Boston Condo Conversion

[Alejandro B.]

I have a 3 family in boston and looking into possibilities beyond holding long term and collecting rent. Any tips or experiences as far as the actual process, cost, dealing with lawyers or anything else would be appreciated. Is it something you recommend if youve gone through the process

[Lien Vuong]

If you're looking for that project it would be good to start looking at the market analysis of the project and what you can sell for. That's your goal # - after that you can work backwards and figure out the costs associated (zoning, building permits, GC, emptying the property, holding costs) just to name a few. Since you own the property already it might not be a bad thing to partner with a local developer who has experience in that realm to figure out the process and with together to get everything done. 

I have worked with clients in the Boston area with these type of projects and that's the gist of how we analyze these days. A lot more Exceling will come with this but you get the general idea.