 selling 4 & 5 unit togeth (by Laker Lori [CA]) Apr 8, 2021 7:15 PM
 selling 4 & 5 unit togeth (by Laker Lori [CA]) Apr 8, 2021 7:35 PM
selling 4 & 5 unit togeth (by JB [OR]) Apr 8, 2021 7:45 PM
selling 4 & 5 unit togeth (by razorback_tim [AR]) Apr 8, 2021 8:05 PM
selling 4 & 5 unit togeth (by Robert J [CA]) Apr 8, 2021 8:08 PM
selling 4 & 5 unit togeth (by Laker Lori [CA]) Apr 9, 2021 12:26 PM
selling 4 & 5 unit togeth (by Landlord ofthe Flies [TX]) Apr 9, 2021 2:34 PM
selling 4 & 5 unit togeth (by plenty [MO]) Apr 10, 2021 9:00 PM
selling 4 & 5 unit togeth (by Laker Lori [CA]) Posted on: Apr 8, 2021 7:15 PM
Message:
I bought 2 buildings together because they share a driveway. One is 4-unit but the other has a 5th unit (#D) as an illegal bootleg (I bought it this way). This is the bldg that had that fire (in a LEGAL unit) in "House." The House is being rewired up to code now, but shares a meter w/ # D. Ideally # D would move out & I could combine them again, but I can't get rid of her! I know how 5 units or more gets commercial mortgage. I'm wondering if I got it to be a LEGAL 5 then had to sell w/ my other 4-unit, would that be harder to sell? Than if i had 2 4-units to sell? Know what i mean? Debating whether to make it a legal 5 or wait her out to combine those two back into a 4-unit.
--68.5.xx.xxx |
selling 4 & 5 unit togeth (by Laker Lori [CA]) Posted on: Apr 8, 2021 7:35 PM
Message:
Is it easier to sell 2 4-unit bldgs together vs. selling 1- 4 unit & 1 - 5 unit bldg? would that 2nd combo be harder to sell? --68.5.xx.xxx |
selling 4 & 5 unit togeth (by JB [OR]) Posted on: Apr 8, 2021 7:45 PM
Message:
It is much more likely you'll be selling to an experienced investor anyway so I doubt it will make much difference.
And if you were able to purchase it via financing that way, it can probably be sold by you that way again with the non-legal unit.
But it may be worthwhile to see what you have to do to get it made "legal." --73.25.xx.xxx |
selling 4 & 5 unit togeth (by razorback_tim [AR]) Posted on: Apr 8, 2021 8:05 PM
Message:
As an investor I would rather own both buildings. One of the things I don't like about owning plexes in plex neighborhoods is the way some of the other LL's in the neighborhood practice tenant selection and property maintenance. --70.178.x.xx |
selling 4 & 5 unit togeth (by Robert J [CA]) Posted on: Apr 8, 2021 8:08 PM
Message:
4 units were selling for More Per Unit due to the mortgage ease. A 5 unit was the curse of death, trying to get a loan. So while looking for a up-tick property in a 1031 exchange I found a 4 unit that was converted into a 5 unit with issues. I was able to buy this on the cheep, a $100,000 discount because a unit wasn't legal. I then spent around $12,000 to get it up to code and obtain a certificate of occupancy. --47.155.xx.xxx |
selling 4 & 5 unit togeth (by Laker Lori [CA]) Posted on: Apr 9, 2021 12:26 PM
Message:
This is so frustrating because I just can't make up my mind whether it's better to get it LEGAL at 5 or keep it un-permitted at 5.... If I ever get the chance, I could combine the # D & House. --68.5.xx.xxx |
selling 4 & 5 unit togeth (by Landlord ofthe Flies [TX]) Posted on: Apr 9, 2021 2:34 PM
Message:
Why not make the fifth unit storage, coin-op laundry, beverage, etc. or just add it to another unit to make a larger unit with an office, or maybe you can add an additional room to two rentals depending on the layout.
Permits, if caught by buyer will be used to rake you over the coals when renegotiating a price. --108.69.xxx.xxx |
selling 4 & 5 unit togeth (by plenty [MO]) Posted on: Apr 10, 2021 9:00 PM
Message:
Not sure how one could ever go wrong making it officially legal. No debate for my checkbook. --208.54.xx.xxx |
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