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Updated over 8 years ago, 05/01/2016
renovating sfr into multifamily
hi my name is Todd. I am new to the site. This is my first post. I have been listening to the podcasts and reading the books for 3 months or so and studying my local market. I am committed to buying a small multifamily family as a live in house hack.I have $45k to work with and good credit. I am a skilled carpenter.I'm looking for something that needs work but is in a good area. My problem is there doesn't seem to many avalible multifamily homes in my area (Rochester NY).there are actually several but they are in the worst parts of town, not where I choose to live or invest.The few that are in decent neighborhoods don't seem to have numbers that work by my analysis. There are although many sfr's that could work. I have thought that it might make sense to include in my search sfr's that show potential to be renovated into a small multifamily. I have not come across this idea much in my reading. I did hear one brief mention on a podcast. I'm sure there are people doing this. I wonder if there may be zoning laws or ordinances that prohibit this strategy in some towns. I guess I'll have to research that. Ok I know I'm being long winded so I'll wrap up by asking if any one has had any success or failure with this approach or would have any wisdom to pass on about this idea.Thank you so much for being here