Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 16 days ago, 11/14/2024

User Stats

19
Posts
14
Votes
Josiah Kellerman
  • Real Estate Broker
  • Eugene, OR
14
Votes |
19
Posts

How can I do a condo conversion after adding an ADU?

Josiah Kellerman
  • Real Estate Broker
  • Eugene, OR
Posted

Hello, I'm looking to build an ADU on a property and then convert the two homes into a Condo association. Has anyone in Oregon had any luck with this? The reason I want to do this is so that the ADU is worth more on an appraisal. I've built an ADU before and the appraiser came through and said it only added a value of about 50k. It will likely take about 75kish for me to build this next ADU. I want to make sure I can pull most if not all the money out on a refinance. I figure a Condo in my area is worth $160k-$225k. This would allow me to pull my money back out. Specifically, I need to know how I can figure out if a condo association is allowed where my property is(Springfield Oregon). And also any lawyer recommendations in Oregon that have written up the bylaws and set up the HOA for said Condo's. Thanks for any insight and advice you may have!

Loading replies...