Updated 4 days ago on . Most recent reply
Best way to refi a 4+2bed
Hey guys, I should start out by saying that I'm in the Canada, Ontario market. So I'm looking to get my first student rental by converting a 2+1 single family home into a 2 self contained units (4 beds upper + 2 beds basement). What I'd like to know is after I find this property and improve its value by making 2 units do you guys typically make it a fully legal aru? Or do you just make it basically a non legal basement apartment? I'm sure the value would be higher if it was a legal aru but is it substantially more? Or do you guys typically get good returns on just having it as a non legal basement apartment? Almost all of the properties I have viewed which have already been converted are all non legal basements. Please let me know your thoughts/experiences. Thanks