Zoning Knowledge - Single Family to 3 units

[Ed Ibañez]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $459,000
Cash invested: $80,000
Sale price: $830,850

Purchased a Single Family Home and converted the property into three units.

What made you interested in investing in this type of deal?

Understanding Zoning and purchasing a property in a multifamily zone district to add the units.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

FHA 203k Loan

How did you add value to the deal?

Added two additional units

What was the outcome?

See photos for final product.

Lessons learned? Challenges?

203k agent was lazy and difficult to work with. Definitely research the 203 k agent before hand.