All Forum Posts by: Spencer Perron

Hi all - I have a 4 unit building in St. Paul, Minnesota. I'm considering renovating part of the basement to add another unit, effectively converting it to a 5 unit building. Wondering if anyone has ever weighed the pros & cons of adding an additional unit to a 4-plex?

While this would improve the cashflow and cap rate for resale, I'm wondering if it would shrink my market of buyers, since they could no longer use conventional financing as it would no longer conform to a 2-4 unit building. On that note, I'm also wondering if I'd be violating anything in my current loan (30 yr, fixed rate conventional financing on 2-4 unit investment property). Appreciate any thoughts folks have on this. Thanks!   

Thank you all! This is great info

Hi all  -  I'm looking to do a cost segregation study on a 4-plex and maybe duplex that I own in St. Paul, MN in the next month or two. Does anyone have any leads on professionals or services in the St. Paul area to help complete the analysis?

Thanks in advance!

Hi all - wondering if anyone can recommend any banks that will extend HELOCs on investment properties in the Twin Cities area of MN. I'm looking for a portfolio loan across three properties. Thanks in advance