[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 \*Use code PODCAST for 40% off –Subscribe to the free weekly newsletter: BuyYourSecondHomeFirst.com/#subscribe  –Visit the website: BuyYourSecondHomeFirst.com –Follow on Instagram and TikTok: @BuyYourSecondHomeFirst –Find us on Substack: SecondHomeFirst.Substack.com  –Say Hi! Hello@BuyYourSecondHomeFirst.com ([mailto:Hello@BuyYourSecondHomeFirst.com](mailto:Hello@BuyYourSecondHomeFirst.com))  **A Special Thank You To Our Sponsors:** Lodgify: https://lodgify.com/?afmc=28y Click the link and enter code HOME20 for an additional 20% off their yearly and bi-yearly plans. Somerled: https://form.jotform.com/252193985491065?howDid=Referral&typeA19=Second%20Home%20First  Use the link provided to schedule your free consultation call. Listeners of SHF also get $1,000 off virtual design & $3,000 off design & project management services. Turno: https://go.turno.com/second\home\first  Use the link provided to get $25 off your first clean. Flytographer: https://www.Flytographer.com/SHF   Use code SHF25 for $25 off your first shoot PriceLabs: https://hello.pricelabs.co/signup/?referral=secondhomefirst  Use code SecondHomeFirst (all one word) for a 30-day free trial, plus $10 off your first invoice