How to Convert a Multifamily (Condo Conversion) || Real Estate Explained #94

Thinking of converting that multifamily property into condos? J. Lucky Henry explains this process in today's Real Estate Explained video.

Converting multifamily properties into condos is a common real estate investment practice. Yet, when one is thinking of going this path, there are certain considerations to bear in mind.

J. Lucky Henry offers the following tips on condo conversions:

1. Ensure multifamily purchase price does not exceed what future condo sales could be. This also means considering what the conversion fees will be.

2. Check with your city/town about conversion requirements

3. Make sure there is a demand for the size of condo you would be creating. If you're in an area where the tastes are for 3 BR condos, but all you could offer is 2BR, you will want to factor in how this may affect rate of selling.

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Direct any and all questions via call or text to 978-712-0244 and for more questions, comments or concerns please visit our Real Estate website: www.JLHRealtyGroup.com.