Property conversions for multifamily usage have become increasingly popular in the dynamic world of real estate development. Reusing existing buildings presents an alluring possibility as urbanization continues to fuel demand for homes. Ken Bekendam is here to share the key factors to consider when converting properties for multifamily use.
In this episode, you will be able to:
- Explore creative ways to revamp existing homes and enhance housing availability.
- Delve into the intricacies of zoning and building code rules for multigenerational living spaces.
- Recognize the advantages of embracing lot severances as a foundation for land development projects.
- Understand the impact of compliance with building codes and zoning regulations on a flourishing real estate business.
- Ignite your innate curiosity and problem-solving prowess to excel in real estate ventures.
Ken Bekendam is a real estate investor and contractor who has honed his skills in transforming existing properties into multi-unit dwellings. He possesses extensive knowledge and experience in construction, zoning bylaws, and building codes, making him a valuable asset for investors who want to maximize the potential of their properties.
One of Ken’s key areas of focus is converting houses into multi-unit rentals. By utilizing his expertise, he helps investors identify opportunities to add additional housing units to existing properties, thereby increasing rental income potential. This approach is not only financially beneficial for investors but also addresses the growing demand for affordable housing and promotes densification in urban areas.
He also mentioned that when converting houses and adding housing units, it’s crucial to understand and comply with zoning regulations and become familiar with the relevant bylaws. Compliance with zoning rules mitigates renovation issues while adhering to building codes ensures safety and cost-effectiveness. Ken advises looking for sizable buildings with deep lots for zoning compliance and properties with generous side yards for parking. Understanding these considerations is vital for successful multifamily conversions.
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BM Select/Butler Mortgage – https://bmselect.ca/