Updated almost 8 years ago on . Most recent reply
if i package a 4plex and a 2plex in one purchase.......
have i now ventured into a commercial note/property vs multi family? if i am evaluating these how best to run the numbers?
the units are right next door sharing a parking lot. right now there is not enough spots to turn the duplex to a quad but we are researching that.
if i can find a way to get two more spots we can turn the duplex to a quad. it is 3800 sq ft so easily room for a quad or tri at min..
but the bigger question is if i purchase from a wholesaler as one note buying both properties do i run the numbers as a commercial property and evaluate using cap rate or can i run them separate using the normal property calculators?
just curious how others would approach this purchase.
right now numbers looking as follows:
150K purchase for both
250K rehab needed
rents around 750 conservatively now and 850-950 if we upgrade appropriately
running a few scenarios now but curious how others would approach :)
need to act fast on this one so may be making a move in next 24 hours :)