All Forum Posts by: Atanas Gyulev
Atanas Gyulev has started 2 posts and replied 5 times.
Quote from @Dan H.:
Quote from @Nathan Gesner:
Quote from @Dan H.:
Oops. Do not know why but I thought it was Ca. Your response now makes more sense to me, but with my incorrect belief I did not initially understand it.
Thanks for clarifying.
In your opinion what will be the best way to survey the rental demand in the area . Couse in my mind renting a Single Family home vs renting a converted SFH with 2 additional units is very different
Quote from @Dan H.:
Quote from @Atanas Gyulev:
Quote from @Nicholas L.:
what makes you think you can convert it into 3 units?
This home has 2150 sq. ft. of finished space plus an unfinished basement of 1642 sq. ft. that is pre-wired. The unfinished workshop has 576 sq. ft. w/ loft of 26x36 that can be converted to an ADU according to the county. The garden shed is 8x8. A 30x30 concrete slab ready for a shop.
That's from the listing description. I contacted my realtor to verify if its possible. The way I see it working the basement has its own parking and entrance in the back of the house and the building/shop in the back of the property has to be the 3rd unit. Am I looking at this correctly or am I totally wrong. Still learning soo that would my first deal and I am trying to make sure I am not jumping wayyy over my head. I would appreciate your opinion. Thank you!
State ADU laws allow one ADU and one JADU. however a JADU requires owner occupancy and typically lowers the value of the property.
Note a jurisdiction can exceed the state ADU regulation, but in most areas you can only add one ADU.
The basement can be tough to make into ADU due to current regulations for sleep space (bedroom or studio). Especially ingress/egress regulations have been expanded over the years.
I recommend if you plan to convert the basement to an ADU you consult with an expert to determine the feasibility.
Good luck
Thank you I really appreciate your input. i will check on the local regulations before i decide on the deal
Quote from @Nicholas L.:
what makes you think you can convert it into 3 units?
This home has 2150 sq. ft. of finished space plus an unfinished basement of 1642 sq. ft. that is pre-wired. The unfinished workshop has 576 sq. ft. w/ loft of 26x36 that can be converted to an ADU according to the county. The garden shed is 8x8. A 30x30 concrete slab ready for a shop.
That's from the listing description. I contacted my realtor to verify if its possible. The way I see it working the basement has its own parking and entrance in the back of the house and the building/shop in the back of the property has to be the 3rd unit. Am I looking at this correctly or am I totally wrong. Still learning soo that would my first deal and I am trying to make sure I am not jumping wayyy over my head. I would appreciate your opinion. Thank you!
https://www.zillow.com/homedet...
Post: Newbie investor Looking for help to analyze a deal. Any comments are greatly appreci
- Posts 5
- Votes 0
Hello everyone,
I am looking to jump in my real-estate journey. I have zero investment properties yet and kind of been stuck in analysis stage for the past year . Recently I came across a property that makes sence to me ,but everyone in my surrounding says its not a good deal ( by the way non of them is professional real-estate investor). Some of their arguments are:
is too expensive (Midian rent in the area is $1600)
it's too old
it's ugly
it will require a lot of money to convert to 3 units
it's in a flud zone
it will be hard to rent the basement and the unit in the back yard
https://www.zillow.com/homedet...
This is the property in question. The way I see it. Can easily be converted to 2 -3 units.Those being the main house, another unit in the basement and another one on top of the garages in the back. Where I struggle is finding the real rental income in the demand.
Any advice or opinion will be greatly appreciated.
Thanks