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Updated over 8 years ago on . Most recent reply

User Stats

52
Posts
9
Votes
Stephen Wiater
  • Highlands, NJ
9
Votes |
52
Posts

Converting a single family into a multifamily property

Stephen Wiater
  • Highlands, NJ
Posted

I am currently acquiring about buying a cheap single family property with a FHA loan or 203k loan then converting it into a duplex or triplex.. I would live in one unit and rent other units out.

My family has a owned and operated general contracting LLC and I could get very good prices on renovations for the property, what are things that I should be careful about when pursuing this situation, this will be my first purchase in the real estate world, I am a little nervous but and definitely appreciate any advice or tips to look for when purchasing, thanks!

Most Popular Reply

User Stats

87
Posts
62
Votes
Sean Pincus
  • Developer
  • Philadelphia, PA
62
Votes |
87
Posts
Sean Pincus
  • Developer
  • Philadelphia, PA
Replied

You need to check with local zoning ordinances. If the zoning for multi-family does not comply with what the property is currently zoned you will need to obtain a variance to have it rezoned.

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