Buy a 4-plex and build more units ???
I'm a small investor who already has one commercial property that turned out to be very successful so far, but I need advice from the experts here!
I'm considering purchasing a 4-plex apartment. I've always resistant of anything under 4 doors because they are generally valued based on comps. This makes increasing valuation difficult because you are generally stuck to comp values. However, I have a very trusted and competent builder in the area who can add more doors to the units. This would allow me to turn it into a ROI based valuation and therefore increase value.
Does anyone have experience doing this or have any comments or suggestions, etc?
Thanks!!!