I have heard and seen a lot of Dallas rehab companies taking duplexes and converting them to single family properties. I have a property under contract in Dallas that is formally a duplex, but has been partially converted to singlefamily. I would like to hear about some success stories for motivation and possibly see some before and after pictures!
@Jeffrey McKee If you're looking at this property as a buy & hold, I would seriously consider restoring it to a duplex. You're cash flow will likely be much better. My overall determination would be based on the location of the property, the potential cash flow as a SFR vs. Duplex, and my long-term strategy (meaning am I planning to flip it, long-term buy & hold, or hybrid?). Just my 2 cents
@Hattie Dizmond undefined
I agree with all of those suggestions. With this property I was thinking of converting to single family then flipping. The reason being is that it is partially converted as is and there are stairs to the attic with usable square footage that could be converted to another bedroom or playroom. Unfortunately, the seller declined the amendment to the contract so this deal may have slipped away. Good deals are like a train, if i miss it another one will be along shortly. On the next one I will be sure to get my initial contract written correctly. The seller verbally agreed to have tenants out by closing date and I wanted to add an amendment that states that the contract can be assigned and that the property is subject to vacancy upon closing date. Balls is in his court to decide if he wants to change his mind because I still have until dec 18 until my option period runs out and i forgo my earnest money. I was thinking of letting the waters cool and then contacting him again to see if he changed his mind. What do you suggest?
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