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Updated over 10 years ago on . Most recent reply

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21
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1
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Leonid Stakhov
  • Real Estate Investor
  • Auburn, WA
1
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21
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We were buying a single family but ended up with a duplex.

Leonid Stakhov
  • Real Estate Investor
  • Auburn, WA
Posted

Hello BP.

We were buying a single family house in Crown Hill, Seattle from an auction. However, after buying this property and checking it out, we discovered it's a duplex. How can this impact the selling price of a flip?

Most Popular Reply

Account Closed
  • Investor
  • Central Valley, CA
3,729
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6,037
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Account Closed
  • Investor
  • Central Valley, CA
Replied

Funny, my first thought wasn't how it affects the value of the flip, but how it affects costs on the rehab.  If the property isn't zoned 2-family and/or the conversion wasn't permitted, you're looking at costs to restore it to a one family or permit it after the fact.  I'd get clear on the zoning and permitting 1st.

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