4 unit conversion to 6 units in Buffalo NY

[Eric Winstanley]

Hello Bigger Pockets members.  This is my first post hoping to get feedback, opinions, options and networking opportunities with other members on a project that I am considering.  I would love to hear some stories about other members who have recently completed a similar task

I have been investing in 2-4 units for about 8 months now and I am looking to convert a 4 unit into 6 units by adding 2 additional units in the attic.  There is plenty of space to do so, and this will increase the buildings value.  The building is located in Buffalo, NY.  It is currently a 2 story building with 3rd floor attic access.  There are currently  2 entrances to the attic.

What I have done so far:

1.)  I have the property under contract and have completed the home inspection.

2)  I have had an architect walk through the unit and done a complete code review.

3.)  I have had estimates for the contracting work as well as adding a sprinkler system and a fire escape to the 3rd floor.

4.)  I know all of my costs for accessibility issues.

I am hoping there are members in the Buffalo NY area that have recently completed a conversion of 2-4 units into 5 or more units.  My concern is working with the city inspectors to get this project complete.  Will the inspectors slow the project down?  Are there any unforeseen costs when working with the city? 

Any feedback would be much appreciated and if I can help answer any of your questions, please let me know.

Thank you,

[Chris D.]

About 10 years ago i did a conversion in the city of buffalo, it was hell.  They wanted sprinkler system installed, i had to remove windows and make them bigger and lower for egress, inspectors were a pain in the a$$, etc etc.  I convinced them to forgo the sprinklers as i put in hard wired smokes.  It cost a lot of money, but was worth it.  Also, dont listen to Chris above.  Its easier to get a commercial mortgage than a normal mortgage.  I suggest you get a commercial mortgage on a 4 unit.  Then convert after.  Also, pay for it as a 4 unit, not as a 6.  I was always tought to pay for current numbers and never pay for future numbers.