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Updated about 9 years ago, 10/06/2015

User Stats

45
Posts
4
Votes
Beau Romstedt
  • Lawrence, KS
4
Votes |
45
Posts

single-family into multi family

Beau Romstedt
  • Lawrence, KS
Posted

      OK I would like to get some advice I have a completely paid off house Proxima appraisal is about $134,000 I bought it as a fix and flip I was going to use the profits and go buy a  more fixing flips-but I found a multi family that is A 15 unit five vacancies 10 full rent for 675 a month this property owner lives out of the country. And there is massive potential to get the other five occupied quickly . And to conservatively get an extra $50 /100 a month Per unit  by doing minimum repairs and maybe just some basic advertising  . I don't exactly understand the 50% rule on cost? And with that go into play as me being a general contractor ? Would that apply?  So basically to  be debt-free single-family fix and flip  or going all into the multi family game and basically be 750,000 in debt?

Sincerely Beau.

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