Thanks! I sure hope it's not too time consuming!
I have created high level project plan that from closing on the 2/3 Family, renovations and selling the condo's will take 6 months.
The time to renovate the units will be at most 60 days and I estimate 4 months to sell the units. I believe that I can do it quicker than that, if I time everything right.
These estimates come from styding a few condo conversion in my neighborhood, noting what worked and what did not work. I would be new to this and I do not expect it to be easy, but I have a few friends in the industry that might not be able to lend money, but could lend time and their expertise so as to mitigate my risks.
I even estimate that I would end up paying $20k-30k in interest over the 6 months and still make a pretty decent profit.
Has anyone converted property to condo's in the boston area?
Any help would be greatly appreciated!
