All Forum Posts by: Dennis Nikolaev

@Bruce Lynn

@Bruce Lynn, @Scott E. Well, I spent an extraordinary amount of time with the building department making sure that the design satisfies all the requirements. Containers are welcome. The original builder was going to pull the permits. Once the builder dropped off, I didn't see the point in pursuing the permits. Parking ... the entire structure is lifted up - making most of the site to be available for parking. 
On the downside - yes it is my first foray into development. And there is like 15k that needs to be spent on engineering if I pull permits myself. How do I go about raising capital for a project like this?

A year ago I bought an awesome 3.500 s.f multifamily lot just east of downtown (east lawn).
I got a design done for it that fit 7 tiny home units (8 Shipping containers) with plenty of parking. Take a look below.
The construction was going to be roughly 600k. (6) one-bedroom tiny homes plus (1) 3 bedroom Airbnb STR projected to gross up to 10k per month. (Solar was going to be financed separately)

However, in the Summer of 2021, I count find builders to do the container building for me (I don't live in Texas, so it didn't help). So I focused on other projects. Skip 9 months forward, I realized that all of my money is tied elsewhere and the lot is simply sitting there bleeding tax money.

I need advice on how to move forward. I'd hate to give it all up and just sell the land.

Dennis

@Bryan Vukelich I may have like 500k in equity I can pull next year. Is there any way to use it to house hack? The goal is to pay less on the primary residence :) :)

Being a part of Great Resignation I am moving to Oahu. 4 kids me and my wife. I'm hoping to house hack. I hear that if you live on a property, then you may do the STR on it. I was wondering if it is real and what/who are the best resources to start with?