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Updated almost 4 years ago,

User Stats

120
Posts
18
Votes
Dave S.
  • Investor / Wholesaler
  • Erie, PA
18
Votes |
120
Posts

Multifamily into separate Single families for higher resale value

Dave S.
  • Investor / Wholesaler
  • Erie, PA
Posted

Looking for some advice and strategy for splitting a multifamily into 2 separate half double dingle families for higher resale value. Looking to do this to flip and sell right away (not to hang onto). The street is filled with separately deeded half doubles, so getting the approval from the township should be a slam dunk (knock on wood). However, the property is mortgaged (as one deed). So I'm looking for help to navigate this scenario with the least out of pocket funds as possible. The deed splitting costs about $4K but I really prefer to not re-fi and get two separate mortgages for a short term until we sell. Thoughts?