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Updated 2 months ago on . Most recent reply

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Ryan Ash
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Multiple homes on one parcel

Ryan Ash
Posted

Been exploring some multi-family deals in the "suburbs of Pittsburgh" area for my next investment property, the goal is to find one that needs some cosmetic/light rehab work.  I have one question and a statement: 

1) Statement: Would love to connect w/ any and all folks in the area... Newer investor, one SFH under the belt and looking to focus on multi's for the next few years. Goal is to get a better understanding on the rehab process of the BRRRR, everything else makes plenty of sense, but wouldn't mind chatting about success stories w/ hard money lenders.

2) What's the deal w/ multiple homes on one parcel?  Outside of having 2 of everything (higher cap-ex & maitenance)  Any other draw backs to them? 


Thanks in advance ya'll, cheers! 

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Richard F.#1 Tenant Screening Contributor
  • Honolulu, HI
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Richard F.#1 Tenant Screening Contributor
  • Honolulu, HI
Replied

Drawbacks? Typically you either have a piece of land zoned for multi-family properties, or a piece zoned only for single family with a, presumably permitted, ADU (Accessory Dwelling Unit) specifically for additional income. Depending on local RE statutes, you might be able to split the ownership either by survey, and recording, if there is enough land for each structure; or by establishing a Condominium Regime and selling individually.

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