Updated almost 12 years ago on . Most recent reply

8 Houses on 1 Parcel...What are my options?
I got a phone call today from a lady in Hayward, CA that has 8 houses on a single parcel. She wants to sell but is in over her head and does not know what to do. She has gone to the city and to lawyers to try and subdivide the houses into 8 different parcels but hasn't had much luck (not entirely sure the reasons). As someone who doesn't have the funds to purchase 8 houses with 17 total beds and 9 baths, I would be looking to get a wholesale fee from this. A few questions come up:
- Do you package this for an investor and basically think of it as a large, multi-dwelling apartment building?
- Is there money to be made by subdividing the land and making 8 separate parcels?
- As a long-term investor, would this be attractive to you (assuming the numbers made sense)?
- Would any discount be given due to the fact you would have to manage eight separate dwellings?
Sorry for the question dump, but this is the first time I've encountered a scenario like. Appreciate the BP help!