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Updated almost 8 years ago,
Opportunity for creative land use in San Diego. Any ideas?
I recently learned my dad owns a lot in La Mesa, CA, a neighborhood about 15-20 minutes outside of downtown San Diego. He mentioned he wants to do something with it but doesn't know what.
I'm sure if I put together a plan and pay for development, he would be willing to partner on something, but I need to figure out what the best option would be. Here are 2 ideas:
- build affordable modular home on the lot for long term rental. This would require substantial costs other than the home as the property would need to be connected to utilities, and apparently La Mesa charges something like 30K to connect to water.
- buy a vintage Airstream, fix it up and decorate it super hip, and operate as a vacation rental. I am a bit more comfortable with this as I have experience with STR, but in a different neighborhood. This of course would also need utilities, but we may be able to somehow tie into his house next door to the lot. The downside is that La Mesa isn't super central so not necessarily the best neighborhood for Airbnb.
I need to do more research and run the numbers on both scenarios but I wanted to see if anyone had any other ideas or input. How can I creatively use/develop this lot to benefit myself and my dad?