All Forum Posts by: Christopher Urbane

Thanks @Ned Carey.  I had not heard of this option before and will do my homework.  Does this option affect the guarantors credit the same as a cosign? 

Hi Juan,  What was the final outcome of this.  I have a similar question from my mom in regards to helping her refinance.  How did it work out?

Thanks for the quick response Nay.  I was checking out your profile since your one of the few local people.  Let's plan on chatting once the holidays are over since I have folks coming in from out of town.  

I've been lurking and poking around this website for a while now since a guy I kinda know @James Masotti, was interviewed in a podcast and put it on linkedIn.   I had never hear of this website before but of course some of Brandon's motivational videos kept bringing me back.  I had always had roomates since I first had my first apartment to pay at least a fair share of the rent.  I have bought and sold a few primary residences in the past as I have moved around for work. More recently I have rented a few rooms in my house on airBnb and to avoid "transient lodging" taxes, have locked my listing for only 30+ day bookings.  At first I thought this would kill any and all potentiol but I have been quiet lucky to have both rooms booked for about 2/3 of the year.

Being that there is a huge housing shortage around here and property taxes are what I consider to be high for this rural area, the airBnB thing has been kinda nice and I am seriously thinking about buying another property for furnished long term 'corporate' housing to professors, travel nurses, Phd students, etc.  I have had pretty good luck with the kind of people that have rented rooms so far.  I don't really have a business plan ironed out yet, but I haven't really decided yet on my approach yet if it will be something I move into or solely rent out.  Ideally I would like some land and am looking for 4+ bedrooms and of course it would have to be somewhat unique- and close to town!   Yes, I am looking for a unicorn and I want it to be something decent enough that I wouldn't mind living in it either, even if I have to do some work on the place.  Not sure if I want to take on full rehabs.  In addition to that, I have no idea how I'm going to pay for it yet since I don't have the 25% down for a secondary property purchase.

All in all, I guess I am looking to expand my knowledge and experience in real estate investment/management along with meeting cool folks that could be on my team (lawyers, contractors, lendors, etc.) for managing this empire I plan on building.  Right now I have a good friend who helps me with flipping the airBnB rooms for small cut and we regularly discuss having another place with rooms to rent out since it seems like pretty easy money.  I could also have some other 'investors' (ie., girlfriend, and my mom)  throw in some funding for a down payment.  An apartment building is out of my price range and you rarely see duplexes on the market around here.   Until then, I will be holding off saving my dollahs and waiting for what I consider to be the perfect property.  Anyways, feel free if any of you want to reach out, or if your local and want to meet up for a cup of coffee or other adult beverage.  Thanks for taking the time to read and have a great New Year!

My Uncle lives in Bayonne and had a similar issue with a small shed like building he had in the back of his house.  It was made out of some brick but was mostly a falling apart wood structure.  Although I am not a realtor or housing expert, from my understanding it came down to a few different things.  The building structure was up and it was used as a garden house before.  It had beams and a door, and a window along with working electricity.  If he would have torn it down, he could have done it, but then if he wanted to rebuild it at a later date, he would have had to re-apply for permits from the city etc., which from my understanding is very difficult and or costly to do.  To repair it in the same spot, he could have just done the repairs himself which is what he decided to do.  Now he has a fancy garden cabana in his back yard that was essentially a falling down shed when he moved into that house years ago.  Sorry that may not be the answer you were looking for, but I saw your post and it made me think of that experience.

Wow, I've been lurking in these forums for a while now, but I gotta say it. Dude!  That is the best post I have seen on this site. Awesome follow up, great humor, and you are a great writer! I already sent this to a bunch of my friends to read.  Good luck on your project.