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Updated over 9 years ago on . Most recent reply

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Max T.
  • Investor
  • Philadelphia, PA
3,342
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3,930
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Thoughts on converting a duplex units into condominium

Max T.
  • Investor
  • Philadelphia, PA
Posted

Just and idea and not sure if this is possible or worth the effort:

Let's say I own a duplex, two one bedroom units. Let's also say that in my market, if one of my units was a condo, it would sell for roughly the balance left on my mortgage. If I were to sell it I would pay off my mortgage and own the remaining unit free and clear.

What are the communities thoughts on something like this? My cashflow would increase, but then again I would have to pay into an HOA to maintain the roof and exterior. Worth it? Even if my after everything profit stays about the same, I would have one unit to manage instead of two (and probably less CapEx to pay for out of pocket).

Do RE Entrepreneurs do this sort of thing?

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