| Buying a duplex, selling as two half plexes |
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ushomeloans
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Location: Sacramento
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| Buying a duplex, selling as two half plexes |
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Not sure if this where to post it.
I found a duplex that is for sale for 500K in Sacramento. It is 2 bed/1.5 bath with extra room and one 2/1 with extra "room". Comparables have sold from 320,000 to 410,000 and at worst 300K a piece is what is would sell for. I called the Sac county planner and can sell it off as two halfplexes. I wanted to know if anyone has any personal experience, and tips or suggestions. I would like to flip it in 2 months, and finding buyers in two months in this market at the price is very practicle. Any tips welcomed
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Thu Sep 22, 2005 11:34 pm |
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Andrew
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Hi, all I can say is that we used to own a Duplex, but there is no way that we could have sold it as anything other than a single unit.
You might want to double and triple check your planning with respect to that.
There will are many entanglements with a duplex that would make dual-ownership a bit strange: like who owns what part of the land, who is responsible for roof repairs, etc.
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Fri Sep 23, 2005 12:05 am |
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ushomeloans
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Location: Sacramento
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do you know what it was zoned?
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Fri Sep 23, 2005 12:50 am |
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Andrew
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All I know about zoning, was that the area it was in allowed the property to be used for both residental and business purposes.
Some properties with common walls/roofs/etc, like condos and patio homes, are designed to be sold independently, so who knows, maybe you can do this this in your area.
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Fri Sep 23, 2005 1:59 am |
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Rolo
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You can't rent it out?
I don't see how a duplex wouldn't be any different than townhouses.
"Expect me when you see me."
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Fri Sep 23, 2005 7:02 pm |
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