Former Funeral Home as Apartments?

[Alecia Loveless]

As I’m sure are most investors, I’m always looking for the next great deal. My realtor has presented me with a retired funeral home as a possible conversion to a 3-4 unit multi family. It currently has a 2 bedroom 1 bathroom apartment upstairs and lots of open space on the first floor ready to be divided up and turned into other things such as housing units. I haven’t looked at it yet but I believe there’s about 2700 sq ft. Of space on the first floor, so maybe two large units and a studio or else just extra bedrooms.

There’s an incredible shortage of housing in my area so if the units were done correctly I don’t believe there should be too much trouble renting them. I’m sure there would be some people who wouldn’t rent in a former funeral parlor but plenty that would.

Fellow investors do you think there’s too much stigma and this is a bad idea? Or a possibility to get a steal because no one wants it?