All Forum Posts by: Alex Furini

@Robert Myjak,

@Zackary C Dunn has some great advice. Depending on your area, your local building inspectors may have some good advice for you. Also your local building department may have homeowner nights where you can go and ask any questions you have regarding the process of filing, permits, construction process, etc. for free.

As Zackary also mentioned, YOUTUBE is an amazing resource for learning the ins and outs of basically any home renovation project. I cannot even count how many hours over the years I have spent on YOUTUBE watching videos of the exact construction issue/solution I was looking for. Even if your proficient, its great to review other techniques to see where you can improve. The internet is a great resource and more than likely someone has done and uploaded an instructional video of exactly what you are looking for.

Best of luck with your project!

Alex Furini, RA 

@Kate Kunkel, HELOCs are great ways to take advantage of built equity in a property. As you stated, Co-ops can be tricky as most banks do not lend on them. There may be a few banks to try from the forum post below, which is along the same lines as your post.

That being said, if a HELOC is not possible, a cash out refinance might be another option. In my opinion, a HELOC is great because its always there, but you dont have to utilize it immediately. A cash out refinance means you are taking on a larger mortgage payment with the extra cash in your bank from day one.

https://www.biggerpockets.com/forums/49/topics/309306-heloc-on-coop-apartment

Best of Luck!

Alex Furini, RA

@Smith Ramirez, Check out the Education tab on Bigger Pockets, there are many resources which help you get a well rounded understanding of how to do exactly this. Check out the guides section in particular, but there are tons of other helpful resources on this site.

Best of Luck!

Alex Furini, RA

@Randy E.

@Randy E. is 100% correct. You need to level all the bids so that you can compare apples to apples. Without this level of detail, you will never be able to effectively evaluate the bids. Additionally a good rule of thumb is always get at least 3 bids. Do not take the lower just because it is lower. Look at the reputation of the contractor, get references from previous clients, and review the materials they are proposing to use. Some contractors will list cheaper materials with a lower bid to get the job. Afterwards they issue change orders to you for the additional cost of materials not included in the contract. A good contractor will be upfront about the costs and probably not the cheapest in the initial bids.

Best of Luck with your project,

Alex Furini, RA

@Adnan Dizdarevic, Im not sure if the property in question is in NYC. If it is, there are many factors which will determine if the Department of Buildings would approve the change of use. If allowed, it would be an Alteration Type 1 which will take a decent amount of time to get through the system. You will need sprinklers.

Feel free to reach out directly if you have additional questions.

Best of luck

Alex Furini, RA

@Killian Ankers, In my area of Brooklyn which is full of young professionals, I find it much easier to fill 2 bedroom units than 3 bedroom units. More people have one roommate they are looking with rather than two roomates. It is really location/population specific. If your area attracts families then this will be completely different. You need to research the area and determine the typical renter profile for the neighborhood. In the end it might be harder to rent a 3 bedroom, but the rent amounts are greater.

Best of Luck

Alex Furini, RA

@Charlie Magnan, First, you would need to determine if the zoning of the property allows for residential use and what type of residential. If it is allowed, you then need to evaulate what alterations would be required in order to comply with the change of use. I recommend finding a local architect to do a feasibility report to review the property for you.

Best of Luck

Alex Furini, RA

@Ryan Judy, If he is a registered Architect with your state, then the drawings should meet the local code and zoning. We work in a very complicated field with zoning, code, and many other jurisdiction overlays. We dont guarantee perfections and will have oversights just like any other human. That being said the Architects are to provide a "Standard of Care" which should be outlined in your contract. Standard AIA verbage below.

"The Architect shall perform its services consistent with the professional skill and care ordinarily provided by architects practicing in the same or similar locality under the same or similar circumstances."

If the drawings don't meet code, it is up to us to fix them to comply with the standard of care. That would mean part of the base fee. Please note that Architects do not guarantee approval by the Authority having jurisdiction.(Building Department.) 

Please note, the above is just general information regarding the practice of architecture. Not being intimately involved in your specific situation, it is impossible to know all the facts that led to the current situation and does not constitute an opinion of fault.

Good luck with your project,

Alex Furini, RA

@Ryan Judy, I am not sure about the code and zoning restrictions in your jurisdiction, but from my experience on similar projects in NYC sprinklers were required among many other additions. I'm guessing doing a project like this in Mass. is less involved than where I am located. However, there are many issues that need to be reviewed to determine if this is possible and what alterations will be required to comply with code and zoning. Your best bet would be to contact a local Registered Architect to do a zoning and feasibility study for you.

Best of Luck with your project,

Alex Furini, RA

@Basanta Khanal,

@Ronan Donnelly is correct. I would only add that:

1.) Prefab is a great way to help achieve passive house. Creating building components in a controlled factory setting allows for greater quality control. This is almost essential when attempting to achieve the air infiltration and insulation levels passive house certification requires.

2.) I know of prefab passive house manufacturers who also work with the clients to attain the financing since it is a very unique situation.

As with anything which is not the standard construction practice, there will be more hurdles and potential headaches. Building a house at this level of efficiency is always going to be more involved but the reward/payoff is amazing. I commend you for aiming high. Feel free to reach out if you have additional questions.

Good luck with your project.

Alex Furini, RA