What the fuck does it mean to build cheap apartments? Anything brand new in providence is by default luxury because everything else is old as shit.

We need more housing period. Please just fucking build something.

7%+ on the note though?!?

Thanks!

We got exceptionally lucky; just right place/right time to get what we did. The roof has to be done sooner than later, but otherwise the bones of the house are in good shape (furnace, water heater, etc). It’s definitely a tough market, but all I can say is hang in there, and something will find it’s way to you

... look into buying a two family and rent the second apt. Their rent pays for most of your mortgage. Then save for a few years and buy a single family when the market settles and you're in a better financial place.

Woonsocket or Foster

Like u/captain_carrot, I know someone that works for them.

Don’t want to give any details, it’s a small state and a small company and they’ve been getting rid of staff like crazy. But the numbers he’s throwing out are very similar to what I’ve heard. They’re overdue on a lot of “final collection notice” payments.

Weirdo

Bleak

How are Society is currently set up? Yes, they prefer you just rent forever.

Came here to say this. I have so many omg only in Woonsocket moments

I’m gonna need to see the final product (Cincy boy here)

I’ve seen plenty of homes sell for less than that in Elmhurst and Mt. Pleasant.

West Warwick.

That’s awesome - congrats to you and the fiancé on the new house!

We’re definitely not opposed to putting in some work like what you’ve described but also don’t want a major fixer upper either, which unfortunately seems like what’s out there currently. Inventory is just awful right now 😭

Definitely Woonsocket...

DeLuise Bakery!!!!!!!!!!!

Thank you!!!

Just a little to rural for what we’re looking for unfortunately but I appreciate the comment! We live in PVD now and work in the city so we’re hoping to end up somewhere Providence-adjacent (ideally Cranston!)

User name scatman are your going to play with that pizza after it comes out digested?

This is pretty typical for how large construction firms fail. If you’re slow / no paying vendors you’re way beyond just job borrow. The thing that surprises me the most here is that their surety holder is loaning them money.

Surety companies are not usually in the business of taking on risk, and usually are looking to make sure the surety they’re providing is fully collateralized. If the bond holder defaults they liquidate collateral to pay the bond. The fact that they’re only now identifying assets that could collateralize bonds is concerning, as is the fact that the surety firm is loaning them money. In theory a bond holder’s default shouldn’t financially impact the surety agent, and so there’s no incentive to lend money to an ailing firm that already can’t meet its financial obligations. But if you’ve been lazy or generous with collateral asset valuations, you might suddenly find that you have a bunch of undercollateralized obligations that you might need to pay on. So maybe you loan the construction company money to close a bunch of bonds and leave someone else holding the bag.

Either way, some companies recover, some companies go from “everything’s fine and solvent” to “bankruptcy” in a few days, and there’s a lot in the middle.

Woonsocket

Coventry. Oh yeah, who don’t already know?

Is Jeanette’s still open? Off of branch Ave in providence?

That’s good news! For parcel 9, I think a more modest design that would fit in the neighborhood would be great. However, the current design has way too many units which will create a ton of traffic and is ugly.

Warwick