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Updated about 5 years ago on . Most recent reply

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6
Posts
1
Votes
John Einarsen
  • Chicago, IL
1
Votes |
6
Posts

Build second home on multi-family lot that already has one house?

John Einarsen
  • Chicago, IL
Posted

Hi All,

I am brand new to real estate and am looking to house hack instead of rent. I want to buy a single family on a lot zoned for multi-family (e.g. up to 2 units) and live in one portion while renting out the other. Is this a good idea? Here is an example of a property that might work:

https://www.redfin.com/CA/Los-Angeles/8342-Reading...

The city told me that the imaginary second unit can be 32'x27' and up to 33 feet in height. I'm thinking of doing a pre-fab home to minimize the cost to carry the property before it can be rented out. Can anyone help me analyze this scenario?

Thank you in advance!

Most Popular Reply

User Stats

29
Posts
4
Votes
Kevin Danikowski
  • Rental Property Investor
  • Chicago (suburbs), IL
4
Votes |
29
Posts
Kevin Danikowski
  • Rental Property Investor
  • Chicago (suburbs), IL
Replied

Hello All, I'd like to revitalize this forum. @Ethan Cooke , I was planning to do exactly what you stated at the end, one of my units are currently airBnB'd and I was thinking of adding a detached unit, considering them as "together" and AirBnBing the second one as its own unit even though the lease is technically for both units (lease to my own building by my own company that is). Any thoughts on Insurance or liability issues that may occur? 

Also, @John Einarsen , did you have any luck finding out more information about this?

Thanks in advance for any info.

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