Jun 13, 2017
Interview with Daniel Gershburg
Hosted by Nate Pfaff
Daniel Gershburg started his own law firm right out of New York Law. After growing up in south Brooklyn, Daniel started his company in Sheepshead Bay and later moved his office to Downtown Manhattan. He’s covered every angle of real estate transactions, which account for 95% of his business. He came to focus primarily on real estate because he saw an opportunity to represent people that are really excited to buy or sell their home and build strong relationships with clients.
He observed an opening in the real estate attorney field because he saw most attorneys looking for volume and speed as opposed to fully committing to their clients and taking them through each step of the buying or selling process. He says that many clients don’t look past the price, but there are major differences between different attorneys and it’s important for a client to inquire about availability and be clear about whether or not the attorney will be fully accessible.
In terms of investing in New York real estate, he sees anywhere in Brooklyn as a smart location to park your money. He knows developers who are pushing into south Brooklyn and he still sees the established areas like Brooklyn Heights and Williamsburg as good options. He thinks the best investment is one where you buy and intend on living there for a long time. He doesn’t see buying on an interest-only mortgage as wise option.
If he could go back to the beginning of his career, he would love to be a real estate broker because he sees the entrepreneurial, service industry as doing really well over the coming decades. He’s noticed that successful agents have no ego and are quite humble. The really good agents are completely honest with their clients and tell them why a deal may or may not be good for them.
Regardless of what field you get into, Daniel sees hustling as essential for success. He also sees real-world reviews as much more valuable than online reviews. Building honest, meaningful relationships are at the heart of his business model.
Some of his favorite restaurants in Brooklyn are Randazzo's for seafood, Roll-n-Roasters for sandwiches, and L & B Spumoni Gardens pizza, which he says is “the best pizza in the world”. He highly recommends the books of Nassim Taleb, as well as Letters From a Merchant To His Son, published originally in 1901. He also recommends reading the annual letters of Warren Buffett.
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