Based on that you have two completely different approaches, if it is a former it really comes down simply to income you and your partners have and a 25% down payment (assuming you are not going to live there) for a conventional agency loan (FNMA/Freddie) and you will have to put it in your names as no mortgage banker will finance an LLC/LP (there are ways to get around it after you buy it in your name and transfer into an LLC without triggering a due on sale clause but that is a different conversation).If you are talking about a multifamily loan, you can get a down payment for as low as 15% for certain product types (like FHA multifamily) but you would need a loan amount of about $2 million for most lenders.

Please join this conversation .

It sounds like you figured it out but normally the path of least resistance is just to call the city’s building department and talk to them, then ask them transfer you to the zoning department and have a conversation with them.

An LLC definitely offers some protection, but as mentioned earlier in this conversation so does an appropriate umbrella policy.

In my state, it needs to be at least 70 sqft, no wall shorter than 7 feet, a window, closet, door, and 50% of the ceiling height needs to be over 7 feet (for all of those attic conversions we see).

Now I am actively searching for properties, getting the wholesale emails everyday and one caught my eye and I contacted the wholesaler and have started the conversation which come to find out I have spoken to him before with another investor and he remembers our conversation and "has heard good things about me".

If you’re interested in learning more about becoming a featured agent or know someone who’s interested, just send me a message and we can start a conversation to see if it would be a fit for you.

Hi Omari, we would be happy to have a conversation with you.

It makes the conversation so pleasant, informative and keeps your confidence high because you get away from traditional uncomfortable rejection and manipulation.So much of my success is based on changing the traditional conversation that my competitors use.

Project cost estimate about $85-100K with our resources and rent for $1500-1600.I’ve seen many new builds going up as a duplex but don’t know of many conversions happening... anyone familiar with this strategy?