{"id":4461,"date":"2019-01-09T15:40:14","date_gmt":"2019-01-09T15:40:14","guid":{"rendered":"http:\/\/leeassociatesnyc.com\/?post_type=post&p=4461"},"modified":"2019-01-09T15:40:14","modified_gmt":"2019-01-09T15:40:14","slug":"real-estate-side-gigs-by-the-real-deal","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/new-york\/2019\/01\/09\/real-estate-side-gigs-by-the-real-deal\/","title":{"rendered":"Real Estate Side Gigs by The Real Deal"},"content":{"rendered":"

In a recent article from The Real Deal, Lee & Associates NYC President, James Wacht, talks real estate side gigs and explains how he stays an active investor in projects outside of the real estate world.<\/p>\n

 <\/p>\n

From the article:<\/h3>\n

<\/p>\n

Seeking green, from fitness to grooming<\/b><\/span><\/p>\n

\"\"As a landlord and property manager, Lee &\u00a0Associates NYC\u2019s James Wacht had always been skeptical of franchises.<\/span><\/p>\n

That was until two years ago, when his son, Evan, who is trained as a teacher,\u00a0told him about My Gym, a popular gymnastics chain for children that had 450 locations worldwide \u2014\u00a0but none in Brooklyn.As a landlord and property manager, Lee &<\/span>\u00a0Associates NYC\u2019s James Wacht had always been skeptical of franchises.<\/p>\n

In February 2017, father and son acquired territorial rights to franchise My Gym in Brooklyn and the Hamptons. Wacht declined to disclose the size of their investment \u2014\u00a0he and Evan are 50-50 partners \u2014\u00a0but public information shows that My Gym charges franchisees a $25,000 fee for one location. Royalties are 7 percent of revenue.<\/span><\/p>\n

The Wachts opened their first location, a 3,600-square-foot space in Park Slope, in May 2018 and recently signed a lease for another space in Cobble Hill. Wacht said he was heavily involved in lease negotiations and construction, but his son handles day-to-day operations, like working with kids and their parents. \u201cI wouldn\u2019t have the patience to do what he does. I\u2019d quit,\u201d Wacht joked.<\/span><\/p>\n

My Gym is just one of Wacht\u2019s investments. Over the years, he\u2019s backed a chain of bagel shops, and he is currently an investor in Barber Surgeons Guild, a high-end men\u2019s hair salon expanding from Los Angeles to New York. He said he met the salon\u2019s principal, Dr. Justin Rome, through Rome\u2019s brother, who was Wacht\u2019s physical therapist.<\/span><\/p>\n

\u201cI look for alternative investments besides real estate,\u201d said Wacht, who has grown Lee NYC to 85 brokers from 20 in the last six years. \u201cIt\u2019s not always about the money. It\u2019s interesting. It\u2019s also diversification. You can\u2019t have all your assets in one asset type.\u201d<\/p>\n

<\/i>
\nClick here to read the full article from The Real Deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In a recent article from The Real Deal, Lee & Associates NYC President, James Wacht, talks real estate side gigs and explains how he stays an active investor in projects outside of the real estate world.   From the article: Seeking green, from fitness to grooming As a landlord and property manager, Lee &\u00a0Associates NYC\u2019s James Wacht had always been skeptical of franchises. That was until two years ago, when his son, Evan, who is…<\/p>\n","protected":false},"author":203,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,27],"tags":[],"class_list":["post-4461","post","type-post","status-publish","format-standard","hentry","category-insights","category-press"],"yoast_head":"\nReal Estate Side Gigs by The Real Deal - Lee & Associates New York City<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/new-york\/2019\/01\/09\/real-estate-side-gigs-by-the-real-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Side Gigs by The Real Deal\" \/>\n<meta property=\"og:description\" content=\"In a recent article from The Real Deal, Lee & Associates NYC President, James Wacht, talks real estate side gigs and explains how he stays an active investor in projects outside of the real estate world.   From the article: Seeking green, from fitness to grooming As a landlord and property manager, Lee &\u00a0Associates NYC\u2019s James Wacht had always been skeptical of franchises. 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