Apartments

[Anonymous No.26257109]

I recently bought a large commercial building, 8000 square foot downstairs and upstairs. The upstairs is mostly an open floor plan with a few offices up there, however I plan to convert it over to apartments and I am not sure which would be the best route.

>5 studio apartments at 750sq. ft each for $800 a month
or
>2 double bedroom apartments at ~1100 sq. ft each at $1050 each
>2 studios at $800 each

Obviously the first is more money, however it shoes you into studio apartments only, as well as having to maintain another dwelling and deal with that headache. So I am personally inclined to do the second option since it would also cost less to remodel 4 compared to 5 apartments.

[Anonymous No.26257185]

>>26257109
Based and landchad pilled.

[Anonymous No.26257276]

>>26257109
First one of course. Rent one to a group of escorts and enjoy "benefits" lol

[Anonymous No.26257410]

>>26257276
what this anon said

[Anonymous No.26257428]

you are an idiot

[Anonymous No.26257523]

>>26257428
>t. no rentals

>>26257410
>>26257276
kek me and my friends talk about doing this all the time. Luckily none of us have taken that leap

[Anonymous No.26258132]

Landlords get the rope first

[Anonymous No.26258254]

>>26257109
The real question is - what is more in demand in your market?

I would lean towards the second option for diversity of unit size and 1 less unit to convert/maintain, personally.

[Anonymous No.26258377]

>>26258254
That is my thinking exactly, however I also dont really want families with small kids in there shitting up the place. So if I keep them all studio I eliminate that risk. However where I live 750 sq. ft. is a bit on the small side.

[REEEE No.26258558]

depends of the location of building. If there are some universities or business parks nearby, studios will be better for young people but if it is a suburb will be easier to rent it to families so bigger one.
But if you gonna do this make sure that you will isolate acoustically those walls

[Anonymous No.26258624]

>>26257109
Good luck getting permits to convert it lmao.

[Anonymous No.26258712]

Depends who you want renting the place.

If you do single studios you'll get single people

If you do double bedroom you'll get families.


I would recommend the first choice

[Anonymous No.26258915]

>>26258624
Permits would be no issue.

>>26258558
Definetly would have to insulate them well so you would not have people complaining constantly. If I go with the 4 apartment plan it would be set up in such a way that there would only be 1 wall shared between 2 apartments.

[Anonymous No.26259326]

>>26258915
Permits will be an issue.

[Anonymous No.26259409]

>>26257428
>>26258132
Kill yourselves commies.

>>26258915
Where did you buy this such that permits aren't an issue? If it literally is that easy, to just buy a commercial building and convert it, I want in too, fren.

[Anonymous No.26259614]

>>26259409
>>26259326
Being friends with the town manager helps, not to mention the top of the building is already listed as “residential”

[Anonymous No.26259660]

>>26257109
with gradual erosion of small businesses and the destruction of white collar jobs is this the future, will housing return to the high street again? its a great idea to get in early.

>>26259326
why would they be an issue?

[Anonymous No.26259704]

>>26258377
>he thinks families do more damage than studio dwellers

[Anonymous No.26259806]

>>26257109
could be smaller

[Anonymous No.26259853]

>>26259806
Why bother wasting all that space for a toilet. Just piss and shit directly into the shower. A little waffle stomp never hurt anybody.

[Anonymous No.26259859]

>>26259704
it is harder to evict the family

[Anonymous No.26259913]

>>26257109
Your first step is seeing if youre even allowed to rezone this property from commercial to residential. The you have to secure the require permits. You can't just turn an office into apartments on a whim.

[Anonymous No.26259961]

>>26259913
>>26259614
Didn't read this, if it's zoned as residential already then you should be fine. But if it's not, they will literally fine you every single day you have tenants there until you remove all the renovations you made

[Anonymous No.26259962]

>>26259853
could use poop masher

[Anonymous No.26260100]

>>26257109
gratz OP!

[Anonymous No.26260128]

>>26259806
Love this one

[Anonymous No.26260166]

>>26259961
I'm not reading the thread but is OP one of these guys that buys commercial and tries to use it as residential? haha

[Anonymous No.26260270]

Kitchen/appliances/bathroom is the most annoying part of rental maintenance imo, and you're multiplying them with studios with less $ per unit. But then again you get a bit more money per individual. I'm not sure how the math works out. I think I'd go for 2-beds however possible.

[Anonymous No.26260276]

>>26259806
FTFY
>lease special now starting at a low $2299/mo!

[Anonymous No.26260364]

>>26257109
you will never legally convert it to residential

[Anonymous No.26260487]

>>26260270
>beds in commercial

[Anonymous No.26260497]

>>26260364
>not reading the thread>>26259614

[Anonymous No.26260758]

>>26260497
well then I hope it will work.

There is a reason why commercial buildings are much cheaper then residential.

[Anonymous No.26260909]

>>26260758
>There is a reason why commercial buildings are much cheaper then residential.

I have 5 residential properties and so far this commercial one has been way easier to deal with. The downstairs storefronts have tenants that have been there for 5+ years, that alone pays my loan bill for the building. Adding in the apartments will be an additional ~$50,000 a year income.

[Anonymous No.26261054]

>>26260909
Good luck bro. I have been eyeing commercial property since residential properties scare the fuck out of me.

[Anonymous No.26261281]

>>26257109
I wonder how many pods you can squeeze there

[Anonymous No.26261394]

>>26261281
There's 8 beds in that photo which is $9,600 a month lmao

[Anonymous No.26261487]

>>26261281
i bet they dont even needed to convert that space to residential, as its more like something like a hostel

[Anonymous No.26261627]

>>26257428
Seethe harder rentfags. Nobody cares about the media eviction scare and OP will make money telling faggots like yourself their rent's due.

[Anonymous No.26261820]

>>26261281
Holy fuck they don't even have curtains.

[Anonymous No.26261838]

>>26261627
OP will get raped for using commercial as residential

[Anonymous No.26262184]

>>26261281
Imagine the smell

[Anonymous No.26262214]

>>26262184
based smell anon

[Anonymous No.26262276]

>>26261487
Fuck that's actually genius

[Anonymous No.26262481]

>>26259859
This. I speak with authorities who evict people in my country, and one of them once told me a crazy story, where a woman threatened to throw his baby out of the window if the police entered to remove her.

[Anonymous No.26262494]

>>26261838
see>>26259614

All of downtown is zoned for "dwellings above retail" so there is no issue for that.

[Anonymous No.26262554]

>>26261820
Even Japs have a sense of privacy with their capsule shit.

[Anonymous No.26262565]

>>26257109
WTF 800 month for a 69 sq Meters dept...you burgerbots are fucked......

[Anonymous No.26263011]

>>26262565
Where do you live?

[Anonymous No.26263216]

>>26263011
on a super mario 3d world country 100 USD for a 1723 sq feet dept. for wage comparission im a professional living with a wage equivalent to a qualified operator on the USA.

[Anonymous No.26263258]

>>26257109
2brs invite families to rent, and all the chaos that comes with relationshit and children. You preferably want all your renters to be 20yo single white female government employees, so you can just collect a paycheck and never worry about avout your tenants punching through the walls, smearing shit on the ceiling, dealing crack, etc. So go with the studios for sure.

[Anonymous No.26263643]

Why are families so bad? I figured they’d be easier to deal with.

[Anonymous No.26263717]

>>26262565
$800/mo for 750 Sq ft is cheap in most of USA. Stop being poor

[Anonymous No.26263942]

>>26257109
What metro area? Can I rent from you OP? I want to move out of Jew York

[Anonymous No.26264312]

>>26263258
this guy gets it.

Basically only rent to government employees and you will never have to worry about paychecks

[Anonymous No.26264390]

>>26263942
an extremely small town in NC

>>26264312
>government employees
>mostly black
ehhhhhh

[Anonymous No.26264591]

>>26264390
That sounds like a lot... there are cheaper apartments in the sticks of upstate NY... people upstate are fucking assholes though and hate city slickers. what is the quality of life like down there? Friendly white people? Would I be welcomed as a neighbor in your community?

[Anonymous No.26264798]

>>26264591
Depends if you act like a typically yankee asshole, and generally speaking people from NYC are horrible humans. That being said I have customers who come in my store from up state NYS and they’re cool. It is slightly elevated for the area but I raised it to keep out the tweekers

[Anonymous No.26264858]

>>26257109
one thing to look into or consider is that financing will probably be easier and have lower fees with the four unit vs five unit, or it will at least be two different types of loans, because 4 units qualifies as small income and 5 units would be classed as multifamily. don’t know what the implications of this would be at the current time or in your case. Also make sure to consider parking, nobody asked you about that yet. If you have good parking it may be worth eventually turning it into a condo if the market improves to that extent in the area but it all depends. The 4 vs 5 unit thing as it reates to financing is big though, have you talked to banks about this or do you not want/need to have financing?

[Anonymous No.26265164]

>>26257109
A mix obviously. 1x 1 bedroom, 1x twin bedroom, 3 studios. A good architect could get a floor plan that supports that. 750 sq ft for studio apartments is excessive, especially since your rents are quite low, more units, more revenue.

Your studios are likely to have higher occupancy turn over, so the double and single apartments will help keep occupancy rates more consistent.

[Anonymous No.26265169]

>>26264798
When I lived upstate my landlord loved me. Rent always paid on time, apartment kept tidy, always pleasant interactions. I cleaned the entire apartment after moving out too and got my full deposit back. And yes downstate people are also assholes in their own way but that leads to a lot of prejudice upstate which means people automatically don't like me when they hear my accent or see how I'm dressed. I got kicked out of a bar once just for being from out of town

[Anonymous No.26265307]

>>26265169
>I got kicked out of a bar once just for being from out of town
Genuinely interested: how did it work?

[Anonymous No.26265342]

>>26265169
>or see how I'm dressed
>I got kicked out of a bar once just for being from out of town
Are you a tranny?

[Anonymous No.26265357]

>>26265164
Families are harder to evict so bear that in mind, that's why i'd rather have a 1 bed for a single professional to live in that i could also charge more than a studio for.

[Anonymous No.26265381]

>>26257109
Ahh yes
I too love shitting, eating, and sleeping in the same room

[Anonymous No.26265663]

>>26265307
So the full story is a bit more complicated, but some local friends invited me and a girl who was also from downstate out to a bar that turned out to actually be a biker clubhouse. None of my friends were members of this club but they hung out there all the time. Once this girl and i walked in people automatically started grilling us. Some lady who was drinking there started yelling at us from across the bar and then the bartender came over and said it would be best if we just left. The justification was that we weren't members but that was obviously bullshit because my friends weren't members either and had been there for hours.

[Anonymous No.26266038]

>>26265342
Not a tranny, but if you're dressed up like a hipster in camo country you stand out a bit

[Anonymous No.26266093]

>>26257109
Bathroom should be AWAY from kitchen, otherwise you are gonna smell stinkies while eating

[Anonymous No.26266135]

>>26266093
Wrong, plumbing costs.

[Anonymous No.26266244]

>>26265663
>grilling us.
Sorry, I'm not a native English speaker; what does it mean?

[Anonymous No.26266287]

>>26266093
steamy

creamy

dreamy

[Anonymous No.26266497]

>>26266244
Depending on the context it means either staring at someone in a very unfriendly/suspicious way or interrogating someone in a very unfriendly/suspicious way. Basically it means giving someone the impression that you do not like or trust them. In the context I used they were grilling us by staring the moment we walked inside.

[Anonymous No.26266825]

>>26266244
>>26266497
I grew up with this word and I'm not sure if it's NYC regional slang or not, so I would advise against using it if you're learning English as a second language because there's a good chance most people aren't familiar with it

[Anonymous No.26267626]

>>26266244
It means they put you on a barbecue and roast you