How About Tiny House Condos?

[Terry Pratt]

II've long had this idea that there is probably a market for developing multiple small houses on land and selling (or perhaps renting) them as condos.

Someone actually did this in my neighborhood five years ago with a red-tagged meth house.

He bought the property cheap, tore down the house, and put up four houses on the lot, none of which were tiny. Because the property was close to transit, the parking requirements were substantially reduced.

He put up a banner offering his houses as condos and grossed about $750K. I didn't look up the price he paid but it was assessed at $130K and I'm guessing he paid considerably less than $100K for the property, and made a decent profit after development and constuction costs.

He sold all four units within two weeks, thereby reinforcing my belief that there is a market for units like these.