All Forum Posts by: Tony Guarino
Tony Guarino has started 5 posts and replied 26 times.
Post: Self Storage- Italy Amalfi to Rome????
- Posts 27
- Votes 17
Quote from @Henry Clark:
@Tony Guarino. You never turn off your business eye.
Hoarding isn’t a reason for Self storage. Normally death, divorce, fire, water damage, buying selling homes, etc. True of all people.
What is different about Italy thus far is the number of abandoned houses. They are or can be used for storage. Might have to build near cities that have higher building occupancy percentages.
Also never turn off my learning eye. Appreciate your insite!
Post: Self Storage- Italy Amalfi to Rome????
- Posts 27
- Votes 17
It sounds like you need to have a secretary record minutes at one of your 'business meetings' there. I will gladly apply for that job!
I'm curious on your fascination on SS in Europe. The culture is a bit different there and perhaps why you don't see too much self storage. Older towns already developed, maybe less of a hoarder culture. Do you see a market for it while your there?
Post: Part Time Underwriting Jobs?
- Posts 27
- Votes 17
Hey everyone,
I quit my job as a commercial loan underwriter in the middle of 2022. I hit a glass ceiling and wasn't growing as fast as I would have liked. I made a few good investments and had the ability to start traveling a bit. I had the idea of continuing to work as an underwriter, but want to avoid the 9-5 life with PTO, and ideally, I would love to work remotely.
Has anyone heard of any opportunities like this? A part time, remote, CRE underwriting position? I tried looking on the web but just couldn't find anything that wasn't full time, 10 PTO days, etc.
Any advice on where to look would be greatly appreciated!
Post: Part Time Underwriting Jobs?
- Posts 27
- Votes 17
Hey everyone,
I quit my job as a commercial loan underwriter in the middle of 2022. I hit a glass ceiling and wasn't growing as fast as I would have liked. I made a few good investments and had the ability to start traveling a bit. I had the idea of continuing to work as an underwriter, but want to avoid the 9-5 life with PTO, and ideally, I would love to work remotely.
Has anyone heard of any opportunities like this? A part time, remote, CRE underwriting position? I tried looking on the web but just couldn't find anything that wasn't full time, 10 PTO days, etc.
Any advice on where to look would be greatly appreciated!
Post: Making #s work in New Jersey (Bergen/Hudson County)
- Posts 27
- Votes 17
Originally posted by @Mike Adams:
Originally posted by @Joseph Guzzardi Jr:
@Mike Adams 2-4 unit properties aren't really appraised or valued based off of rents/income. They are typically based off of other comparables. The income is really just a small percentage of the picture. 5+ units it's a different story
By all means. If you know of any deals in 3 unit or higher non rent controlled buildings, I'd be interested. Mostly Bergen, Hudson and Passaic Counties. Essex county's taxes are ridiculous.
I think what Joseph is trying to say is that anything from 5 units and up are evaluated differently. Instead of using comparable sales, they use the income approach to determine value. For example if a property grosses (x) and has property specific expenses of (y). X-Y= Net Income. Then the net income is divided by the cap rate to determine it's value. Commercial real estate is a different game.
P.s. I feel your pain. I have the same problem in South Florida. Even now the commercial markets in Miami are starting to see ridiculously low cap rates.
@Christina Jean-Francois Congrats on graduating! I don't have any experience with seller financing, but you might be able to get an FHA loan....
I don't know the exact rules, but if you get a job soon after graduating, you only need to be employed for 3 months to qualify. (This is how I bought my first duplex) Plus you only need 3.5% down. The only downside to FHA is that you have Mortgage insurance for the life of the loan, or until you refinance.
Good Luck!