Updated over 9 years ago on . Most recent reply
Converting a single family into a multifamily property
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
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.