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Updated over 4 years ago on . Most recent reply

User Stats

88
Posts
22
Votes
Ben Staples
  • Investor
  • Chicago IL
22
Votes |
88
Posts

What issues can be caused by a bonus unit?

Ben Staples
  • Investor
  • Chicago IL
Posted

I'm looking at a multifamily 4 unit with a "bonus" basement unit in Illinois.  Cash flow wise, it only really makes sense to do the deal with that bonus units cashflow contribution.  

  • Are there issues that could come up with the closing?
  • Are there issues that could come up down the road?  I.E. if I needed to renovate?
  • Should I underwrite this as a strict 4 unit, and call the 5th the icing on the cake?

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