Zachary Freeman
Purchasing Quadplex in LA; possibly will convert to 6 units
In Los AngelesListing price $690k. I have offered $645k. It currently has 2 2bed/1ba and 2 5bed/2ba. The property was non comforming 6 units and the seller just converted and remodelled it to 4 units. I may convert i...
Roman Puzey
Egress window seller concession vs asking seller
HelloWe are under contract for a single family home that we bought that has a full kitchen downstairs with 2 non-conforming bedrooms, full bathroom, washer & dryer and living room area with a separate entrance (st...
Ryan Monty
What rehab elements tend to increase appraisal value the most?
Specifically in Chicago, any advice on which types of rehab elements an investor in multi-family properties should focus on or give more weight to when deciding how to rehab a multi-family property? For example, in s...
Moises Correa
Renting out "In-law" Units - Pros & Cons
I am looking to invest in the Chicago market, and was initially considering only 3-flats for my first house-hack (I will live in one unit of the building). Many buildings in the city are set up as legal 2-flats with a...
Catherine Parenteau
Renting Non-Conforming apt through Section 8 - good idea?
Anyone have experience renting a Non-Conforming triplex unit that meets Code through Section 8? I don't have much experience dealing with Section 8 and I wonder whether there's a risk of bringing attention to a non-c...
Paul Bommarito
Legal 4 unit with 2 additional non/comforting units
Hi BP,
I have a question about buying a multifamily property with non-conforming units.
We are under contract for a very nice legal brick 4 flat in Chicago that we plan to house hack. However, the building also has ...
David Ko
Owner occupied multifamily above conforming limit -- options?
My wife and I are considering moving into a 2-4 family property in an expensive market. We are looking at properties between $1 - $1.5M, but we are likely going to fall just short of 20% down. Are there any financin...
Chris Parker
Change to super-conforming Home Possible mortgages
Just drawing attention to something I got bit by recently:Home Possible mortgages used to permit 95% LTV on a super conforming mortgage for a personal residence, up to 4 units. Rules recently-ish changed such that the...
Shaun Sperry
BRRRR: HELOC and conforming loan - first post
I am looking to the BP community for some advice on my first post, popping my cherry finally. I am looking to take out a HELOC on my primary residence for my first BRRRR. I do have reserves, but it is mostly for emerg...
Anna W.
Honolulu County Non-Conforming Single Family Purchase
The market here on Oahu has so many non-conforming properties that have say an extra wet bar or extra non-permitted bedrooms. We want to but a primary home property with either VA, traditional or FHA depending on the ...