All Forum Posts by: Devin P.

Quote from @Wayne Marques:

Just my personal opinion... I love tiny homes, but the only thing that would make that living situation horrendous is by having such a tiny space while having other people that close to me.

 I thought about that too. I kind of agree. I get this aspect. 

Quote from @Shawn McDonnell:

Hi Devon, it sounds like you are zoned AR-1 which would not allow for three dwellings(main house and duplex) but it does allow for a garage apartment(up to 800 sq ft) with administrative approval. See code: https://ecode360.com/8883922

One way around this is to apply for a minor subdivision. If you have access to central sewer, you could do 1/2 acre lots. If you don’t have access to central sewer, then you could do 3/4 acre lots. I am going through this right now with a client. We are subdividing his 4 acre parcel into 4 separate parcels.

Awesome. Thank you so much. Yes our neighbor has done the same thing and divided two separate dwellings with a live in space above a garage renting at 2200 a month. 
We are on septic so we would need separate system and well. Our road frontage on the lot is small so we wouldn't be able to do major sub, we looked into this last year. We weren't looking to own or build up the property at that time. This house was supposed to be a flip and we opted to keep it and HELOC it after completion.

With the constant hardships of finding great deals in the area, we decide just to build a small structure on site and rent it. 

Quote from @Rachel H.:

@Devin P. Personally, I've never heard of this. Those who are in the market for tiny homes usually want the homes for themselves usually on some land, if possible. 

Not sure how this would work unless there's a market for it in your area. Best to do further research on the subject before you proceed. 

Good luck! 

Our neighbor rents a small space above a garage no more than 600 sq ft and makes a killing. She has a small tiny house next door. We are not subdividing the lot due to road frontage restrictions, we looked into that a year ago. 

We are 15 minutes away from Delaware beaches in Lewes, so long term and short term rentals do very well in the market. 

My wife and I acquired a property a little over a year ago on 3.4 acres. It’s 5 minutes from Delaware beaches and we have moved into the home as our primary after we rehabbed it. The housing market sucks where we are at (as I’m sure it does everywhere) and deals are hard to come by. We are wanting to put a Tiny home on the property and have been looking at duplex plans. Has anyone built a Tiny Home Duplex and would they share their experience with renting it out or maybe some floor plan ideas? I see a ton of cool looking Tiny homes, but lacking in the duplex section options. Thanks in advance! 

For anyone interested, the property is 7 Country Lane, Lewes DE. Any and all help on making a decision would be appreciated. I think we can fit two properties on the parcel comfortably due to the wetlands, and septic requirements, but is all subject to approval.

I have a property on 3.5 acres we acquired originally to flip. It has a pole barn, small stable with a small den above it (not liveable). The house needs a lot of work inside and out. We purchased as an estate sale for 220,000. Our original plan was to fix up existing residence with a reno budget of 150,000. We purchased the property cash and was planning on acquiring a HELOC on the property for renovation costs. A few friends have suggested tearing the existing structure down, splitting the lot and building two new construction homes after subdivision. We are looking into seeing if subdivision is even possible at this time. I am mostly looking for anyone to share their experiences, hidden costs, creative financing options that may help me decide what to do. The house next door sold for 437,000 on 1 acre. A few years old, nice, but dated finishes. The ARV on the flip we set at 490,000 to be conservative due to larger lot, pole barn and stable, and the finishes we have picked out for the reno.

To tear down and build two new homes, we definitely need financing options on the homes, septic, utility tie in, well and such. It sounds like a lot more work, but might be worth it for the ROI.

@Nate Stitchell

That’s how I got my first property. HELOCs are a tool every investor should have in their pocket

@Jimmy O'Connor

I just got an estate sale under contract! Amazing deal, can’t wait to get started next week. Congrats, that must feel good knowing you have a relationship with an investor that knows what he’s doing.

I understand the gambling aspect. I am just completely shocked that this house was mortgaged under a USDA FHA or VA style loan and they were able to obtain occupancy and a loan without having a class H inspection.

I purchased a foreclosure home to flip that was built in 2003. We are 1 month into the reno. The seller was Secretary of Agriculture so I assumed the house was foreclosed from a govt backed loan such as a FHA, VA, or USDA loan. That being said, the seller had riser caps installed on the septic and well prior to the sale of the house. I called the person who installed those risers who does class H inspections, and he stated that when he searched that property to install the risers, that there was no permit on file for the septic system. If I did an inspection and the system failed, it would not be able to be repaired due to not having an original permit. My question, which I'm awaiting to hear back from the listing agent how this person even got a loan without having a class H inspection on the septic. It just seems outrageous that I'm now quite possibly having to replace the entire septic. I have moved forward with having the soil tested in prep for replacing the entire system, but Im just wondering if anyone has any other suggestions or scenarios they could offer for my situation.