Posted by JD on April 16, 2000 at 22:07:12:
No, I am not suggesting that you turn the building into a parking garage (although if you took your driving test there…?). I am warning you that one of the biggest obstacles that you will face when remodeling these buildings is parking. It is possible that you will have to demonstrate that you have a certain amount of off street parking spots available before you will be issued a permit to remodel apartments or offices. It is also possible that you will have to bring the whole building up to code (rewiring, replumbing, egresses, smoke detectors, fire rated construction $$$). You have to get the building really cheap in order to make a profit, but it can be done. It helps a lot if you have a commercial contractors license. IMHO, always willing to hear of a different angle.