Flipping multi-units / condo converting

[Jauffrey Golinski]

I understand that most flippers are involved into flipping single family homes.
I was wondering if any of you BP members were involved into flipping multi-units (> 5 units) on a regular basis.

Here I would distinguish 2 processes:

- Flipping the multi-unit as a multi-unit
Meaning buying mismanaged properties and improving the NOI or vacant properties/rehab/rent
- Condo- converting the multi-unit and selling condos.
I guess the condo conversion process is definitely a barrier here especially from a legal point of view and because of the delays involved. I know that this process is very specific to one city from another and that in some cities, it is quite tricky (the lottery in San Fransisco and the average 7 years to obtain condo conversion makes it quite impossible there).

So anyone flipping multi-units or condo converting multi-units, please speak up and tell us about the most challenging issues you’re facing on this niche market.

Thanks for any replies. Jauffrey

PS. This is my first post on BP so my self-esteem and I hope we will get answers from you BP members, even if the subject is quite specific.