I will soon be closing on a fixer upper Duplex (Hard money). Planning on a refi in 6 months.
Would it be profitable to split the Duplex into 2 Single family homes and get it appraised before doing the Refi? What would the process include and how much would it cost?
@Pragya Singh Welcome to Bigger Pockets! Make sure you take the time to post a New Member introduction in the New Member intro forum. It will help you garner more interest in your postings, and it helps others understand what kind of investing you are in to.
It's really hard to give you a specific answer without any of the details of the purchase etc. I cannot think of any reason why you would want to split a duplex, just to refi it. Splitting them up in to two separate houses seems like a whole lot of work (and capital), and for what?
Why do you want to do it? Cash out for another REI venture? Considering the information you've provided....
My answer is definitely no, it would not be "profitable" to split them.
As to how much it will cost - It will likely cost you tens of thousands of dollars to "split" them up.
Please provide more detail so we can help you find a solution...
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing