All Forum Posts by: Chris Presto

@Alex Deacon @Melissa McGuire Thank you so much for your input, I value it very much! I was able to find the environmental/municipal impact study for this particular casino construction so THANK YOU very very much for that tip! There is some absolutely stellar information in there. I will certainly tread lightly and do as much due diligence into econ-weather proofing my deals there. 

Thanks @Moshe H. ! Agreed, and there are certainly deals to be had in the area right now. Couple that with the estimated 2,000 new jobs, new municipal jobs (increased FD + PD presence), long term growth and increased quality of life could be sustainable in the area. However, like you said, the goal is always to make economic weather-proof deals!

Hi All!

Would love your help and input on this strategy. 

I've been thinking about investing in, and around, the area where a new casino is being built in Sullivan County, New York. For those not familiar, Sullivan County is about a 90 mile ride North West of NYC, and 95 miles in total to the new Casino.

The casino is scheduled to open in March, 2018 as "Resorts World Catskills." My strategy would include purchasing both SFH's and Smaller MFH's in depressed and surrounding towns like: Thompson, Monticello, Kiamesha Lake, and Ellenville within the next three to six months as the Casino nears completion.

The resort has been described as a "Four Season" resort, with 323 hotel rooms, 130 table games, 2,000+ slots as well as an indoor water park. Other activities like skiing, snowboarding, and a Golf Course for Winter and Summer outings are also contained within the Casino plan. 

I understand the stigma (and clientele) that comes along with a casino. but anyway you slice it, jobs will be brought in, and that is exactly what Sullivan County has needed for decades.

Is anyone actively executing this type of strategy or have opinions/cautions about it? Would love to get your take on this idea. Thank you BP!

Hi All! 

I've been thinking about investing in the Thompson, Monticello, and Ellenville markets as we approach the opening (Tentatively March 2018) of the new Sullivan County Casino: "Resorts World Catskills." The strategy would include purchasing both SFH's and Smaller MFH's within the next three months as the Casino nears completion. The resort has been described as a "Four Season" resort, which would include Skiing, Snowboarding, and a Golf Course for summer activities.

I'm originally from the area (orange county) and used to take trips to the "Nevele Resort" in the 90's and although it was very outdated, it had a charm about it and you really couldn't beat the beautiful mountainscape views.  

I understand the stigma (and clientele) that comes along with a casino. but anyway you slice it, jobs will be brought in, and that is exactly what Sullivan County needs. 

Is anyone actively executing this strategy or have opinions/cautions about it? 

@Brian Garrett Not a problem at all, let me reach out to him and get you two connected. Send me a PM with your email address if you don't mind, my friend currently is not on BP unfortunately.

@Charles Hura awesome man! Would love to grab coffee or a beer sometime and chat about the markets up there. Would love to get your advice on team building in the area. 

@Tim Kirchner much appreciated, I actually have a buddy who invests in the Jupiter Beach area, would love to connect you two. He has 3 cashflowing condo's currently and is looking to expand a bit. Shoot me a PM and I can introduce you guys. 

 Hey thanks so much Aqil. Would love to chat about the ROC market sometime!