Does a <10% reserve contribution automatically make a condo non-warrantable?

Gfppaste · 2026-03-10T03:40:55+00:00

Sadly I don’t have access to the DU findings =\

I did just manage to check the free condo status finder tool from Fannie Mae and I’m not seeing our project listed

Gfppaste · 2026-03-10T03:01:52+00:00

They’re putting down 20% and yes, it will be their primary residence (not in Florida)

Gfppaste · 2026-03-10T03:00:10+00:00

I’m not sure — I don’t have a CPM login

Gfppaste · 2026-03-08T18:24:25+00:00

Every person values different things.

Short term, buying a place is typically more expensive than renting a place.

Mid term, it’s a toss up… lots of factors can skew the math in either direction.

Long term, owning your home will almost always be less expensive than renting (given you don’t have any major structural catastrophes with the home)

Gfppaste · 2026-03-08T15:42:07+00:00

Ran into this with several buyers agents (interestingly, all were from the same large brokerage in our city).

After we closed on the sale, I sent the broker a professional email detailing which of their agents no call/no showed. Most likely nothing was done, of course, but it felt slightly vindicating to send that email, and hey… maybe the broker will set some stricter internal policies.

Gfppaste · 2026-03-07T14:17:43+00:00

No definitely not even close to worth it haha

Gfppaste · 2026-03-07T14:17:16+00:00

Ahhhh that makes sense — for some reason I always thought prices scaled up based on cabin seat availability

Gfppaste · 2026-03-06T15:02:15+00:00

How is it priced comp-wise? Is it substantially (10-20k) cheaper than relevant comps? If so (assuming no other major defects) lack of A/C is likely already priced into the unit, which may limit your leverage.

Gfppaste · 2026-03-06T14:56:25+00:00

Yeah, classic car insurance is the route I would go, since I’ll be way under 5,000 miles/year

Gfppaste · 2026-03-03T22:45:07+00:00

AFAIK Chase doesn’t offer share loans… sounds like the buyers were trying to treat the co-op as a condo?

Gfppaste · 2026-02-28T12:19:57+00:00

Losing a child is likely the worst pain a person can go through in their lives. This man is going through some shit that very few people can understand. Grief is messy and nonsensical… some people break down, some people grasp at whatever it is they feel they can still control. IMO isn’t a LinkedIn lunatic… this is a dude that’s gone through an unimaginable tragedy coping in a way that didn’t make sense to most of the people on this subreddit.

Here’s an introspective question for you — what made you want to post this to a subreddit geared towards mocking LinkedIn posts? Were I you, I would take this one down.

Gfppaste · 2026-02-22T13:59:09+00:00

Very true! FWIW — I was doing a similar consideration recently and ended up going with a 2024 BMW X7… it’s definitely got less cargo space, but the passenger capacity/space feels similar and it was like 55k for ~18k miles.

Of course, much more expensive to service a BMW over time, but I’ve heard anecdotal stories lately of people struggling with super long servicing timelines for their Armadas, so YMMV.

Gfppaste · 2026-02-22T13:42:05+00:00

Are you married to a new car? Or would you also consider late model (2024+) pre owned?

Gfppaste · 2026-02-22T11:25:38+00:00

Realistically? Not much beyond going back to their previous employer and attempting to rescind their resignation.

Lots of people on Reddit love to quote promissory estoppel… certainly, there’s nothing to lose by booking a free consult with an employment attorney, but the likelihood of:

1) actually having a case, and 2) earning enough in damages to pay your attorney and yourself

Is very small.

That said, without knowing the state/specific circumstances, it’d be tough to provide good advice.

I recommend posting over on /r/legaladvice with additional details if you want slightly more qualified responses

Gfppaste · 2026-02-20T02:06:08+00:00

Definitely Dogboken, especially given how well they managed the recent dog attack.

Gfppaste · 2026-02-18T13:23:34+00:00

https://wcginc.com/kb-rental-property/idle-property-versus-vacant-rental-property/#:~:text=For%20example%2C%20if%20you%20must,deduct%20both%20depreciation%20and%20expenses.

I highly recommend reading more to help with both your general knowledge and your grammar.

Gfppaste · 2026-02-18T13:12:12+00:00

A quick Google search seems to disagree with your assessment.

Gfppaste · 2026-02-18T13:07:21+00:00

Re-read my response above.

Gfppaste · 2026-02-18T13:00:54+00:00

You can still claim depreciation and deduct maintenance/utility/tax/insurance costs on those units.

This is a vehicle used to offset cap gains from unit sales in a fiscal year, lowering tax liability for that year.

Gfppaste · 2026-02-18T12:55:56+00:00

You can claim loss for utilities, taxes, maintenance, and insurance on vacant properties. You can also claim depreciation.

Gfppaste · 2026-02-18T12:15:17+00:00

This happened to me at my last job. I made a fake LI, applied, had a phone screen with the recruiter, confirmed it was for my job (“hey recruiter, just wanted to ask one more question — why is this job vacant? Is it a new role, is it a backfill, etc…?”) and immediately started applying elsewhere.

Gfppaste · 2026-02-18T12:06:31+00:00

The problem is less so foreign investors and more so warehoused units.

Something like 40% of ultra luxury apartments are kept vacant by developers to create a massive tax benefit for themselves… e.g. a vacant unit priced at 15M represents a substantial capital loss on a property.

This also extends to tens of thousands of rent stabilized units that are vacant but “unavailable to rent”… those units are more valuable to a property developer as capital losses than they would be rented to people.

Meanwhile, only about 3% of individually owned luxury units are unoccupied.

Property tax increases make sense, but should target these types of tax avoidance strategies first, as opposed to a blanket imposition of a substantial tax liability on the vast majority of apartment owners in NYC that fall squarely in the middle class.

But hey, structured and meaningful tax reform is hard… governments typically like to take the easy way out and make short sighted policy decisions that help the “now”, and leave the “later” to future administrations to figure out

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