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October 24, 2007
Refinance/Conversion Question
I want to refinance my one-family, pull out cash to convert it into a three-family but I have no idea how much something like this would cost,
Let me first describe the house: it has three levels including the basement, the basement is finished with a full bath and kitchen, one bedroom, with a front and back exit, ceiling height is a little over 7 feet,
I would like to legalize this unit, 1st floor living/dining rooms, full kitchen, half bath with space to add a shower, would like to convert this floor into a one bedroom obviously removing the dining room,
and 2nd floor has 3 1/2 bedrooms with a full bath, one room I would like to add a kitchen and legalize this unit as well,
So far I know I will need a fire escape but I need to know so that I know approx. how much I will need in cash, has anyone ever done this before and can you offer some advice, thanks.

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