All Forum Posts by: David Wierzba

Sweet.  Thanks @Peter Ulstad.  Very helpful to read.

Definitely glad we didn't end up going with the purchase.  That would have been an unpleasant experience a 6-months from now.

@Kevin Anderson, without divulging any secrets, how did you manage to find out about a deal that was unlisted?  Do you just call around, or was it just through networking?  I have been trying to buy a multi-family unit for the last year, and as we are only looking at what is listed, we keep losing out to investors with 100% cash.  Thanks.

Gentlemen, thank you for your insights.  This was exactly what I was looking for.

Bruce, thank you for sharing the details on the challenges with converting from duplex to triplex. I didn't know the complexities involved there. I plan would have been to owner occupy for a year or so, to take advantage of the FHA, but then we would move out and likely need to get the property rezoned. In the end, we thought it wasn't the best decision for our family. Thanks very much!

Looking to buy a duplex that is currently only cash flowing about $300/month.  The basement is very finishable, and I think we could get an additional $750-800 for the basement unit, increasing our cash flow significantly.  I've heard from friends that rezoning in Minneapolis can be a huge nightmare.  Does anyone have experience rezoning a single family home to a duplex or a duplex to a triplex?  What kind of costs should I expect?  What additional risks should I be aware of?  Thanks in advance for any advice offered.  I really appreciate it.