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Updated about 8 years ago on . Most recent reply
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Residential Property Zoned Commercial
Hello fellow RE investors.
So I'm looking at starting my next investment. I recently relocated to Marietta, GA after being in Tennessee for quiet a while and doing other investments in Myrtle Beach, I've noticed the market here is quiet different in terms of money. The property I'm looking into has one home just over 700sq.ft. (I know small) but the other is closer to 1000sq.ft.. the issue I'm having is the larger home has been zoned for commercial use(separate listings, same owner), and if I acquire the two properties (combined rental income of $1700) I have to apply for rezoning. I've never had to deal with this issue and I know bigger municipalities can be a nightmare to deal with. So, I guess I'm asking exactly how difficult is it to get the rezoning granted? The homes are both in decent shape with the only major necessity being both need new roofs.
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I rezoned my residential primary residence to commercial O-1 all by myself* in Charlotte NC back in 2013
(*with the patient assistance of the wonderful Charlotte-Mecklenburg Planning and Zoning Departments).
I called the experts for quotes -- it would have easily cost $30,000 which no way i had that just laying around. I did it myself *
and the total cost was ~~ $8000.
It took me a year working on it part-time start to finish--- but it's been my all time best investment. I'm donating the beautiful 3400 sqft house on it to charity
and selling the land to build a medical office bldg on it.
I learned so much in the process-- an extremely valuable lesson that i could never have gotten any other way !