenges
18:00 Scaling in High-Cost Markets Like NYC
20:45 Biggest Mistakes & Tenant Screening Lessons
23:30 Final Advice for New Investors
WELCOME BACK TO THE REAL ESTATE INVESTING CLUB 🎙️ In this episode, I sit down with Vineet Dutta from Hive NY to break down one of the most accessible and scalable strategies in real estate investing: rental arbitrage. If you’ve been searching for ways to generate passive income in real estate without owning property or needing massive capital, this conversation is packed with actionable insights 💡
WHAT IS RENTAL ARBITRAGE AND HOW DOES IT WORK? 🏠 We dive deep into how investors can lease properties from landlords, optimize the space, and sublease by the room for higher cash flow. Vineet explains how he transforms standard apartments into high-performing rental assets using co-living strategies, flexible leasing, and smart pricing. This model is especially powerful in expensive markets where traditional investing feels out of reach.
REAL ESTATE CASH FLOW WITHOUT OWNERSHIP 💸 One of the biggest takeaways from this episode is how you can generate consistent monthly income without buying property. We break down real numbers, including rent costs, setup expenses, and expected profit margins. If you’ve been intimidated by down payments or financing, this strategy offers a compelling alternative path to financial freedom.
SCALING IN HIGH-COST MARKETS 📈 We also explore why cities like New York create unique opportunities for rental arbitrage. From corporate tenants to short-term professionals, demand for flexible, furnished housing is massive. Vineet shares how targeting the right tenant base and building strong landlord relationships can unlock scalable growth—even in competitive markets.
FINDING DEALS AND LANDLORDS 🤝 Success in rental arbitrage comes down to deal flow and relationships. In this episode, we discuss how to pitch landlords, build broker networks, and position yourself as a reliable partner. If you’re wondering how to get your first deal, this section alone could change your trajectory.
#RealEstateInvesting #RentalArbitrage #PassiveIncome #FinancialFreedom #CashFlow
Want to learn more about our guest? Connect here: https://hiveny.com
Want to learn more about the REI Club Podcast, how to invest with Gabe at Kaizen, or join our community of active real estate investors on Skool? Visit the podcast website at https://www.therealestateinvestingclub.com
or click here: https://linktr.ee/gabepetersen
0:00 Introduction & Why Rental Arbitrage Matters
1:15 From Banking Burnout to Real Estate Freedom
3:40 What Is Rental Arbitrage? Strategy Explained
6:45 Breaking Down a Real Deal & Profit Margins
9:30 Costs, Furnishing, and Flex Wall Setup
12:20 How to Find Landlords & Close Deals
15:10 Managing Tenants & Turnover Challenges
18:00 Scaling in High-Cost Markets Like NYC
20:45 Biggest Mistakes & Tenant Screening Lessons
23:30 Final Advice for New Investors
WELCOME BACK TO THE REAL ESTATE INVESTING CLUB 🎙️ In this episode, I sit down with Vineet Dutta from Hive NY to break down one of the most accessible and scalable strategies in real estate investing: rental arbitrage. If you’ve been searching for ways to generate passive income in real estate without owning property or needing massive capital, this conversation is packed with actionable insights 💡
WHAT IS RENTAL ARBITRAGE AND HOW DOES IT WORK? 🏠 We dive deep into how investors can lease properties from landlords, optimize the space, and sublease by the room for higher cash flow. Vineet explains how he transforms standard apartments into high-performing rental assets using co-living strategies, flexible leasing, and smart pricing. This model is especially powerful in expensive markets where traditional investing feels out of reach.
REAL ESTATE CASH FLOW WITHOUT OWNERSHIP 💸 One of the biggest takeaways from this episode is how you can generate consistent monthly income without buying property. We break down real numbers, including rent costs, setup expenses, and expected profit margins. If you’ve been intimidated by down payments or financing, this strategy offers a compelling alternative path to financial freedom.
SCALING IN HIGH-COST MARKETS 📈 We also explore why cities like New York create unique opportunities for rental arbitrage. From corporate tenants to short-term professionals, demand for flexible, furnished housing is massive. Vineet shares how targeting the right tenant base and building strong landlord relationships can unlock scalable growth—even in competitive markets.
FINDING DEALS AND LANDLORDS 🤝 Success in rental arbitrage comes down to deal flow and relationships. In this episode, we discuss how to pitch landlords, build broker networks, and position yourself as a reliable partner. If you’re wondering how to get your first deal, this section alone could change your trajectory.
#RealEstateInvesting #RentalArbitrage #PassiveIncome #FinancialFreedom #CashFlow
Want to learn more about our guest? Connect here: https://hiveny.com
Want to learn more about the REI Club Podcast, how to invest with Gabe at Kaizen, or join our community of active real estate investors on Skool? Visit the podcast website at https://www.therealestateinvestingclub.com
or click here: https://linktr.ee/gabepetersen
Category
📚
LearningTranscript
00:05all right we are back with another episode of the real estate investing club i hope you guys are
00:11having a great day great week wherever you are and whatever day it is for you as always it is
00:16friday on the podcast we're bringing that good friday energy to you it is nice and cloudy here
00:21in uh in sunny seattle and as i mentioned on the last episode i'm really excited for spring
00:27the trees outside my daughter's window are starting to bud and it's like february i didn't i didn't feel
00:32like that started until april these trees are confused but got me excited so i hope you guys
00:37are equally excited for spring around the corner it's a good day for a second reason though because
00:41we got vinny duda with us vinny from hive ny he deals in rental arbitrage so any you guys out
00:48there
00:48you're looking to get into real estate um you don't have a lot of capital to deploy you want to
00:52know a
00:53good uh relatively inexpensive way to get started this is the episode to listen to it's a really
00:59interesting strategy that works in kind of the more expensive markets um vinny will go into it deeper
01:04but uh vinny yeah i'm excited to jump into this thanks for hopping on the show yeah thanks for
01:09having me looking forward to it absolutely um i told you before we got on here we always like to
01:14start with stories we like to hear how people got to where they are so why don't you take us
01:18to the
01:18beginning of your story in real estate and tell us how you got here yeah so um just like a
01:24new
01:24new yorker used to work in finance and then one day had a realization i hate my bosses and just
01:32wanted
01:33to leave that w-2 trap and was sitting on an idea of this rental arbitrage business for a while
01:40i really got into it because i was actually renting to a friend that became a friend over the course
01:46of
01:4710 years um i sublet my apartment in new york while i was doing consulting work um so just to
01:53kind of save a lot of money right like in your early 20s uh found someone to sublet my room
01:58while
01:58i was traveling to san francisco for work and uh that individual decided to stay in my apartment for 10
02:04years uh and i just kept renewing my lease and we just you know and he would just pay me
02:09rent and
02:10just made a little off the top um you know like all my family members friends family said
02:15why are you leaving banking why are you leaving your w-2 don't do it so listen to the voices
02:21never
02:22went down that entrepreneurial journey uh then eventually uh fast forward to 2022 uh we started
02:30working at a bank here in new york i'd rather not say the name just because um and just was
02:37kind of
02:38like just throwing up before going into work and just stressed i'm like what like what am i doing
02:42uh this was in fun like you know like i shouldn't be throwing up before going into work working
02:48you know that's a good limit you're throwing up going into work you should probably change something
02:53right uh so then i since i was like hey you know i've been renting to this guy for 10
02:59years
02:59why don't i just try scaling this concept right and fast forward started reaching out to landlords
03:07um trying to sign mass releases new york is pretty competitive so targeting some of the
03:14smaller landlords was the main focal point and primarily a little outside of manhattan initially
03:21and then started expanding back into manhattan and then now back outside of manhattan
03:27awesome so i'm going to pause you there um because i you you've kind of you use some terms that
03:33i
03:33people who aren't familiar with the the strategy i don't think they'll understand so why don't you
03:37um why don't you first kind of give us an overlay an overview of what rental arbitrage is what is
03:43the
03:44strategy how does it work yeah so i i guess my business model is right rental arbitrage with the
03:50corporate co-living component right i'm not just moving one tenant in i'm my concept is rent by the
03:55room because it's new york city right people need roommates everyone has a roommate in the new york city
04:00market um so pretty much i reach out to landlords give them the pitch i sign a master lease with
04:06them
04:07and then i convert the space into uh i'll take maybe a one bedroom and convert it into two
04:13additional bedrooms so it'll become a three-bedroom flex as they call it here in new york um so then
04:19i'll make all right pause so you you take a one-bedroom apartment and you turn it into a three
04:25-bedroom
04:26yeah just like like i said right like someone and it's not like all formats kind of can fit this
04:31um it's depending on the size of the living room and things like that and this the spaces are
04:37decent size right they can fill a full-size mattress a desk there's just no living room
04:42technically sometimes or a living dining room is relatively small yeah um and you know like
04:50new york city is great for this because you're not spending time in your apartment right you're
04:56going to work and you're going to go be social or the gym whatever it is right you're the only
05:02time
05:02you're entering your apartment typically and this is probably pre-covid like you know obviously um
05:08work from home is uh pretty prevalent but you know a lot of the banks have now started requiring
05:15people to come back to work five days a week so you're not really spending time in your apartment
05:21in new york city uh you're always out and about so the the room is just there for to sleep
05:27and people
05:27and these are young 20 year olds early 30 year olds that are just trying to save on a high
05:32cost of
05:32living so that's why it kind of works um the other concept to this is is that you know it's
05:38kind of
05:39month-to-month flexible leasing so you get a lot of people that are from out of town that are
05:44here on
05:44project basis there's fashion week you know there's hey i'm here for an engineering conference or
05:51engineering project so i just need something in the midterm to long term i've had tenants stay four
05:58years or three years in my places you know they they want to land in a place that's turnkey ready
06:04uh and then they're like oh my god it costs a lot of money to move in new york i
06:10gotta pay a broker
06:10fee i gotta put up a security deposit um i gotta make 40 times rent right like if you think
06:16about
06:17new york rent prices you're talking about like 160 000 minimum starting to to sign a lease uh and
06:24then you gotta put up at least 20 000 to move in right between a broker fee security deposit first
06:31month's rent furnishings uh you know that's a lot of money for you know young 20 year olds just starting
06:37out of college or just anybody for that matter right just to just to move into a place um so
06:44then we make these apartments turnkey ready and people just kind of bring their bags and that's it
06:51nice so so i want to um i want to just put a little cap on the whole strategy in
06:57itself so you
06:58you go to a landlord somebody who's renting a long-term rental so they have a one bed one bath
07:03whatever and you sign a lease with them um you sign a master lease like you said and then you
07:09sublet
07:09that that rent that rental if it's a one bath it's crazy you get three but you sublet it to
07:14other people
07:15for a markup so you rent it at i'm just going to use round numbers here i know it's not
07:19a thousand
07:20but i'm going to use a thousand as the as the what you're renting from the owner for you rent
07:24your
07:25master lease as a thousand and then you rent to those three people who are coming into that one
07:30bedroom you rent each for i don't know 500 750 whatever it is um and you take the spread exactly
07:39awesome yeah and i so i love this strategy i've never done it myself but i i love the strategy
07:43in in concept because it is a great way for somebody who wants to get into real estate who wants
07:49to to
07:50see that cash flow um it's a great way to do it inexpensively real estate itself you know you guys
07:56if you've been listening to this show you know that we're talking about hundreds of hundreds of
08:00thousands millions of dollars you don't need that for this type of strategy in order to get started
08:04and there's a ton of cash flow that can be had um so break down the the numbers for us
08:09when
08:10you know a typical deal i know i know i'm sure they all differ but uh break down a uh
08:15one deal for us
08:17the numbers what you rented it for what you furnished it for and what you're renting it out for
08:22yeah sure so we'll just i'll use like round numbers just for the conversation so let's say
08:27you know you rent a one-bedroom apartment for five thousand dollars uh then you put up the flex walls
08:34the flex walls are depending on the type right some buildings are you is that really is that a real
08:39in new york is it five thousand to rent a one bed is that like a real number yeah this
08:45is like a very
08:45real number new york's expensive that's crazy yeah yeah no that's that's not a joke and i think it's
08:53gonna up slightly more uh because they got rid of broker fees so now the apartment buildings have to
09:00pay the broker uh so that has increased rent as well uh this was the last year or last two
09:06years
09:06they kind of implemented this new regulation um yeah so pretty much let's say you rent a one bedroom
09:11for five thousand so then i convert that into a three bedroom um depending on right i'll have
09:17different tiers of the bedrooms right the primary secondary and the third bedroom um and the third
09:23bedroom typically tends to be a home office uh you know so people don't necessarily have windows so
09:29they have a home office let's say not necessarily a bedroom um and you the flex walls are around fifteen
09:38hundred to two thousand depending on the material you use and a flex wall is uh i'm assuming i mean
09:45in my mind i'm thinking like that japanese style uh like paper wall or you know something in an office
09:51it's it's it's like sheetrock um it's just it's considered pressurized walls uh so they don't put any
09:57like nails into the floors or the ceiling uh they just have metal studs um and then they just nail
10:04it to
10:04the two sides walls that's it oh interesting okay yeah yeah um and there's some buildings have
10:10different requirements right some want a 12 inch gap which kind of makes it tricky which will
10:15lower your margins um some people want bookshelves so you got to kind of really uh understand what the
10:22landlord wants and then when you're pricing your units to really understand like hey if my wall has a
10:2912 inch gap per this landlord i'm not going to be able to get full market rent right like i
10:33have a
10:33big and hole in my ceiling and there's two people sharing that wall so uh you know that's going to
10:39lower your margins a bit so the sweet spot is to find landlords that allow um full walls full flex
10:48walls and some don't even allow flex walls so you have to put a a bookshelf which costs a little
10:54bit
10:54more money so let's say a flex wall is fifteen hundred a bookshelf is two thousand um and then
10:59sometimes they don't oh and the bookshelf acts as the wall correct if you were to put a bookshelf
11:05in yeah yeah okay and it's not like a bookshelf you go to like you know like ikea and buy
11:09a bookshelf
11:10these are like custom made bookshelves that the same people that build the walls are the same people
11:14that build the bookshelves um it's a company called wall to wall they have like a monopoly
11:20on these walls in new york um and then some buildings don't even allow like swing doors so you have
11:27to put
11:27sliding doors uh that are attached to the bookshelf so it's just kind of you know little uniqueness
11:32to each uh build so let's say the rent is yeah yeah so let's say the rent is five thousand
11:42the
11:44uh flex wall is fifteen hundred you're furnishing the full apartment with what just a full-size bed and
11:51you're you're not putting like tvs i'm not putting couches because like that living room space has been
11:56converted into a bedroom uh just your bare bones for people to come put their head down desk
12:03uh dresser full-size bed lamp that's pretty much it um which costs around three thousand dollars
12:11between the three different rooms in total uh and then you probably get around a from the rent you
12:17probably get around anywhere from a 25 to 30 percent markup um off of the uh the rent as your
12:24uh gross
12:25margins so if you're renting it for five five thousand each um oops each i'm doing math in my head
12:34here each unit is gonna rent for two thousand something like that uh well you're gonna charge
12:41like around i'm just sorry i'm just okay you're gonna charge 1250 over the 5000 so it'll come to
12:48the six thousand 550 for the whole unit right so each person renting your i mean in this in this
12:54scenario like each each room is priced differently it's not that because you have a primary bedroom
13:00got it got it got it home office bedroom and then the secondary bedroom so each uh room is priced
13:05differently yeah so it'll range from you know one's three thousand one's you know one thousand one of them's
13:13four i don't know if that math makes math so but uh yeah yeah so my pricing is typically like
13:182250
13:202150 and then 1600 interesting okay cool man that is uh that is a really interesting strategy so at this
13:28point you're making um you're making about you know two thousand dollars one to two thousand dollars a
13:33month uh and you have put in so you yeah you have five thousand dollar rent which will be covered
13:40and then you have you put about forty five hundred dollars into it between the wall and then the
13:44furnishings um is there any other expenses that are kind of unseen here that people would have to pay
13:50uh no that's pretty much it uh to get a room up and running and you're pretty much cash flow
13:56positive
13:57after like i mean if you have to if there's a broker that finds a unit for you versus you
14:02finding it
14:02through you know street easy zillow whatever um then you have to factor that in and broker's fees
14:09in new york are one month's rent so you know imagine putting up 5 000 yeah makes sense interesting i
14:16mean but you're yeah you're you're positive in a couple months max um so it's a really interesting
14:22strategy uh what what do you run into i mean here in seattle i'm sure that you'd get shut down
14:28instantly because of zoning laws and um you know people having a fit with uh with non-conforming use
14:35that kind of thing what do you run into those issues um there in new york or uh what is
14:41uh
14:41it's certain buildings allow these right and depending on whatever they've gotten approval
14:46from the building department uh allows for it not all buildings allow for flex walls maybe their
14:52landlord base doesn't allow for flex walls uh but it's pretty common practice here in the in the new
14:58city area okay that makes sense um let's talk about the pitch uh so i feel like that would be
15:05one of the hard parts about this i mean finding a unit um that will actually accept this type of
15:10strategy you know has to be a difficult process um how do you pitch the landlords and how do you
15:15find
15:16them in the first place um just like through broker networks you know i've built up of a pretty good
15:22broker network so i will like reach out to them and if they have units um that they're looking to
15:27rent
15:27i'll say hey here uh benny from hive here's my use case uh would love to partner with you
15:33and then i kind of kind of go into the benefits of why partner with us right they get reliable
15:38long-term cash flow at full market rent um we eliminate their vacancies uh we guarantee
15:44full rental income right like they don't have to and we we underwrite our own tenants so they don't
15:50have to worry about hey do i have a bad tenant do i have to take on those legal fees
15:54to evict them
15:55we we take on that risk for them um we also just reduce some of their operational costs right from
16:01um turnovers to maintenance to marketing we kind of handle all that um maintenance is kind of
16:10you cover maintenance well some maintenance right like uh like plumbing and electrical the
16:15the we expect the landlord to do but like small little maintenance issues within the build uh within
16:20the apartment will handle interesting okay and so with that let's talk about management um that you
16:28know this almost sounds i mean i'm sure you have higher turnover than a long-term rental um so it
16:33sounds you know you're in the midterm almost short-term space uh which is management intensive how is the
16:39management for this kind of uh this kind of deal do you have to be on top of your game
16:43um because it's
16:45not like you're running on like an airbnb platform right where everything is kind of done for you let's
16:50say right this is kind of like in-house so you just have to make sure your i's are dotted
16:54t's are
16:55crossed and you're just on top of everything um and making sure you have you know your assistants your
17:01back uh back office support like aligned with you know posting uh your listings managing the inboxes
17:09um and hitting any channel that you know where rentals might be at right because you're really
17:15trying to find rentals every month uh because you know your units are kind of turning over a little
17:20bit quicker than the one year um with that being said though like we probably get around
17:26five new or four turnovers a month so it's not too much um just because there is a value to
17:33our
17:33units for tenants right like the broker fees the fully furnished uh they don't have to put up the
17:40flat swaths themselves um the roommate matching right a lot of people are moving into a lot of
17:46the tenants that we that's actually what i was going to say is you guys i mean you're getting three
17:51strangers together so i'm sure that is part of your process is identifying people who won't you know
17:58rip each other's hair out uh is that is do you have a lot of deal with a lot of
18:02roommate issues or how
18:03does that work um yeah that's like the interesting part sometimes you feel like uh i'm i'm already i'm a
18:09father of three right now and sometimes i feel like i'm somebody else's father uh some of the
18:15it's just like so childish i'm like what do you like guys like for example yesterday um my tenant
18:21base messaged me because uh one of the roommates put a hairball dryer on the couch and they were
18:27upset that they moved it from the coffee table to the couch i'm like what are we arguing about here
18:32guys like talking about moving why am i involved in this conversation yeah yeah um and
18:39like you know i tell these guys that like hey first remediate things amongst yourselves everyone
18:43is a working professional everyone's an adult in the room supposedly um but yeah no like that is one
18:52of the i would say uh more frustrating things about this uh business is just dealing with some of the
18:59nonsense that tenants depending conflict yeah because like yeah i'm sure you've already talked a bit
19:08about your tenant base i mean it's some people it's uh you know working professionals who are there
19:12temporarily uh but you mentioned a lot of your tenant base is younger younger folk who are just
19:18getting there getting their feet under their you know feet under their whatever that phrase yeah yeah
19:23and that maturity level is is so different yeah yeah i can imagine nice man well hey we did uh
19:31we've
19:32run down the clock it is time to jump into the quick question round are you ready yeah let's go
19:38let's do it starts with education could be any form could be a book you've read movie you've seen
19:43conference you've been to uh i just need two recommendations one for general life wisdom and
19:48one for real estate general life wisdom cnbc i i enjoy watching cnbc uh real estate you know that's
19:58a good one i'm still learning myself i discovered a new ai tool that's hyper focused on real estate it's
20:03real ai um and that helps me with a lot of my analysis and just deep diving further into markets
20:10as well nice man i'm always i'm always down for new ai tools i use claude well i haven't a
20:17subscription
20:17to pretty much every single one of them but claude is the one that i use the most often um
20:21and then
20:21perplexity for for research but something that's specifically oriented towards ai i'm definitely down to
20:27to check out um all right next question is for your younger self let's go back to the vanit who
20:32is just getting started who was uh maybe still back at that um you know working at that bank go
20:38back to
20:39him look at me now give him one piece of advice moving forward uh don't listen to people that just
20:44keep saying no to you like you know what you're able to do you know what you're capable of doing
20:49um sometimes the people that keep saying no to you have no idea because they're too afraid
20:55i would extend that and i would say don't listen to anybody unless they've accomplished what you
21:01want to accomplish um unless they've done what you're trying to do don't just don't listen to
21:05them they're uh you know most people you know that the vast majority of people are very well meaning
21:09it's just that they bring their own insecurities their own fears into their conversation with you
21:14and it has nothing to do with reality and so um and if somebody has achieved what you want to
21:19achieve
21:20they'll give you good advice um you know people who are successful they don't want to bring anybody
21:24down they want other people to succeed as well and so you can listen to those people but don't
21:29listen to people who haven't haven't been there yeah for sure all right next question um i'm actually
21:36going to skip this one usually we ask what metro you're most excited about investing in today
21:40but you're in new york and so i'm sure you're going to say new york city actually let's uh let's
21:44dive
21:44into that what area of new york are you most excited about um expanding your portfolio well i
21:50would say i'm in i'm very excited not really in new york but outside of new york in uh jersey
21:56city
21:57um i'm not sure if you're familiar with jersey city uh it's part of jersey city journal square just
22:03got rezoned uh so there's towers that are going up and supposedly by 2050 2060 it will look like time
22:11square um which i think is very interesting because for my my business i'm able to probably
22:18possibly partner with these new landlords that need to stabilize their buildings quicker and since
22:24i have flexible lease terms run by the room that i might be able to help them along the way
22:29and help
22:30myself cool man nice yeah that's uh it's interesting i love um new developments new very large scale
22:37developments are always interesting because they're then the way that they do the planning
22:41um is just you know it's so much better than old zoning and old old uh you know use planning
22:49so
22:49it'll be interesting to see how that works out and these buildings are like 1200 unit buildings
22:55oh geez that's crazy yeah all right next question is about finding deals it all starts with getting in
23:02contact with the seller in your case the landlord what is your favorite way to generate leads and find new
23:06uh new deals um honestly just broker relationships these guys are like tuned into the landlord their
23:14landlord's needs and they have a bunch of different landlords that they work with so and they kind of
23:18do the legwork for you right they kind of do the initial pitching uh say hey you know i worked
23:24with
23:24vinnie on this deal over here and they can kind of use you can use them as a reference as
23:28well right
23:29uh so my main my favorite source is the land uh the broker sorry yeah i feel like that is
23:36very
23:36unique to new york um i here in seattle we do not have brokers for for uh for apartments um
23:42or leasing
23:43apartments and so it's interesting um when you hear somebody from new york and i know that's very
23:48very prevalent there is that you guys have brokers who uh will place people into multifamily and so yeah
23:54it's pretty cool all right next question is about lessons learned not every deal we get into goes the
24:00way we expect it in fact pretty much every time something goes wrong and that's when we get to learn
24:04lessons so what was the deal that went a little bit sideways for you and what was the lesson you
24:08pulled from it um i would say it was my very first tenant i didn't screen them i went by
24:16you know hey
24:18they live in new york city they have to be a working professional uh she stated that her employer's paying
24:23her rent it turned out to be the biggest nightmare of my of this journey but uh as all like
24:30learning less
24:31like you know that challenge of trying to evict that tenant um and they pretty much started abusing
24:38drugs and just so i couldn't even fill the other rooms so i was just sitting on like 6 000
24:44losses every
24:44month um which eats quick and it was during like at the tail end of covid so obviously you know
24:52the
24:52courts are backed up with evictions um so started screening my tenants i didn't really just think like
25:00hey everyone that lives in new york is a working professional yeah yeah that is a mistake you only
25:06make once um i've definitely i think the first the first duplex i bought i had uh just a nightmare
25:13tenant and uh once that happens once you're not gonna let it happen again that's for sure
25:17um and i do want to kind of highlight in there um that kind of falls into the same bucket
25:22as
25:22always do your due diligence always follow your checklist you know this has been echoed across so
25:28many episodes i've told you guys myself that i've made this mistake when you're identifying a
25:33property when you're doing the underwriting when you're doing your due diligence do every single
25:37step make sure you check it off because the one that you don't do is the one that's going to
25:40come
25:40and bite you in the bite you in the ass so yeah all right i'm moving us on to the
25:45very last question
25:47this is for the listeners you've given us a lot to think about i'm sure people want to reach out
25:51get in contact with you this is a two-parter where can they find you and then what can they
25:54expect
25:54when they reach out uh you can just email me um my email is vinit v for victor i n
26:02e e t dot d u t t a
26:06at hive n y dot com awesome i will put that link in the show notes so if y'all
26:13want to reach out all
26:14you got to do is click the little more in the description it's going to pull down that full
26:17description and in there you can find benny's links all right man that wraps it up thank you very
26:23much for our show thanks gabe good talking to you absolutely for everybody who's with us today
26:29thank you guys for showing up you are the reason we do this so if you guys have any questions
26:33reach
26:34out to me gabe with the real estate investing club.com if you guys want to support the show
26:38just leave us a review other than that i hope you guys have a great week keep rocking real estate
26:42and i look forward to seeing you on the next episode
26:45you
26:46you
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