All Forum Posts by: Bruce Runn

You can get out by paying back the discount, just reach out to the 4D team and talk it through

 I live in Minneapolis, it has to meet building and zoning code to be compliant as a separate residence.  I'm guessing we are talking about two pretty different things

 I'm guessing it doesn't meet building/zoning code.  These do.  I know there are some quirky rules surrounding mobile home regulations.  It has something to do with the wheels not being allowed to be taken off something similar.  I know, crazy.

I did a tour of Yardhome's ADUs that they are putting up in MInnesota. There are 30 cities in Minnesota that ADU's are allowed. Their full package ADU's are reasonable ($160-$230K). The $160K option is a 500 sq ft 1 bedroom and the $230K is a 2 story ADU with parking underneath with a 2 bed apartment above. Highly recommend visiting their website/contacting them if you have thought about putting an ADU on one of your properties. www.yardhomesmn.com

To clarify, if this a basement conversion to add another unit, we have done that and the costs to add about 1,000 sq ft new apartment is above $100K.  If you want to discuss offline, we can do that.

Hi Zahnia

If you are making a duplex to triplex conversion, you need an architect to put the plan together.  Any qualified General Contractor with experience with larger scale experience should be able to handle this.  It's not that difficult.

To run a SRO, you have to be a no profit organizationn

If you have a RE license/real estate is your full time profession, you pay reg taxes on profits from selling real estate- I buy and hold for at least a year and sell some flips periodically so that is not my main business and I pay a much lower tax rate as mine are capital gains

I’ve found working within a current structure that has opportunity for expansion, especially a basement allows for a very good value add-  when you go from a duplex to a triplex, you move from IRC (residential code) to IBC (commercial code) and things get more expensive

Side entry need 15', there are other requirements as well but it looks like you are finding them as well.