Purchase price: $516,000 Cash invested: $600,000 Converted mixed-use 3 residential and large commercial space into 5 residential units and one mixed-use Building.

Converting an unfinished basement into a third unit can definitely add value, especially here in Chicago.

Also, converting the unfinished basement could add a lot of value over time.

Lastly, ADUs are allowed for NON owner occupied properties, opening this strategy up for investors who could convert a SF into two units. 

I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now,  should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1...

Quote from @Jaycee Greene: Financially, I'd only do it if you could convert to a 3x1 AND get at least 50% higher rent.I dont see getting 50% more.

 Hey GUYSOver the years, I’ve worked on creating high-converting funnels for marketing agencies, and one thing I’ve noticed is that the core principles of attracting, nurturing, and converting leads are just as relevant for real estate investors.I’ve been diving into strategies that could help investors streamline their deal flow, attract motivated sellers, and build better relationships with private lenders.

Quote from @Allison Littman: I am currently trying to close on a church in Nashville (residential R6-A zoning) and convert it into my primary residence.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

He may be actually speaking about a "Wrap".Find out if actual ownership converts to youMake sure you have a title reportYou may want to pay for an appraisal and an inspectionMake sure you use an escrow company or an attorney to do the transaction Hi Ken!