I've completed several condo conversions here in Columbus and the attorney fees were around $5k, plus you need to hire a survey company to provide you with a condo survey, and you will also need to hire an architect to draw up the final layout and measurements of the interior....both of these documents from the surveyor and architect will then become part of your HOA condo docs.

The main fear is having a Canada revenue agency loss, this can trigger a "Why is your property losing money" survey.

Below are the rental trends by unit type (*DATA PROVIDED BY JOHNSON PERKINS GRIFFIN APARTMENT SURVEY):Below are the multifamily $/unit sales trends (*DATA PROVIDED BY WASHOE COUNTY ASSESSOR):Small multifamily (3-10 units) had a simple average of $181k per unit.

Factor in about 10% of the sale price to go towards closing costs (transfer taxes, commissions, attorney fee, etc) and miscellaneous expenses and you're at $625K so far - this is NOT including demolition costs, holding costs (taxes, utilities, insurance, management, etc), architectural drawings, surveys, building department filing fees, etc.That said, you may also want to consider the costs and potential benefits of adding sq ft. to the existing home and/or updating the home to potentially boost your sale price.All the best!

With us, the project cost includes in-house design fees, permit expediting, construction costs w/ a licensed GC, and structural/T24 survey consultants.

From surveying and planning to obtaining permits and architectural design, the journey to make the land shovel-ready demands time and energy. 

From surveying and planning to obtaining permits and architectural design, the journey to make the land shovel-ready demands time and energy. 

According to John Burns research, interest rates have made it just too “expensive,” in general, to own vs rent.According to Redfin, demand for large rental apartments and houses is climbing, one in five millennials who responded to a 2023 housing survey believe they’ll never own a home.

I would say the first step is a survey, maybe geotech depending on the lot and your area's requirements, and then contact a local architect that you like the work of and feel you would enjoy working with!

I closed for both sides and had a chase them round for final signatures.Also might I add the property could be falling down, you basically have to send your staff out to take pictures and videos to send to them to get them to even budge on any price.These homes they have have been sitting a long long time and most cases they are on the city’s list of zombie homes and ready to be demolished, you won’t find that out with no title search and survey, you find that out the day your workers show up to work ready to get this thing back to livable to be met with more money spending ventures.Bottom line.