Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 17 years ago on . Most recent reply presented by

User Stats

2
Posts
0
Votes
Kira Botkin
  • Columbus, OH
0
Votes |
2
Posts

Condo conversion legal issues?

Kira Botkin
  • Columbus, OH
Posted

I am considering purchasing a duplex in my area (columbus, ohio) and eventually converting it into 2 condos (each side separate). This is pretty popular in my area and I think it makes financial sense.

(for reference, the house is about $160k and I could easily sell each side for $100-$110k, rents in the area are about $900.)

however, I am not sure how much of a pain in the keister this is going to be - for instance, whether one has to establish a homeowner's association when there are only 2 units, and how one goes about doing that, and how difficult it is to get the land and house legally split in two. I am planning on living in the duplex and renting out the other side, the condo conversion would just be icing on the cake once we are ready to move. I am worried that since there won't be a huge profit off the sale, that large legal and government costs would make it more trouble than it's worth. Any advice? Thanks!

Loading replies...