Creative multifamily deal

[Harry Maxtens]

Question: I came across a deal in the hottest part of town for a deeply discounted price. The caveat is that the property is zoned for Hotel use. The trick is to charge monthly rents without a lease.

What can I do with the deal and who would be a candidate to invest in such

[Don Konipol]

@Harry Maxtens

Any answer to your question would require far more information than you provide. Each municipality differs by zoning codes and how they’re enforced, as well as definitions and interpretations. One would have to be familiar with the particular municipality and applicable city, county, and state laws.

As for who would be interested, first one would have to determine size of investment, expected return parameters, and risk. Then narrowed by those interested in investing in that asset class. Also, further narrowed by stage of the investment, development, reposition, added value, or stabilized.

Bottom line is that any answer given without information received would be an outright guess.