Updated over 10 years ago on . Most recent reply
single-family into multi family
OK I would like to get some advice I have a completely paid off house Proxima appraisal is about $134,000 I bought it as a fix and flip I was going to use the profits and go buy a more fixing flips-but I found a multi family that is A 15 unit five vacancies 10 full rent for 675 a month this property owner lives out of the country. And there is massive potential to get the other five occupied quickly . And to conservatively get an extra $50 /100 a month Per unit by doing minimum repairs and maybe just some basic advertising . I don't exactly understand the 50% rule on cost? And with that go into play as me being a general contractor ? Would that apply? So basically to be debt-free single-family fix and flip or going all into the multi family game and basically be 750,000 in debt?
Sincerely Beau.