Winnipesaukee Forum - View Single Post - Converting a Single Family house to a 2 Family...any thoughts?

kjbathe · 11-13-2008, 02:51 PM

Where's the money come from to pay the contractor? And what kind of "margin" is there on the rental, assuming a tenant can be found and is also able to pay their rent? I would personally be looking at ways to preserve capital rather than assume additional debt in hopes that the plan comes together to allow you to pay it off.

And rather than your buyer deferring payments, how about getting them to continue payments, but in a smaller amount. Keeps their skin in the game, reduces your exposure, and has the potential to bridge at least some of the gap, if not all.

11-13-2008, 02:51 PM	#4
kjbathe Senior Member Join Date: Jul 2006 Posts: 283 Thanks: 3 Thanked 21 Times in 11 Posts	Stop spending... Where's the money come from to pay the contractor? And what kind of "margin" is there on the rental, assuming a tenant can be found and is also able to pay their rent? I would personally be looking at ways to preserve capital rather than assume additional debt in hopes that the plan comes together to allow you to pay it off. And rather than your buyer deferring payments, how about getting them to continue payments, but in a smaller amount. Keeps their skin in the game, reduces your exposure, and has the potential to bridge at least some of the gap, if not all. Last edited by kjbathe; 11-14-2008 at 11:01 AM.