All Forum Posts by: Alan Baumann

Hi Barry.  Sure, let’s give it a try.

I'm just evaluating the deal at a high level. Most of the commercial/multifamily deals I look at are not in my area.  I know what costs might be for a house rehab.  There is certainly a range. I don't know if it scales the same 1:1 for a 20 unit building.  I know it could be $20k to $60k per unit.  That's too broad for me to estimate. I just want to see if it might pencil out as a deal before I spend more time on it.  Getting a contractor involved is premature, but would be very helpful indeed.

Hello Team,  I'm analyzing some potential Multifamily Residential deals and I want to do some calculations.  However, I'm don't know how much I should estimate per unit.  For a gutted to studs 20 unit building, how much should I calculate per unit to finish to standard and/or premium grade units.   Most units are 1 bed/1 bath, some are 2/1.

Thanks for your help!  

I understand there are often errors.  The photo was an example from a neighborhood map.  I'm convinced this is an issue because I find some cheap listings that seem to be unsold for this issue.  And many more I'm sure, can't list for this reason.  I have my eye on some properties that fit this situation, but, I don't know how to approach the issue. Researching it further, it looks like the property lines may not be the issue.  The ownership is not very clear.  I might have to get 20 heirs to agree to a sale though. :-)  Open image in new tab to view.

Hi Team,

Occasionally, I find older homes that were built on property lines.  This probably happened generations ago when numerous lots were owned by a family, but eventually, smaller plots were passed to heirs.  Now, perhaps children, siblings, cousins can't sell their land because a structure was built on lot lines.  

I think there may be opportunity in my area to re-draw/re-plat lot lines to fix these issues and liberate the owners.  And, perhaps, negotiate a sale in the process.

Have you come across an issue like this and were able to structure a creative deal from it?  How long did it take to fix?  What obstacles did you encounter, e.g. variances, heirship disputes?

 

I spent a couple of hours today brainstorming on how to convert a cluster of classroom trailers into residential units.  These are large enough to make decent apartments.  They have bathrooms and, since they are modular, I figure they can easily be wired and plumbed to separate meters.  I imagine it can be done if an engineer stamps the conversion plans and building inspectors sign off.  Hopefully it will be a cost-effective solution for an instant 8-plex.