Garage Conversion ot

[Catherine Javier]

Hello BP family! Newbie here and looking for some insights..

we are actively looking for the properties to househack then BRRR, we plan to rent as midterm. I have this 2 properties in Orlando we looking at. Both would generate the same income. First will be a turn key with a garage already converted ADU with separate entrance, ~1700 sqft. All we need to add is a kitchenette and this is about 4-5 miles away from 2 major hospitals.

The second one is a 2000 sqft with 2 garage. The main house itself can be converted into 2 living space, and the garage can be converted too. Needs rehab It is about ~8-12 miles away from 2 major hospital, but is about 5 min away near to a 300+ bed hospital.. 

What would be a better deal?

And if i choose the latter, any idea how much do i need to prepare to covert 20x21 garage into an ADU in Orlando?

Thanks everyone!

[Shawn McCormick]

@Catherine Javier Would need more information on which would be a better deal, lots of variables not to mention how long you plan to hold this. Why is being near hospitals advantageous to you?

Was the ADU on the first one permitted? Does it have its own laundry, parking etc? If they both generate the same income and the second one will take months of planning, permitting, and constructing (both sides) with no income being generated, it comes down to purchase price.

What are comps in both areas for rents and ARV once you are done?

Keep us informed, love to know how it works out.

Best of luck!