All Forum Posts by: Adam Allen

@Trey Farmer thanks, buddy

@Trey Farmer - These are super helpful details I've pieced together along the way. You're prob right about the ADU... I'm already leaning towards a stand alone ADU for simplicity of design and build (less expensive). We will need to get creative to not eat up all the backyard, but doable with a 2 story building. To get a more accurate quote for engineering costs the perimeter grade beam of foundation needs to be exposed (soil removed) to be evaluated... this is where I'm at right now. Could add additional $8-10K to the project if foundation needs to be addressed. 

@Aaron Gordy - You're the 2nd person to suggest an expediting co. (Any recos?) I've budgeted them in. Est. Total: $6100 w/ permits 

@Chris Schorre Thank you for the note. I'll take these into consideration as things move forward (sloooowly). 

There is no harm in pre-leasing. If it was me I would have a tenant lined up 1-2 months out if possible.  Aligning with Summer rental/buying months makes it much easier.

@Sarah Lorenz Love this bit: "I also wish I would have held a property that I was going to move back into as a retirement home at some point, so I don't have to pay the appreciated prices and taxes later on." Sound and noted. Thank you, Sarah!

@Jim Robertson 10-15 days a month seems about right. Our STR in East Austin averages around that. And I do see quality of guests decline when filling vacancy gaps with lower pricing. Anything under $65/n will do that. But if the space is small there's not much to damage and worth that extra couple of grand a year, in my opinion.

@Amit Saini solid advice. There are not duplexes on our street, but two streets over there is a mix.

Has anyone converted a single family to a duplex in Austin? 

Our current residents is 1600 sqft 4/2, zoned SF-3 with 1850sqft lot. Poking around online we should be able to build onto (second story) the property and “easily” permit as a duplex. 

The goal is to add a 800 sqft unit (bed, bath, kitchen, and laundry) atop the attached garage with a side entry for rental income. Project cost estimate about $85-100K with our resources and rent for $1500-1600.

I’ve seen many new builds going up as a duplex but don’t know of many conversions happening... anyone familiar with this strategy? Still working through actual costs for design, engineering, permitting, and build but rough numbers look pretty good... 

Has anyone done this before?