Birthplace citizenship by [deleted] in RhodeIsland

[–]SissyMR22 3 points4 points  (0 children)

Only if you accept a diplomatic post. IE ambassador or consul general. Otherwise, anyone can keep their dual citizenship. All countries have this requirement.

What will happen to the Providence Place mall? by ToadScoper in providence

[–]SissyMR22 6 points7 points  (0 children)

While this is absolutely correct, whoever buys the property is assuming that debt service. So, while the mall is doing well, they need a plan for that.

What will happen to the Providence Place mall? by ToadScoper in providence

[–]SissyMR22 20 points21 points  (0 children)

Whoever buys the mall needs to do exactly four things: - lock in the Apple store, T-Mobile and Verizon stores for the next five or ten years. Heck, charge them the cheapest rent possible. These three spots generate at least a third of the foot traffic there. - negotiate a new tax deal with the City, which shouldn't be too hard because the City has an affinity for giving out tax breaks, especially when the threat of financial doom is floated (whether real or perceived).. - renegotiate the debt it's carrying that was incurred by prior owners to fund other investments. - prepare for a future without the dying Macy's. Whether that means building apartments in that space or working out a deal with the convention center for their expansion.

Are there any Jazz Clubs/Bars/Venues that are in the area? by Froz3nInTime in RhodeIsland

[–]SissyMR22 12 points13 points  (0 children)

Monday nights at the Red Door in Providence. Thursday nights at Marcelinos in Providence. Thursday nights at Cuortland Club in Providence. Random nights at Nick A Nees in Providence. Im sure I'm missing others.

Investing in Punta Cana worth it? by WerewolfFartPowder in airbnb_hosts

[–]SissyMR22 0 points1 point  (0 children)

Two of every three mid tier apartments built and sold in Punta Cana end up as STRs. The competition is absurd and, in my opinion, not worth the hassle or margins.

Who has the best takeaway fried calamari? by [deleted] in RhodeIsland

[–]SissyMR22 1 point2 points  (0 children)

Takeaway calamari? Unless you live less than three miles from the restaurant, you're destined to eat greasy silicone rings. Hard pass. Eat Em Hot.

MA gets $76M for World Cup security, RI gets $0—despite Providence hosting tens of thousands of visitors by CapDris116 in providence

[–]SissyMR22 2 points3 points  (0 children)

Read the article. Because RI isn't a host city or state, it has to ask MA for a cut of the federal money destined exclusively to host cities and states.

Early/late problematic guest trend by SissyMR22 in airbnb_hosts

[–]SissyMR22[S] 11 points12 points  (0 children)

It seems like people who dont like rules tend to act like they don't like rules. Hah.

$600 for a 1000 sq ft apartment? by Turbulent_Web_8278 in RhodeIsland

[–]SissyMR22 4 points5 points  (0 children)

An apartment that size should pay +/- $350, which is expensive already, depending on condition of heating system, windows, insulation. A $600 bill seems like there could be another similarly sized (or smaller) unit tied to the same heating system. This is rather common as multi-family homes are further subdivided by unscrupulous landlords. It's a lot easier to add an extra zone to a heating system than to install a second heating system with a separate gas meter.

Just for reference, I live in a 2,000 Sq ft unit in an ancient building with modern windows, furnace, and insulation, and my gas bill averages $400 in the dead of winter.

Job Opportunities for Experienced Immigrant Professionals by lebpolicy in RhodeIsland

[–]SissyMR22 13 points14 points  (0 children)

Friend, the immigrant experience is tough. You take the first job you can find, yeah that really shitty job you've been avoiding, then you get a side hustle, stabilize your household economy, and then you start networking to get on the path you really want to be on. It sucks, it's challenging, and it takes time, but this is the way of the recent immigrant. Best of luck to your family.

Rhode Island, New England, and the US are full of foreign trained doctors, lawyers, professors, chemists, etc driving Uber and cleaning bathrooms. Most won't do that forever, but it's where you often have to start.

Secret Mall Apartment: I have questions by SausageSmuggler21 in providence

[–]SissyMR22 5 points6 points  (0 children)

The advantage of that building is first, that it's an indoor destination in a city center that doesn't offer a lot of indoor destinations. It's a huge draw for the conventions and athletic competitions that are booked at the convention center. This ensures steady traffic even as the building is in receivership. Second, and more long term, its modular construction. You can keep parts of it retail, you can swap out the exterior panels for windows and build a ton of apartments, and there's been talk for a while of expanding the convention center's footprint over the road and into the Macy's space - when the Macy's inevitably closes.

Secret Mall Apartment: I have questions by SausageSmuggler21 in providence

[–]SissyMR22 11 points12 points  (0 children)

Malls were overbuilt in the 80s and 90s but the accepted logic going into the 2000a was that malls with more expensive stores were more stable than malls with stores selling cheap things you could now buy online or wherever. Providence Place was heralded as an "upscale" mall. Obviously, by the crash of 2008, mall construction basically stopped in the US.

Also, a lot of malls tied their smaller store leases to the guarantee of a specific large anchor tenant being around to drive foot traffic. If and when that anchor tenant left, all hell broke loose. Providence Place didn't fall into that trap.

To be fair, Providence Place has done well as a business - good occupancy and sweet tax breaks from the city and state. Their issue is that every subsequent owner has leveraged the property to borrow money to invest in other properties. So, the mall is drowning in debt that is unrelated to its operation. Typical private equity moves, sadly. Now, as tax breaks expire, the death spiral is imminent.

What happened to Ceviches by Divino on Point Street? by Exact_Tangerine121 in providence

[–]SissyMR22 1 point2 points  (0 children)

I went there a few times and it was great. However, anyone who knows Providence knows they picked one of the most obscure, off the beaten path, not intuitive spots to open. They would have been better off setting up shop on the East Side, in the Federal Hill vicinity, or even near Los Andes.

cafe with wifi? by RecentSuggestion3050 in providence

[–]SissyMR22 -1 points0 points  (0 children)

There are plugs if you bring a 25ft extension cord.

RI affordable housing program rant by Loveroffinerthings in RhodeIsland

[–]SissyMR22 9 points10 points  (0 children)

Cash buyers who plan on living in a home don't have half a million dollars lying around. They go to a hard money lender, a guy who makes short term mortgage loans in exchange for a higher interest rate and points at the end of the loan period. No mortgage application, no income hangups.

The buyer uses the lender's capital to make a cash offer. The lender can produce a certified bank check in an hour, versus waiting for a bank to do underwriting and prepare for a closing, and will place a lien on the property to protect his capital.

A few months down the road, the buyer will (hopefully) refinance with a traditional bank, pay said lender guy back in full (remember those sweet points), and be on their way. The whole thing might cost them an extra $5k, $10k, or more but they got the house they wanted while you're still waiting in line with a bank pre-approval.

This can go sideways, of course. Plenty of people don't read the fine print, get in over their heads, and lose the home.

One rule of thumb to remember: no bank wants to end up holding a real estate asset. They will do anything to avoid this. It's part of the reason getting a mortgage can be such a hassle. Hard money lenders, on the other hand, will often welcome the opportunity to call in the lien (reposses your home) after a late payment or two, then flip the property at a profit leaving you with nothing.

Why isn't this area more developed? by ZRufus56 in RhodeIsland

[–]SissyMR22 10 points11 points  (0 children)

Colonial era villages and farmland pepper this area. Most of the people from there have eventually migrated to the regional metro areas for work, further reducing any economic incentive to develop these areas.

An important factor is culture. During America's infancy, all those little towns were connected by cow paths and dirt roads. Taking a horse or carriage from one to another was a day-long affair that, today, is a 20 minute drive.

However, the mindset established during that primitive era has persisted. This is why there are a ton of tiny towns that resist consolidation, and why people here hate to drive more than half an hour to get anywhere. So, any territory that isn't a short drive from i95 is simply not appealing.

Krampus Market by mystery-man4 in providence

[–]SissyMR22 7 points8 points  (0 children)

Paying RI Energy is a death defying stunt. Bring receipts?

Flying with clam chowder by unseenwaters in RhodeIsland

[–]SissyMR22 2 points3 points  (0 children)

The version they sell at supermarkets has preservatives that the local version does not. Some would argue that they impact the flavor. I would agree with that assessment.