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Updated about 8 years ago on . Most recent reply

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Abdessettar Ibourki
  • Real Estate Professional
  • Schererville, IN
4
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a 2.5 car garage in a duplex.

Abdessettar Ibourki
  • Real Estate Professional
  • Schererville, IN
Posted

I found a duplex and the cash flow looks promising. the concern that I have is that the duplex has a 2.5 detached car garage. 

Before moving forward in the offer process, I want to know if there is any cheap ideas to increase the value of the duplex by modifying the 2.5 car garage.

Any ideas?

Thanks in advance.

Most Popular Reply

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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
Replied

@Abdessettar Ibourki Concern?  Garages earn rent too. Your tenants would get first dibs, but if they don't have a vehicle or want the place for storage, parking agreements can be signed with outside folks. Please read the current leases in place to find out what is going on in your potential purchase. If there is no mention of the Lessor providing a garage space, write into your purchase agreement that the garage be vacant on the day of close. I acquired tenants in one purchase and they filled up the garage as the seller vacated.  I didn't get possession until spring, for various reasons! 

Garages can have their own rental agreements.

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