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Updated over 8 years ago on . Most recent reply

Tereal Wilsonn's profile image
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Tereal Wilsonn
  • Rental Property Investor
  • from Oak Park, MI
  • Member since Jun 2, 2013
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Tereal Wilsonn's profile image
Tereal Wilsonn's profile image
Tereal Wilsonn
  • Rental Property Investor
  • from Oak Park, MI
  • Member since Jun 2, 2013
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Tereal Wilsonn
  • Rental Property Investor
  • Oak Park, MI
35
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Buying & Selling Real Estate

Can I buy the 2 duplexs then make them a quad?

Tereal Wilsonn
  • Rental Property Investor
  • Oak Park, MI
Posted
Greetings everyone I'm curious to know could I buy the duplex next to mine then refinance it as a 4plex? If so how could I make that happen ? Thank you
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James C.
  • from Rockledge, Florida
  • Member since Nov 27, 2016
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  • Rockledge, FL
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James C.
  • Rockledge, FL
Replied

Tereal,

It would probably require you to combine the lots, and that would be up to the city/town, and the zoning. I would look towards a blanket mortgage as opposed to combining up lots. Keep in mind your exit strategies if you go to do this (including unanticipated issues)... you have a bit more flexibility with separate 2-units than the 4plex.. i.e. you could sell two and pay off the other... 

Good Luck,

Jim

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