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Updated almost 6 years ago on . Most recent reply

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Frank McAvinchey
  • Flipper/Rehabber
  • Cincinnati, OH
0
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Turning my house and garage into three rental units or not?

Frank McAvinchey
  • Flipper/Rehabber
  • Cincinnati, OH
Posted

My wife and I are nearly done paying off our house, after 29 years or so.  We just finished flipping another house, which was our first flip ever.  That deal just closed the other day, and we are looking to start another one on June 1, 2019, just a few more days from  now.  I've been interested in purchasing rental units for some time now, but only recently have we been in a financial state where  we are able to do anything besides just living.  So, I'm considering turning our long-time home into three rental units - one on the first and second floors, one in the basement, and removing the roof of our detached garage, and building a second-floor apartment in it's place, thus creating a third apartment to rent out.  

Any thoughts on such a maneuver?

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869
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George W.
  • Investor
  • New Jersey
920
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869
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George W.
  • Investor
  • New Jersey
Replied

Sounds like it may be worth looking into as long as your municipality zoning will allow you to do it. 

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