Duplex Depot - Duplex and MultiFamily Properties of Snohomish County » conversions http://www.duplexdepot.com Duplex and Multi-Family Real Estate in Snohomish County Thu, 01 Jul 2010 13:24:50 +0000 en hourly 1 http://wordpress.org/?v=3.0 Duplex conversions make deals possible! http://www.duplexdepot.com/40/converting-home-to-duplex/ http://www.duplexdepot.com/40/converting-home-to-duplex/#comments Wed, 24 Dec 2008 00:39:39 +0000 Jacquie Cliff - Real Estate Broker http://www.duplexdepot.com/40/converting-home-to-duplex/ Today while researching articles I came across an old blog post on how converting a single family residence into a duplex can be a great investment opportunity.  The reality is even with home prices down in many places, such as here in the Seattle metro area, the rents that can be generated from single-family home aren’t enough to justify purchasing them as a rental properties.  However if you can find a larger home with the right layout it can be possible to split it into two living units and rent it out as a duplex.  Generally speaking the rents for each half of the duplex is only slightly lower than what you can get for the property as a single-family home.  The result of this is that with a small investment to modify the property you can often times take a property with numbers that don’t work and turn it into one that has a positive cash flow.

Of course, there are always hurdles to overcome in converting a single-family home into a duplex.  Of primary concern is whether the property is suitable for dividing into duplex and what the local zoning and permit processes are.  I never said converting a single-family home into a duplex was easy!  When you start considering converting a single-family home into a duplex be sure that you have a competent real estate agent and remodeling contractor by your side.  This will help you make sure you get into the property for the correct price and have a solid estimate of what it will cost to convert the property.

If you are in the greater Seattle area and would like to sit down and talk with me about duplex properties and real estate investing, please send me an e-mail at Jacquie@JacquieCliff.com or give me a call at 425-773-3149.  If you’re outside the Seattle area and looking for a great real estate agent to help you with purchasing your duplex properties, I can  put you in touch with a hard-working and knowledgeable real estate agent in your area.

]]> http://www.duplexdepot.com/40/converting-home-to-duplex/feed/ 0