All Forum Posts by: Joe Bakleh

I own a property in Rhode Island that was at one point a two-family dwelling. It was converted to a single family years ago. It is in an area with lots of multi family properties.

I currently rent it by the bedroom and gross 1800/month. 4 bedrooms upstairs. 2 bedrooms downstairs.

Should I convert it back to a two unit? What are the implications of I decide to convert? I would probably gross approximately 2300 plus or minus.

Any input would help. I really appreciate it in advance!

Joe

@Gbatoh Browne I know a great guy for the job. He is a general contractor and has a lot of experience with balconies. Very reasonable. Let me know if you want me to put you in communication with him. Best of luck!

How do I negotiate this deal? It is for 4 condos and 1 townhome. Owner is willing to provide financing. How do I set up terms that are favorable for me? Any examples of what this would look like. My question is if there is a balloon payment due at the end of the term, will it be difficult to refi all properties at once? Will the refi’s have to staggered throughout the life of the terms we agreed upon? Appreciate any help. Thanks in advance!